Medivation Receives Jefferies Downgrade, Shares Up Slightly

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Biotechnology, Healthcare, MDVN
Biotechnology, Healthcare, MDVN

Medivation (MDVN) stock was downgraded by Jefferies, to Hold from Buy, and shares made slight gains.

Jefferies lowered its price target on the biopharmaceutical firm’s shares to $80 from $89.

In afternoon trade, MDVN was up 0.74% to $76.30.

Medivation, Inc., a biopharmaceutical company, focuses on the development and commercialization of novel therapies to treat serious diseases in the United States. It offers XTANDI for the treatment of post-chemotherapy metastatic castration-resistant prostate cancer (mCRPC) patients. The company also conducts various trials of enzalutamide in earlier prostate cancer disease states, including the Phase III PREVAIL trial in patients with mCRPC who have not received chemotherapy; and in patients with breast cancer.

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