Jefferies Predicts Stellar Outlook For Medivation Inc (MDVN) and MDV3100

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Today Jefferies analysts increased their price target on Medivation, Inc’s (NASAQ: MDVN) from $95 to $97 based on expectation that their cancer drug MDV3100 will reach $2 billion in sales by 2020.

Jefferies analysts are optimistic that drug will continue to do will in clinical trails. MDV3100 has shown positive results in a Phase III trail (AFFIRM) for post-cehmotherapy castrate-resistant prostate cancer (CRPC), and is currently in Phase III (PREVAIL).

Jefferies analysts conducted a proprietary survey involving urologists and oncologists showing strong MDV3100 pre and post-chemo uptake.

Jefferies has a BUY rating Medivation (NASDAQ: MDVN).

For an analyst ratings summary and ratings history on Medivation click here. For more ratings news on Medivation click here.

Shares of Medivation closed at $74.82 yesterday, with a 52 week range of $14.32-$80.87.

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