Medivation (MDVN): Anemic Growth from Xtandi - Jefferies
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Jefferies analyst, Biren Amin, reiterated his Hold rating on shares of Medivation (NASDAQ: MDVN) after management disclosed a 3% q/q growth due to underlying demand for Xtandi. in Q2. This anemic number is concerning especially when combined with worse gtn and inventory stocking.
One positive trend that could continue is increased duration of Xtandi currently ~9 months and could increase if STRIVE/TERRAIN data are included in the label by the Oct 22 PDUFA. Therefore, the analyst felt comfortable raising his price target to $60 from $56.
Shares of Medivation closed at $63.45 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co, PDUFA
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