Medivation lowered expectations skews risk/reward to upside, says UBS UBS noted Medivation shares have been weak since ASCO but believes the risk reward has been skewed to the upside. The firm said its thesis is different from consensus as they believe the company's pipeline advancement this year could drive multiple expansion if Xtandi sales can at least remain flat. UBS reiterated its Buy rating and $142 price target on Medivation shares.
Medivation and Astellas Pharma enroll first patients in prostate cancer registry Astellas (ALPMY) and Medivation (MDVN) have enrolled the first patients in TRUMPET - Treatment Registry for Outcomes in CRPC Patients -, a prospective observational patient registry designed to better understand the unique needs and treatment patterns for patients with castration-resistant prostate cancer. The registry will enroll and evaluate 2,000 patients diagnosed with CRPC from urology and oncology sites across the U.S. TRUMPET is currently enrolling eligible patients and their caregivers; the study will be completed in 2020.