Medivation shares a 'buy' despite extreme volatility?

FBN's Charles Payne, Lebenthal Asset Management's James Lebenthal and Penn Financial Group founder Matt McCall on the outlook for Medivation.

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Consider Medivation for Your Portfolio

By Payne's Picks FOXBusiness

Today’s stock suggestion is biopharmaceutical company Medivation (MDVN).

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Medivation works in collaboration with drug companies to develop novel therapies for serious diseases.  They’re building their success in prostate cancer, for which they have a miracle drug. Plus they’re also doing some work on breast cancer.

Recent success has led to super-fast growth. Revenue was $148 million in the most recent quarter, up 111%.

The company’s platform, Enzalutamide, is in a clinical data program and will be used for a lot of cures and therapies in the future.

The stock has made a big move through $100, but I think it can rally another 50%. The Street has hiked its full-year earnings guidance for next year to $3.46 a share from $2.73. I like Medivation short-term, and I like it long-term. But here’s the caveat: it’s extremely volatile.

DISCLOSURES

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Medivation (MDVN)

Owns

Family Owns

Firm Owns

Investment
Banking

CHARLES N N Y N
MATT N N N N
HITHA N N N N
SCOTTIE N N N N
JAMES N N Y N
NICOLE N N N N

 

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