The stock in the Biotechnology industry, Medivation, Inc. (MDVN) could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on MDVN’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Medivation could be a solid choice for investors.
Current Quarter Estimates for MDVN
In the past 30 days, three estimates have gone higher for Medivation while no downward movement of estimates was observed during the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 14 cents a share 30 days ago, to the loss of 13 cents per share today, an improvement of 7.1%.
Current Year Estimates for MDVN
Meanwhile, Medivation’s current year figures are also looking quite promising, with two estimates moving higher in the past month, while none moved lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 75 cents per share 30 days ago to a loss of 74 cents per share today, an improvement of 1.3%.
The stock has also started to move higher lately, adding 25.5% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future.
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MEDIVATION INC (MDVN): Free Stock Analysis Report
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