Insider Selling: Medivation Insider Sells 20,000 Shares of Stock (MDVN)
Medivation (NASDAQ:MDVN) Insider Lynn Seely unloaded 20,000 shares of Medivation stock on the open market in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $83.62, for a total value of $1,672,400.00. Following the transaction, the insider now directly owns 59,022 shares in the company, valued at approximately $4,935,420. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Medivation (NASDAQ:MDVN) opened at 84.85 on Monday. Medivation has a 1-year low of $48.15 and a 1-year high of $88.20. The stock has a 50-day moving average of $76.87 and a 200-day moving average of $71.83. The company has a market cap of $6.515 billion and a P/E ratio of 272.83.
Medivation (NASDAQ:MDVN) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.60 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted ($0.07) earnings per share. Medivation’s revenue was up 111.1% compared to the same quarter last year. On average, analysts predict that Medivation will post $2.38 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on MDVN shares. Analysts at Jefferies Group reiterated a “positive” rating on shares of Medivation in a research note on Monday. Separately, analysts at Aegis raised their price target on shares of Medivation from $125.00 to $130.00 in a research note on Friday, August 8th. Finally, analysts at Leerink Swann raised their price target on shares of Medivation from $104.00 to $107.00 in a research note on Friday, August 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. Medivation presently has an average rating of “Buy” and a consensus price target of $97.50.
Medivation, Inc is a biopharmaceutical company focused on the development and commercialization of novel therapies.
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