Credit Suisse Begins Coverage on Medivation (MDVN)
Equities research analysts at Credit Suisse started coverage on shares of Medivation (NASDAQ:MDVN) in a research note issued to investors on Thursday. The firm set an “outperform” rating on the stock.
MDVN has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Medivation in a research note on Monday, August 25th. They now have a $89.00 price target on the stock. Separately, analysts at Jefferies Group reiterated a “positive” rating on shares of Medivation in a research note on Monday, August 18th. Finally, 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $96.94.
In other Medivation news, Insider Lynn Seely sold 20,000 shares of Medivation stock on the open market in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $89.42, for a total value of $1,788,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Medivation (NASDAQ:MDVN) traded up 0.57% on Thursday, hitting $92.02. The stock had a trading volume of 1,071,404 shares. Medivation has a one year low of $48.15 and a one year high of $92.63. The stock has a 50-day moving average of $80.97 and a 200-day moving average of $72.57. The company has a market cap of $7.066 billion and a price-to-earnings ratio of 294.21.
Medivation (NASDAQ:MDVN) last issued its quarterly earnings data 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. Analysts expect that Medivation will post $2.43 earnings per share for the current fiscal year.
Medivation, Inc is a biopharmaceutical company focused on the development and commercialization of novel therapies.
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