Adage Capital Management reported a position of a little over 4 million shares in Medivation Inc (NASDAQ:MDVN), the developer of prostate cancer drug Xtandi. Research more stocks Adage has been buying. Xtandi has only recently started being marketed, and Medivation is researching other channels for using the drug against cancer. The company is currently unprofitable, though analyst consensus is for earnings per share of 41 cents in 2014. Medivation used $100 million of cash on operations in 2012, but the company has about $300 million in cash, cash equivalents, and short term investments so cash should not be a problem for now.
Brian Taylor and the team at Pine River Capital Management were bullish on Anworth Mortgage Asset Corporation (NYSE:ANH), owning 9.1 million shares (or 6.4% of the outstanding shares) according to a filing. Anworth is a real estate investment trust investing in mortgage-backed and other real estate securities. Real estate investment trusts are required to distribute a large share of their taxable income to shareholders in order to preserve their favorable tax status; this often results in high dividend yields, and Anworth’s yield is currently over 9%. We would note that dividend payments have been showing a downward trend the last few years.
Disclosure: I own no shares of any stocks mentioned in this article.