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Canaccord Shines Light on Medivation Inc’s (MDVN) 2Q:16 Results

In a research report published Wednesday, Canaccord analyst John Newman reiterated a Buy rating on shares of Medivation Inc (NASDAQ:MDVN) with a price target of $70, after the drug maker reported mixed second quarter results and affirmed its guidance, sending shares slightly up Wednesday.

Newman noted, “On its call, Medivation announced Xtandi sales of ~$330M (missing $338M consensus slightly), but more important for the long-term growth story of the drug was the...