Medivation Inc (NASDAQ:MDVN) announced that new data from Company-sponsored and investigator-initiated clinical trials will be presented at the European Society for Medical Oncology (ESMO) 2016 Congress, being held October 7-11, inCopenhagen. Presentations include a pilot study of the company’s investigational PARP inhibitor talazoparib in patients with BRCA-mutated breast cancer, and analyses of enzalutamide in the advanced prostate cancer setting, representing research advances in serious diseases for which there are limited options.
“We are excited to share data highlighting the clinical impact and potency of our potential best-in-class PARP inhibitor, talazoparib,” said David Hung, M.D., founder, president and CEO of Medivation. “In addition, the breadth of enzalutamide data presentations shows our commitment to fully investigating its utility in patients with advanced prostate cancer.” (Original Source)
Shares of Medivation closed yesterday at $81.44, up $0.02 or 0.02%. MDVN has a 1-year high of $81.48 and a 1-year low of $26.41. The stock’s 50-day moving average is $76.77 and its 200-day moving average is $61.10.
On the ratings front, Medivation has been the subject of a number of recent research reports. In a report issued on August 23, Maxim Group analyst Jason Kolbert reiterated a Hold rating on MDVN, with a price target of $81.50, which represents a slight upside potential from current levels. Separately, on the same day, Brean Murray Carret’s Jonathan Aschoff downgraded the stock to Hold .
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 -15.9% and -7.6% respectively. Kolbert has a success rate of 28.5% and is ranked #4074 out of 4185 analysts, while Aschoff has a success rate of 40.5% and is ranked #4032.
The street is mostly Neutral on MDVN stock. Out of 14 analysts who cover the stock, 13 suggest a Hold rating and one recommends to Buy the stock. The 12-month average price target assigned to the stock is $77.10, which implies a downside of 5% from current levels.
Medivation, Inc. engages in the development and commercialization of novel therapies to treat serious diseases for which there are limited treatment options. The company was founded by Clarence Patrick Machado and David T.