Needham & Company Starts Medivation (MDVN) at Buy
Tweet
Share
E-mailGet Alerts MDVN Hot Sheet
Price: $81.44 --0%
Rating Summary:
12 Buy, 17 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
12 Buy, 17 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Join SI Premium – FREE
Needham & Company initiates coverage on Medivation (NASDAQ: MDVN) with a Buy. PT $65.00.
The firm comments, "Xtandi was approved in August 2012 for use in prostate cancer patients failing chemo and is rapidly gaining share from competitor Zytiga. We estimate U.S. Xtandi sales in this post-chemotherapy setting could exceed $300MM annually by 2014. We believe the real opportunity for Xtandi, however, is in treating earlier stage prostate cancer. We look for pivotal PREVAIL data in pre-chemotherapy mCRPC in late '13/early '14. The pivotal TERRAIN and STRIVE trials as well as other ongoing Phase II studies could bring about even earlier and longer Xtandi use. Despite strong performance of MDVN shares into the Xtandi launch, we do not believe current prices reflect the full value of Xtandi’s market opportunity."
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 $46.08 yesterday.
The firm comments, "Xtandi was approved in August 2012 for use in prostate cancer patients failing chemo and is rapidly gaining share from competitor Zytiga. We estimate U.S. Xtandi sales in this post-chemotherapy setting could exceed $300MM annually by 2014. We believe the real opportunity for Xtandi, however, is in treating earlier stage prostate cancer. We look for pivotal PREVAIL data in pre-chemotherapy mCRPC in late '13/early '14. The pivotal TERRAIN and STRIVE trials as well as other ongoing Phase II studies could bring about even earlier and longer Xtandi use. Despite strong performance of MDVN shares into the Xtandi launch, we do not believe current prices reflect the full value of Xtandi’s market opportunity."
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 $46.08 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Needham Starts Pulse Biosciences (PLSE) at Buy
- Gemini Space Station (GEMI) PT Lowered to $6 at Needham
- Cellebrite (CLBT) PT Lowered to $12.50 at Needham
Create E-mail Alert Related Categories
Hot New Coverage, New CoverageRelated Entities
Needham & CompanySign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
