Marcus Capital Lowers stake in Medivation Inc (MDVN)

Medivation Inc (MDVN) : Marcus Capital reduced its stake in Medivation Inc by 23.45% during the most recent quarter end. The investment management company now holds a total of 80,300 shares of Medivation Inc which is valued at $4,963,343 after selling 24,600 shares in Medivation Inc , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.Medivation Inc makes up approximately 4.98% of Marcus Capital’s portfolio.

Other Hedge Funds, Including , First Quadrant L Pca added MDVN to its portfolio by purchasing 200 company shares during the most recent quarter which is valued at $24,724.Sumitomo Life Insurance Co reduced its stake in MDVN by selling 1,060 shares or 3.4% in the most recent quarter. The Hedge Fund company now holds 30,124 shares of MDVN which is valued at $1,862,567. Medivation Inc makes up approx 0.25% of Sumitomo Life Insurance Co’s portfolio.Capstone Asset Management Co reduced its stake in MDVN by selling 270 shares or 4.57% in the most recent quarter. The Hedge Fund company now holds 5,634 shares of MDVN which is valued at $346,885. Medivation Inc makes up approx 0.01% of Capstone Asset Management Co’s portfolio.British Columbia Investment Management Corp boosted its stake in MDVN in the latest quarter, The investment management firm added 278 additional shares and now holds a total of 76,869 shares of Medivation Inc which is valued at $4,773,565. Medivation Inc makes up approx 0.04% of British Columbia Investment Management Corp’s portfolio. Mazama Capital Management Inc added MDVN to its portfolio by purchasing 5,217 company shares during the most recent quarter which is valued at $323,976. Medivation Inc makes up approx 0.06% of Mazama Capital Management Inc’s portfolio.

Medivation Inc closed down -0.06 points or -0.10% at $61.81 with 12,34,858 shares getting traded on Wednesday. Post opening the session at $62.05, the shares hit an intraday low of $61.55 and an intraday high of $62.11 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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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