Medivation Inc. buy klostergang

Its blockbuster prostate cancer drug Xtandi continues to blow away analyst estimates

Medivation stock has been on a downward trend the last several months fueled by false rumors regarding the new ASCO drug scoring system and a Cowen misinformed analyst downgrade. Its blockbuster prostate cancer drug Xtandi continues to blow away analyst estimates and is currently on pace to bring in ~ $2 billion annually. Management has made significant strides in building a solid drug pipeline with 2 low-risk, best-in-class drugs Pidilizumab and Talazoparib in late stage clinical trials and the potential to expand into numerous cancer indications. Xtandi is also expanding outside of prostate cancer and will enter a Phase 3 study in TNBC. Lastly, Medivation is expected to have an undisclosed in-house developed compound enter the clinic in the near future. Following Medivation's stellar Xtandi growth, breast cancer data at ASCO and late stage pipeline, most analysts have recently slapped huge price target increases on the stock. Last week, William Blair raised their price target to $166 per share representing nearly a 100% gain from current levels. Likewise, Maxim Group and Canaccord Genuity reiterated their strong buy recommendations with price targets of $171 and $180 respectively. The overall price target from all 19 analysts following the stock is $133. Investors should rest easy as there has never been a biotech company with a drug doing over a billion dollars in sales that was not acquired or gone on to become a huge biotech behemoth. Whichever path Medivation goes down will reap huge rewards for investors.