Market Overview

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

Share:
Related MDVN
Benzinga's M&A Chatter for Thursday April 28, 2016
Why Medivation Will Likely Reject Sanofi's $52.50/Share Buyout Offer
Strange Gilead Should Start By Buying Medivation (Seeking Alpha)

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
Apr 2016JP MorganTerminatesOverweight
Apr 2016BMO CapitalInitiates Coverage onMarket Perform
Apr 2016SunTrust Robinson HumphreyInitiates Coverage onBuy

View More Analyst Ratings for MDVN
View the Latest Analyst Ratings

Posted-In: Analyst Color News Analyst Ratings

 

Related Articles (MDVN)

View Comments and Join the Discussion!