Rhenman Partners Asset Management Ab Lowers stake in Medivation Inc (MDVN)

Medivation Inc (MDVN) : Rhenman Partners Asset Management Ab reduced its stake in Medivation Inc by 57.22% during the most recent quarter end. The investment management company now holds a total of 80,000 shares of Medivation Inc which is valued at $5,126,400 after selling 107,000 shares in Medivation Inc , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Medivation Inc makes up approximately 0.82% of Rhenman Partners Asset Management Ab’s portfolio.

Other Hedge Funds, Including , Jnba Financial Advisors sold out all of its stake in MDVN during the most recent quarter. The investment firm sold 80 shares of MDVN which is valued $5,010.Eqis Capital Management boosted its stake in MDVN in the latest quarter, The investment management firm added 2,044 additional shares and now holds a total of 46,837 shares of Medivation Inc which is valued at $2,895,932. Medivation Inc makes up approx 0.19% of Eqis Capital Management’s portfolio.Gradient Investments reduced its stake in MDVN by selling 172 shares or 42.79% in the most recent quarter. The Hedge Fund company now holds 230 shares of MDVN which is valued at $14,221.

Medivation Inc closed down -0.35 points or -0.55% at $63.73 with 10,22,493 shares getting traded on Thursday. Post opening the session at $63.96, the shares hit an intraday low of $63.48 and an intraday high of $64.39 and the price fluctuated in this range throughout the day.Shares ended Thursday 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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