Ft Options buys $7,865,293 stake in Medivation Inc (MDVN)

Medivation Inc (MDVN) : Ft Options scooped up 80,980 additional shares in Medivation Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 119,135 shares of Medivation Inc which is valued at $7,865,293.Medivation Inc makes up approximately 9.53% of Ft Options’s portfolio.

Other Hedge Funds, Including , Columbia Wanger Asset Management reduced its stake in MDVN by selling 1,353,332 shares or 76.03% in the most recent quarter. The Hedge Fund company now holds 426,668 shares of MDVN which is valued at $28,168,621. Medivation Inc makes up approx 0.31% of Columbia Wanger Asset Management’s portfolio.Raymond James Associates boosted its stake in MDVN in the latest quarter, The investment management firm added 9,587 additional shares and now holds a total of 15,599 shares of Medivation Inc which is valued at $1,029,846.Brown Advisory Inc boosted its stake in MDVN in the latest quarter, The investment management firm added 136 additional shares and now holds a total of 8,542 shares of Medivation Inc which is valued at $539,684. Mu Investments Ltd. sold out all of its stake in MDVN during the most recent quarter. The investment firm sold 2,700 shares of MDVN which is valued $168,885. Joel Isaacson sold out all of its stake in MDVN during the most recent quarter. The investment firm sold 100 shares of MDVN which is valued $6,263.

Medivation Inc closed down -0.07 points or -0.09% at $80.28 with 58,01,882 shares getting traded on Monday. Post opening the session at $80.3, the shares hit an intraday low of $80.26 and an intraday high of $80.34 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Medivation Inc reported $0.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $0.26. The company had revenue of $206.20 million for the quarter, compared to analysts expectations of $209.92 million. The company’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.58 EPS.

Many Wall Street Analysts have commented on Medivation Inc. Medivation Inc was Downgraded by Stifel to ” Hold” on Aug 23, 2016. Medivation Inc was Downgraded by Credit Suisse to ” Neutral” on Aug 23, 2016. Company shares were Downgraded by Maxim Group on Aug 23, 2016 to ” Hold”, Firm has raised the Price Target to $ 81.50 from a previous price target of $76 .

Medivation Inc. is a biopharmaceutical company. The Company is focused on the development and commercialization of therapies to treat serious diseases for which there are limited treatment options. The Company in collaboration with Astellas Pharma Inc. has one commercial product XTANDI (enzalutamide) capsules (XTANDI). XTANDI has received marketing approval in the United States Europe and other countries worldwide for the treatment of patients with metastatic castration-resistant prostate cancer (mCRPC) and in Japan for the treatment of patients with castration-resistant prostate cancer (CRPC). The Company in collaboration with Astellas is also conducting investigational studies of enzalutamide in prostate cancer and in advanced breast cancer. The Company has licensed exclusive worldwide rights to pidilizumab an immune modulatory anti-Programmed Death-1 (PD-1) monoclonal antibody for all potential indications from CureTech Ltd.

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