Leerink Swann Upgrades Medivation (MDVN) to Outperform; Positive Outlook for AFFIRM
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Price: $81.44 --0%
Rating Summary:
12 Buy, 17 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
12 Buy, 17 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Leerink Swann upgraded Medivation (NASDAQ: MDVN) from Market Perform to Outperform with a price target of $24.00.
Leerink analyst says, "Bottom Line: we are upgrading our rating of MDVN based on our belief that the upcoming interim analysis for MDV3100's Phase III trial in post-chemotherapy prostate cancer patients (known as AFFIRM) is more likely than not to yield positive data. Our analyses include a detailed examination of available data on MDV3100 and Zytiga and statistical work done with a MEDACorp biostatistician on probability of success. While we caution that the AFFIRM interim analysis will likely be a highly binary event for the stock, we believe that at the current valuation there is more upside on a positive outcome for AFFIRM than there is downside should AFFIRM continue to full analysis."
For more ratings news on Medivation click here and for the rating history of Medivation click here.
Shares of Medivation closed at $16.18 yesterday.
Leerink analyst says, "Bottom Line: we are upgrading our rating of MDVN based on our belief that the upcoming interim analysis for MDV3100's Phase III trial in post-chemotherapy prostate cancer patients (known as AFFIRM) is more likely than not to yield positive data. Our analyses include a detailed examination of available data on MDV3100 and Zytiga and statistical work done with a MEDACorp biostatistician on probability of success. While we caution that the AFFIRM interim analysis will likely be a highly binary event for the stock, we believe that at the current valuation there is more upside on a positive outcome for AFFIRM than there is downside should AFFIRM continue to full analysis."
For more ratings news on Medivation click here and for the rating history of Medivation click here.
Shares of Medivation closed at $16.18 yesterday.
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