Medivation (MDVN) : Analyst Rating Update

Medivation (MDVN) : 13 analysts are covering Medivation (MDVN) and their average rating on the stock is 1.62, which is read as a Buy. 9 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 5, which recommends a Strong Sell affirms that they expect a large upside in the stock from the current levels. A total of 4 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Medivation (MDVN) : 15 Wall Street analysts covering Medivation (MDVN) believe that the average level the stock could reach for the short term is $61. The maximum price target given is $76 and the minimum target for short term is around $40, hence the standard deviation is calculated at $11.05.

Medivation (NASDAQ:MDVN): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $62.53 and $61.60 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $62.75. The buying momentum continued till the end and the stock did not give up its gains. It closed at $62.33, notching a gain of 0.92% for the day. The total traded volume was 4,563,340 . The stock had closed at $61.76 on the previous day.

Also, In a research note released to the investors, Citigroup upgrades its rating on Medivation (NASDAQ:MDVN).The analysts at the brokerage house have a current rating of Buy on the shares. Earlier, the shares were rated a Neutral by the brokerage firm. In a recent information released to the investors, Citigroup raises the new price target from $37 per share to $73 per share. The rating by the firm was issued on May 6, 2016. The company shares have rallied 13.82% from its 1 Year high price. On May 10, 2016, the shares registered one year high at $62.94 and the one year low was seen on Feb 9, 2016. The 50-Day Moving Average price is $60.01 and the 200 Day Moving Average price is recorded at $46.99.

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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