Analyst Rating Update on Medivation (MDVN)

Medivation (NASDAQ:MDVN) : The consensus on Medivation (NASDAQ:MDVN) based on 13 analyst recommendation on the company stock is 1.62, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 9 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 4 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

Medivation (NASDAQ:MDVN) stock is expected to deviate a maximum of $11.05 from the average target price of $61 for the short term period. 15 Street Experts have initiated coverage on the stock with the most promising target being $76 and the most muted being $40.

For the current week, the company shares have a recommendation consensus of Buy. Also, Equity Analysts at the Citigroup upgrades the rating on Medivation (NASDAQ:MDVN). The brokerage firm has issued a Buy rating on the shares. The shares were previously rated Neutral. The Analysts at the ratings agency raises the price target from $37 per share to $73 per share. The rating by the firm was issued on May 6, 2016.

Medivation (NASDAQ:MDVN): stock turned positive on Tuesday. Though the stock opened at $56.94, the bulls momentum made the stock top out at $58.07 level for the day. The stock recorded a low of $56.801 and closed the trading day at $57.79, in the green by 2.08%. The total traded volume for the day was 2,404,629. The stock had closed at $56.61 in the previous days trading.

In an insider trading activity, Powell Andrew Kenneth William, officer (SVP, General Counsel & Crp Sec) of Medivation, Inc., unloaded 2,578 shares at an average price of $60.42 on June 6, 2016. The total amount of the transaction was worth $155,763, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

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.

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