Medivation (MDVN) Shares Mark 16-Year High; Analyst Ups Target to $106

Shares of Medivation (NASDAQ: MDVN) are catching a bid Tuesday as traders may be responding to an earlier research note from Bernstein's Geoffrey Porges. The stock last traded at $79.04, up more than 4 percent from Monday's close.

Porges boosted his price target on Medivation shares by nearly 30 percent from $82 previously to $106. The analyst maintains an Outperform rating on Medivation.

Porges' new price target represents further upside of about 34 percent from where the stock is currently trading.

Shares of Medivation, notably, have hit a 16-year high Tuesday.

For an analyst ratings summary and ratings history on Medivation click here. For more ratings news on Medivation click here.

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