Medivation (MDVN) Target Lifted at Maxim Group

Maxim Group analyst Jason Kolbert reiterated a Buy rating on Medivation (NASDAQ: MDVN) and raised his price target from $92 to $112 as he extends his model to 2020.

Kolbert comments, " Last week, we reviewed our model and spent some time discussing Medivation’s recent guidance with management. As a result, we are extending our model out to 2020. We include a stream of milestone payments and adjust our R&D and G&A (higher). We conclude that 2014 is an “investment year,” during which the company will be building its infrastructure. This translates into a bolus sales force expansion and higher head counts, which impact both R&D and G&A. "

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 $67.76 yesterday.

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