Consider Medivation for Your Portfolio
FBN’s Charles Payne, Lebenthal Asset Management’s James Lebenthal and Penn Financial Group founder Matt McCall on the outlook for Medivation.
Today’s stock suggestion is biopharmaceutical company Medivation (NASDAQ:MDVN).
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.
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