The Medivation Inc. (MDVN) Rating Reiterated by BMO Capital Markets

The Medivation Inc. (MDVN) Rating Reiterated by BMO Capital Markets

Medivation Inc. (NASDAQ:MDVN)‘s stock had its “hold” rating reissued by equities researchers at BMO Capital Markets in a research report issued to clients and investors on Sunday.

Other equities analysts also recently issued reports about the stock. Canaccord Genuity reiterated a “buy” rating on shares of Medivation in a research note on Sunday, July 17th. Credit Suisse Group AG restated a “buy” rating and issued a $63.00 target price on shares of Medivation in a research note on Tuesday, July 12th. Citigroup Inc. restated a “buy” rating on shares of Medivation in a research note on Sunday, June 26th. Maxim Group set a $76.00 target price on shares of Medivation and gave the company a “buy” rating in a research note on Thursday, August 11th. Finally, Barclays PLC downgraded shares of Medivation from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $70.00 to $81.00 in a research note on Monday, August 22nd. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $73.80.

Shares of Medivation (NASDAQ:MDVN) remained flat at $81.44 during midday trading on Friday. Medivation has a 12 month low of $26.41 and a 12 month high of $81.48. The firm has a 50-day moving average of $77.41 and a 200 day moving average of $61.39.

Medivation (NASDAQ:MDVN) last released its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. Medivation had a negative net margin of 17.24% and a positive return on equity of 17.57%. The firm had revenue of $206 million for the quarter, compared to the consensus estimate of $214.52 million. During the same period last year, the firm earned $0.58 earnings per share. The company’s quarterly revenue was up 17.4% on a year-over-year basis. On average, analysts forecast that Medivation will post $1.27 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the company. Scopia Capital Management LP acquired a new position in Medivation during the first quarter worth $128,970,000. Legal & General Group Plc raised its position in Medivation by 1.5% in the first quarter. Legal & General Group Plc now owns 603,075 shares of the biopharmaceutical company’s stock worth $27,730,000 after buying an additional 8,834 shares during the last quarter. State Street Corp raised its position in Medivation by 7.5% in the first quarter. State Street Corp now owns 3,680,057 shares of the biopharmaceutical company’s stock worth $169,211,000 after buying an additional 258,206 shares during the last quarter. Brookside Capital Management LLC raised its position in Medivation by 36.8% in the first quarter. Brookside Capital Management LLC now owns 1,518,063 shares of the biopharmaceutical company’s stock worth $69,801,000 after buying an additional 408,371 shares during the last quarter. Finally, Hartford Investment Management Co. acquired a new position in Medivation during the second quarter worth $219,000. Hedge funds and other institutional investors own 87.55% of the company’s stock.

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