Insider Selling: Medivation Insider Sells 25,500 Shares of Stock (MDVN)
Medivation (NASDAQ:MDVN) Insider Lynn Seely unloaded 25,500 shares of Medivation stock on the open market in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $83.02, for a total value of $2,117,010.00. Following the completion of the sale, the insider now directly owns 59,022 shares of the company’s stock, valued at approximately $4,900,006. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Medivation (NASDAQ:MDVN) traded down 0.01% during mid-day trading on Tuesday, hitting $83.24. 926,182 shares of the company’s stock traded hands. Medivation has a 52-week low of $48.15 and a 52-week high of $88.20. The stock’s 50-day moving average is $76.25 and its 200-day moving average is $71.58. The company has a market cap of $6.392 billion and a P/E ratio of 267.68.
Medivation (NASDAQ:MDVN) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.60 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.24 by $0.36. The company had revenue of $148.09 million for the quarter, compared to the consensus estimate of $126.46 million. During the same quarter in the prior year, the company posted ($0.07) earnings per share. The company’s quarterly revenue was up 111.1% on a year-over-year basis. On average, analysts predict that Medivation will post $2.35 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Aegis raised their price target on shares of Medivation from $125.00 to $130.00 in a research note on Friday. Separately, analysts at Leerink Swann raised their price target on shares of Medivation from $104.00 to $107.00 in a research note on Friday. Finally, analysts at Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Medivation in a research note on Friday. They now have a $107.00 price target on the stock, up previously from $104.00. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $96.47.
Medivation, Inc is a biopharmaceutical company focused on the development and commercialization of novel therapies.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.