Opus Point Partners Management buys $6.5 Million stake in Medivation Inc (MDVN)

Medivation Inc (MDVN) : Opus Point Partners Management scooped up 15,048 additional shares in Medivation Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 106,358 shares of Medivation Inc which is valued at $6.5 Million.Medivation Inc makes up approximately 6.18% of Opus Point Partners Management’s portfolio.

Other Hedge Funds, Including , Zurcher Kantonalbank (zurich Cantonalbank) boosted its stake in MDVN in the latest quarter, The investment management firm added 750 additional shares and now holds a total of 21,145 shares of Medivation Inc which is valued at $1.3 Million. Medivation Inc makes up approx 0.02% of Zurcher Kantonalbank (zurich Cantonalbank)’s portfolio.Blackrock Institutional Trust Company N.a. reduced its stake in MDVN by selling 133,613 shares or 3.3% in the most recent quarter. The Hedge Fund company now holds 3,911,801 shares of MDVN which is valued at $239.3 Million. Medivation Inc makes up approx 0.04% of Blackrock Institutional Trust Company N.a.’s portfolio.Cibc Asset Management Inc boosted its stake in MDVN in the latest quarter, The investment management firm added 560 additional shares and now holds a total of 7,652 shares of Medivation Inc which is valued at $468,073.Globeflex Capital L P reduced its stake in MDVN by selling 554 shares or 1.07% in the most recent quarter. The Hedge Fund company now holds 51,108 shares of MDVN which is valued at $3.1 Million. Medivation Inc makes up approx 0.84% of Globeflex Capital L P’s portfolio.

Medivation Inc closed down -0.43 points or -0.69% at $61.48 with 47,46,954 shares getting traded on Wednesday. Post opening the session at $62.35, the shares hit an intraday low of $61.09 and an intraday high of $62.39 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 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. Company shares were Reiterated by Maxim Group on May 5, 2016 to “Buy”, Firm has raised the Price Target to $ 76 from a previous price target of $47 .

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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