Insider Selling: Clarence Patrick Machado Sells 40,000 Shares of Medivation Stock (MDVN)

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Medivation (NASDAQ:MDVN) CFO Clarence Patrick Machado sold 40,000 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $80.83, for a total value of $3,233,200.00. Following the sale, the chief financial officer now directly owns 30,830 shares of the company’s stock, valued at approximately $2,491,989. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Several analysts have recently commented on the stock. Analysts at Chardan Capital reiterated a “buy” rating on shares of Medivation in a research note on Monday, February 3rd. They now have a $100.00 price target on the stock. Separately, analysts at Citigroup Inc. raised their price target on shares of Medivation to $124.00 in a research note on Monday, February 3rd. Finally, analysts at Sanford C. Bernstein downgraded shares of Medivation from an “outperform” rating to a “market perform” rating in a research note on Monday, February 3rd. They now have a $92.00 price target on the stock, up previously from $84.00. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. Medivation has a consensus rating of “Buy” and an average price target of $90.18.

Medivation (NASDAQ:MDVN) traded up 0.50% during mid-day trading on Wednesday, hitting $81.085. 123,118 shares of the company’s stock traded hands. Medivation has a 52 week low of $41.89 and a 52 week high of $87.46. The stock’s 50-day moving average is $72. and its 200-day moving average is $62.42. The company’s market cap is $6.118 billion.

Medivation (NASDAQ:MDVN) last announced its earnings results on Thursday, January 30th. The company reported ($0.43) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.14) by $0.29. On average, analysts predict that Medivation will post $-0.69 earnings per share for the current fiscal year.

Medivation, Inc is a biopharmaceutical company focused on the development and commercialization of novel therapies.

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