Medivation Inc (NASDAQ:MDVN) and Astellas announced that the first patients have been enrolled in TRUMPET (Treatment Registry for Outcomes in CRPC Patie nts), a prospective observational patient registry designed to better understand the unique needs and treatment patterns for patients with castration-resistant prostate cancer (CRPC). The registry will enroll and evaluate 2,000 patients diagnosed with CRPC from urology and oncology sites across the United States. The study will also collect data from the primary caregivers of patients, including spouses, family members and/or friends.
“While there have been many treatment advances in prostate cancer over the past few years, there is still a great deal for us to learn. The insights from TRUMPET can directly impact our research and increase our understanding of important treatment considerations,” said Jeffrey Bloss, M.D., senior vice president, Astellas Pharma Global Development, Inc. “This registry provides an important building block to support our commitment to providing effective, evidence-based cancer care for patients and their caregivers.”
TRUMPET will follow patients with CRPC and participating caregivers for up to six years to gather information about the management of the disease, including patterns of care, treatment decisions and settings, and physician referral patterns. The registry will also track information about patient health-related quality of life outcomes, work productivity and treatment satisfaction, as well as caregiver health-related quality of life outcomes associated with managing a patient with CRPC.
“As a direct result of advances in therapies available to treat patients with CRPC, treatment decisions have become more complex than ever,” saidDavid F. Penson, M.D., M.P.H., chair, department of urologic surgery, Vanderbilt University Medical Center. “TRUMPET will expand our scientific understanding of CRPC to help healthcare professionals, patients and their loved ones make more informed decisions about their care.”
TRUMPET is currently enrolling eligible patients and their caregivers; the study will be completed in 2020. (Original Source)
Shares of Medivation closed yesterday at $110.9 . MDVN has a 1-year high of $141.58 and a 1-year low of $69.11. The stock’s 50-day moving average is $122.54 and its 200-day moving average is $117.35.
On the ratings front, Medivation has been the subject of a number of recent research reports. In a report issued on June 4, Maxim Group analyst Jason Kolbert reiterated a Buy rating on MDVN, with a price target of $168, which implies an upside of 51.5% from current levels. Separately, on June 2, Brean Murray Carret’s Jonathan Aschoff maintained a Buy rating on the stock and has a price target of $142.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jason Kolbert and Jonathan Aschoff have a total average return of 2.8% and 9.9% respectively. Kolbert has a success rate of 42.0% and is ranked #1199 out of 3629 analysts, while Aschoff has a success rate of 53.2% and is ranked #305.
The street is mostly Bullish on MDVN stock. Out of 9 analysts who cover the stock, 6 suggest a Buy rating and 3 recommend to Hold the stock. The 12-month average price target assigned to the stock is $144.63, which represents a potential upside of 30.4% from where the stock is currently trading.
Medivation Inc is a biopharmaceutical company engaged in the development of novel small molecule drugs to treat diseases like Alzheimer’s disease and Huntington disease.