Jefferies Maintains a 'Buy' on Medivation (MDVN)); PREVAIL Trial Design Increases Odds of Success

Jefferies maintains a 'Buy' on Medivation (NASDAQ: MDVN) price target of $95.00.

Analyst, Biren Amin, said, "Interest has increased in MDVN's PREVAIL study in 1,680 chemo-naive CRPC patients after Johnson & Johnson (NYSE: JNJ) release of the '302 data in a similar setting. After JEF-hosted investor meetings w/ mgmt, we learned a critical difference in the design of the PREVAIL Phase III trial which increases its odds of success/minimizes risk of postprogression contamination. MDVN shares may appreciate after JNJ '302 data at ASCO and into PREVAIL interim data in Q2 '13."

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 $73.56 yesterday.

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