Quantitative Investment Management adds Medivation Inc (MDVN) to its portfolio

Medivation Inc (MDVN) : Quantitative Investment Management added new position in Medivation Inc during the most recent quarter end. The investment management firm now holds 213,500 shares of Medivation Inc which is valued at $13,681,080 , the company said in a statement filed on Aug 2, 2016 with the SEC.Medivation Inc makes up approximately 0.62% of Quantitative Investment Management’s portfolio.

Other Hedge Funds, Including , Tocqueville Asset Management reduced its stake in MDVN by selling 100 shares or 0.43% in the most recent quarter. The Hedge Fund company now holds 23,175 shares of MDVN which is valued at $1,482,968. Medivation Inc makes up approx 0.02% of Tocqueville Asset Management’s portfolio. Clarivest Asset Management added MDVN to its portfolio by purchasing 11 company shares during the most recent quarter which is valued at $704.Nordea Investment Management Ab boosted its stake in MDVN in the latest quarter, The investment management firm added 211 additional shares and now holds a total of 2,819 shares of Medivation Inc which is valued at $174,242.Bnp Paribas Arbitrage Sa boosted its stake in MDVN in the latest quarter, The investment management firm added 1,154 additional shares and now holds a total of 21,719 shares of Medivation Inc which is valued at $1,348,750. Medivation Inc makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio.

Medivation Inc closed down -0.07 points or -0.11% at $63.18 with 10,67,796 shares getting traded on Monday. Post opening the session at $63.36, the shares hit an intraday low of $62.99 and an intraday high of $63.47 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 $0.11 EPS for the quarter, missing the analyst consensus estimate by $ -0.12 based on the information available during the earnings call on May 5, 2016. Analyst had a consensus of $0.23. The company had revenue of $182.50 million for the quarter, compared to analysts expectations of $197.72 million. The company’s revenue was up 41.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS.

Many Wall Street Analysts have commented on Medivation Inc. Company shares were Reiterated by Wedbush on Jul 12, 2016 to “Outperform”, Firm has raised the Price Target to $ 66 from a previous price target of $63 .Company shares were Reiterated by Barclays on May 6, 2016 to “Overweight”, Firm has raised the Price Target to $ 70 from a previous price target of $48 .Medivation Inc was Upgraded by Citigroup to ” Buy” on May 6, 2016.

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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