Medivation Shares Higher as Jefferies Gets More Aggressive on Q4 Timeline for PREVAIL, Reiterates Buy

Medivation

shares are up more than 5 percent Thursday following some bullish comments from Jefferies' Biren Amin. The comments follow recent investor meetings with Medivation management which left Amin feeling like "the state of the Xtandi franchise and the company's outlook has never appeared brighter." The analyst now believes his "previous Q4 '13 PREVAIL interim timeline estimates may have been conservative, and our new calculation suggests data could arrive as soon as July '13." Amin is expecting favorable PREVAIL interim data. Jefferies reiterated a Buy rating and $64 price target on shares of Medivation.