Global Hunter Securities Reiterates a 'Buy' on Medivation (MDVN); Stock Significantly Undervalued
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Price: $81.44 --0%
Rating Summary:
12 Buy, 17 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
12 Buy, 17 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Global Hunter Securities reiterates a 'Buy' on Medivation (NASDAQ: MDVN), PT increased from $24 to $30.
Global analyst says, "Our revised fair value estimate of $30 is based on a discounted cash flow (DCF) analysis and a sum-of-the-parts analysis. In our view, base case valuation for Medivation is based on the MDV3100 program and we view a potentially positive interim analysis from the AFFIRM study, likely in Q3, as an inflection point for the stock. We see the Alzheimer’s program as a call option. Our Buy rating is based on this program, strong global collaborations and compelling valuation. Upside could occur with positive dimebon data in Alzheimer’s disease. Downside could occur should there be negative prostate cancer data and should Pfizer (NYSE: PFE) end the dimebon collaboration."
For more ratings news on Medivation click here and for the rating history of Medivation click here.
Shares of Medivation closed at $22.86 yesterday.
Global analyst says, "Our revised fair value estimate of $30 is based on a discounted cash flow (DCF) analysis and a sum-of-the-parts analysis. In our view, base case valuation for Medivation is based on the MDV3100 program and we view a potentially positive interim analysis from the AFFIRM study, likely in Q3, as an inflection point for the stock. We see the Alzheimer’s program as a call option. Our Buy rating is based on this program, strong global collaborations and compelling valuation. Upside could occur with positive dimebon data in Alzheimer’s disease. Downside could occur should there be negative prostate cancer data and should Pfizer (NYSE: PFE) end the dimebon collaboration."
For more ratings news on Medivation click here and for the rating history of Medivation click here.
Shares of Medivation closed at $22.86 yesterday.
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