Torray buys $60,346,200 stake in Medivation Inc (MDVN)

Medivation Inc (MDVN) : Torray scooped up 212,770 additional shares in Medivation Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 3, 2016. The investment management firm now holds a total of 1,005,770 shares of Medivation Inc which is valued at $60,346,200.Medivation Inc makes up approximately 3.16% of Torray’s portfolio.

Other Hedge Funds, Including , Mariner Investment Group reduced its stake in MDVN by selling 35,000 shares or 32.29% in the most recent quarter. The Hedge Fund company now holds 73,400 shares of MDVN which is valued at $4,404,000. Medivation Inc makes up approx 1.22% of Mariner Investment Group’s portfolio.Great West Life Assurance Co Can boosted its stake in MDVN in the latest quarter, The investment management firm added 6,766 additional shares and now holds a total of 81,049 shares of Medivation Inc which is valued at $4,684,632. Medivation Inc makes up approx 0.02% of Great West Life Assurance Co Can’s portfolio. Highpoint Advisor Group added MDVN to its portfolio by purchasing 3,131 company shares during the most recent quarter which is valued at $180,972. Medivation Inc makes up approx 0.11% of Highpoint Advisor Group’s portfolio.Rhenman Partners Asset Management Ab boosted its stake in MDVN in the latest quarter, The investment management firm added 27,000 additional shares and now holds a total of 187,000 shares of Medivation Inc which is valued at $9,843,680. Medivation Inc makes up approx 1.78% of Rhenman Partners Asset Management Ab’s portfolio. Joel Isaacson added MDVN to its portfolio by purchasing 100 company shares during the most recent quarter which is valued at $5,264.

Medivation Inc closed down -0.54 points or -0.86% at $62 with 36,38,842 shares getting traded on Tuesday. Post opening the session at $62.56, the shares hit an intraday low of $61.55 and an intraday high of $62.94 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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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