UBS Starts Medivation (MDVN) at Neutral

Earlier, UBS initiates coverage on Medivation (NASDAQ: MDVN) with a Neutral rating and $59 price target.

"We view Medivation as a high-quality mid-cap biotech, with lead asset Xtandi poised to become part of the standard of care in metastatic prostate cancer," the analyst comments. "We have a favorable long-term view on the Xtandi opportunity, and think it’s likely that future clinical trial data support differentiated claims vs. competing product Zytiga. However, we initiate with a Neutral rating given high expectations for peak sales ahead of key de-risking data (which implies significant downside risk, albeit less likely), and low likelihood of M&A until sales trends and key data are known."

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 $55.35 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• JPMorgan Starts Banco de Sabadell SA (SAB:SM) (BNDSF) at Underweight
• Jefferies Starts Buzzi Unicem SpA (BZU:IM) (BZZUY) at Hold
• UBS Upgrades IMCD NV (IMCD:NA) to Buy