Medivation (MDVN) : Traders are bullish on Medivation (MDVN) as it has outperformed the S&P 500 by a wide margin of 2.98% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.24%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.17% in the last 1 week, and is up 6.44% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 3.18% and the 50-Day Moving Average is 5.32%. Medivation, Inc. is up 10.71% in the last 3-month period. Year-to-Date the stock performance stands at 32.37%.
Medivation (NASDAQ:MDVN): stock turned positive on Friday. Though the stock opened at $62.19, the bulls momentum made the stock top out at $64.162 level for the day. The stock recorded a low of $62.1 and closed the trading day at $63.99, in the green by 2.40%. The total traded volume for the day was 2,861,829. The stock had closed at $62.49 in the previous days trading.
Also, Citigroup upgrades its view on Medivation (NASDAQ:MDVN) according to the research report released by the firm to its investors. The shares have now been rated Buy by the stock experts at the ratings house. Earlier, the shares had a rating of Neutral. Citigroup raises the price target from $37 per share to $73 per share on Medivation . The rating by the firm was issued on May 6, 2016.
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. has one commercial product, XTANDI (enzalutamide) capsules (XTANDI). XTANDI has received marketing approval in the United States, Europe, and other countries worldwide for the treatment of patients with metastatic castration-resistant prostate cancer (mCRPC) and in Japan for the treatment of patients with castration-resistant prostate cancer (CRPC). The Company in collaboration with Astellas is also conducting investigational studies of enzalutamide in prostate cancer and in advanced breast cancer. The Company has licensed exclusive worldwide rights to pidilizumab, an immune modulatory, anti-Programmed Death-1 (PD-1) monoclonal antibody for all potential indications from CureTech, Ltd.