Jefferies analyst Biren Amin raised his price target on Medivation (NASDAQ: MDVN) to $52.00 (from $39.00) following a Xtandi survey but maintained a Hold rating.

Amin commented, "We surveyed 50 physicians on current/projected Xtandi use and the trend appears to show increasing usage in most mCRPC populations especially after noting the STRIVE/TERRAIN data. Another key observation is duration of therapy for Xtandi extends meaningfully,further reversing a shortening duration seen in previous surveys. These conclusions drive our raising of expectations for Xtandi."

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Shares of Medivation closed at $57.80 yesterday.