Wedbush Reiterates an 'Outperform' on Medivation (MDVN); Raising PT and 2013 Estimates
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Price: $48.54 --0%
Rating Summary:
18 Buy, 3 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 14 | Down: 14 | New: 26
Rating Summary:
18 Buy, 3 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 14 | Down: 14 | New: 26
Trade MDVN Now!
Wedbush reiterates an 'Outperform' on Medivation (NASDAQ: MDVN) price target of $100.00 (from $86.00).
Analyst, David M. Nierengarten, said, "J&J (NYSE: JNJ) reported the full results of the ‘302 Phase III trial of Zytiga in prechemotherapy prostate cancer patients, showing a statistically significant increase in progression-free survival (PFS) and a nearly-significant trend to overall survival benefit...We view these results as a positive for MDVN’s enzalutamide (MDV3100), as enzalutamide showed better results in Phase II compared to Zytiga’s Phase II in pre-chemotherapy patients, and of course appeared to provide a greater benefit in Phase III post-chemotherapy patients."
However, Wedbush lowers FY12 EPS loss from (1.77) to (1.81) and raises FY13 from (1.79) to (1.01).
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 $82.68 yesterday, with a 52 week range of $14.32-$89.46.
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Analyst, David M. Nierengarten, said, "J&J (NYSE: JNJ) reported the full results of the ‘302 Phase III trial of Zytiga in prechemotherapy prostate cancer patients, showing a statistically significant increase in progression-free survival (PFS) and a nearly-significant trend to overall survival benefit...We view these results as a positive for MDVN’s enzalutamide (MDV3100), as enzalutamide showed better results in Phase II compared to Zytiga’s Phase II in pre-chemotherapy patients, and of course appeared to provide a greater benefit in Phase III post-chemotherapy patients."
However, Wedbush lowers FY12 EPS loss from (1.77) to (1.81) and raises FY13 from (1.79) to (1.01).
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 $82.68 yesterday, with a 52 week range of $14.32-$89.46.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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