NEW YORK (TheStreet) -- Medivation (MDVN) shares are up 9.3% to $82.27 on Friday after having its price target raised by analysts at Brean Capital and Stifel (SF), who both reiterated their "buy" rating on the stock.
Brean Capital analysts raised its price target to $105 from $100, while analysts at Stifel raised theirs to $89 from $83.
The improved outlook follows the biopharmaceutical company's second quarter earnings beat, which saw the company post earnings of 60 cents per diluted share, more than double analysts expectations of 24 cents per diluted shares.
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TheStreet Ratings team rates MEDIVATION INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate MEDIVATION INC (MDVN) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and good cash flow from operations. However, as a counter to these strengths, we find that the company has favored debt over equity in the management of its balance sheet."
Highlights from the analysis by TheStreet Ratings Team goes as follows: