Close

Jefferies Reiterates a 'Buy' on Medivation (MDVN); Xtandi Approved Early

September 4, 2012 7:17 AM EDT
Get Alerts MDVN Hot Sheet
Price: $81.44 --0%

Rating Summary:
    12 Buy, 17 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 20 | Down: 14 | New: 22
Join SI Premium – FREE
Jefferies reiterates a 'Buy' on Medivation (NASDAQ: MDVN) price target of $122.00 (from $113.00).

Analyst, Biren Amin, said, "Xtandi (enzalutamide) approval came ~3 months ahead of its November PDUFA date, and a slight positive on ~1 add’l qtr of sales. The label was generally in-line with launch price at a 28% premium over Zytiga. We continue to believe in strong Xtandi adoption as a potentially better AR inhibitor over Zytiga."

FY12 EPS estimate lowered from (1.22) to (1.45), but FY13 raised from (2.70) to (2.60)

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 $104.86 yesterday.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments, Analyst EPS Change, Analyst PT Change, FDA

Related Entities

Jefferies & Co