Brean Murray Sees Medivation (MDVN) As a Takeout Target After Strong Data, Sees "Beginning of the End" for Dendreon's (DNDN) Provenge

Brean Murray Carret & Co. made positive comments on Buy-rated Medivation (NASDAQ: MDVN) following additional compelling Phase 3 AFFIRM trial data.

The firm notes the AFFIRM trial met both the primary and all secondary endpoints with high statistical significance.

"Medivation is a lean enough company to be easily take out most likely, in our view, by partner Astellas," the firm comments.

The firm said the success of oral drugs like these, mark the "beginning of the end" of Dendreon's (Nasdaq: DNDN) Provenge.

The firm maintained their Buy and $77 target on MDVN.

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 $55.41 yesterday.

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