Market Overview

Worse-Than-Expected Xtandi Sales Hitting Shares of Medivation; William Blair Comments on Miss

Related MDVN
Major Upgrades And Downgrades In Friday's Market Action
Benzinga's Top Downgrades
Consider Medivation for Your Portfolio (Fox Business)

Sales of Astellas prostate cancer drug Xtandi were reported at $82 million within the US earlier, bringing down shares of Medivation (NASDAQ: MDVN) Thursday morning.

An analyst at William Blair issued a note this morning highlighting the result for Xtandi as lower than the firm's estimates for both the United States and E.U. region. The William Blair analyst was looking for $85.2 million in Xtandi sales for the quarter.

Xtandi's sales in Europe were approximately $2.6 million for 2Q, nearly half of William Blair's $4.8 estimate.

Astellas guided sales of Xtandi for FY2013 for approximately $400 million versus the $459 million William Blair estimate.

Shares of Medivation dropped over 4 percent at the open, but have regained ground and are trading down about 1 percent at last check.

Latest Ratings for MDVN

DateFirmActionFromTo
Nov 2014Brean CapitalMaintainsBuy
Nov 2014CitigroupMaintainsBuy
Sep 2014Goldman SachsDowngradesBuyNeutral

View More Analyst Ratings for MDVN
View the Latest Analyst Ratings

Posted-In: Analyst Color News Analyst Ratings

 

Related Articles (MDVN)

Around the Web, We're Loving...

Get Benzinga's Newsletters