Medivation Inc. (MDVN) Given “Hold” Rating at BMO Capital Markets
Medivation Inc. (NASDAQ:MDVN)‘s stock had its “hold” rating reiterated by equities research analysts at BMO Capital Markets in a research note issued on Sunday.
A number of other analysts also recently issued reports on the stock. Canaccord Genuity reiterated a “buy” rating and issued a $70.00 price target on shares of Medivation in a report on Saturday, August 13th. Wedbush reiterated an “outperform” rating and issued a $66.00 price target on shares of Medivation in a report on Friday, July 29th. Vetr upgraded shares of Medivation from a “sell” rating to a “hold” rating and set a $79.09 price target on the stock in a report on Tuesday, August 23rd. Credit Suisse Group AG reiterated an “outperform” rating and issued a $63.00 price target on shares of Medivation in a report on Wednesday, July 6th. Finally, JMP Securities downgraded shares of Medivation from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 10th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and four have issued a buy rating to the stock. Medivation presently has a consensus rating of “Hold” and a consensus price target of $73.80.
Medivation (NASDAQ:MDVN) remained flat at $81.44 during mid-day trading on Friday. Medivation has a one year low of $26.41 and a one year high of $81.48. The stock has a 50-day moving average of $77.41 and a 200-day moving average of $61.39.
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Medivation (NASDAQ:MDVN) last announced its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The firm had revenue of $206 million for the quarter, compared to the consensus estimate of $214.52 million. Medivation had a negative net margin of 17.24% and a positive return on equity of 17.57%. The company’s revenue was up 17.4% on a year-over-year basis. During the same period last year, the firm earned $0.58 EPS. Equities research analysts predict that Medivation will post $1.27 EPS for the current year.
Several large investors have recently bought and sold shares of the stock. Aperio Group LLC raised its stake in Medivation by 60.4% in the first quarter. Aperio Group LLC now owns 39,435 shares of the biopharmaceutical company’s stock valued at $1,813,000 after buying an additional 14,855 shares in the last quarter. Virginia Retirement System acquired a new stake in Medivation during the first quarter valued at approximately $1,032,000. Teachers Advisors Inc. raised its stake in Medivation by 22.9% in the first quarter. Teachers Advisors Inc. now owns 163,297 shares of the biopharmaceutical company’s stock valued at $7,508,000 after buying an additional 30,481 shares in the last quarter. Franklin Resources Inc. raised its stake in Medivation by 1.3% in the first quarter. Franklin Resources Inc. now owns 1,952,808 shares of the biopharmaceutical company’s stock valued at $89,790,000 after buying an additional 24,200 shares in the last quarter. Finally, BlackRock Group LTD raised its stake in Medivation by 0.6% in the first quarter. BlackRock Group LTD now owns 1,286,697 shares of the biopharmaceutical company’s stock valued at $59,164,000 after buying an additional 8,138 shares in the last quarter. Institutional investors and hedge funds own 87.55% of the company’s stock.
Medivation, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapies to treat serious diseases for which there are limited treatment options. The Company, in collaboration with Astellas Pharma, Inc (Astellas), has one commercial product, XTANDI (enzalutamide) capsules (XTANDI).
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