Essex Investment Management Co. LLC Cuts Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Essex Investment Management Co. LLC lowered its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 0.3% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 7,503 shares of the biotechnology company’s stock after selling 23 shares during the period. Essex Investment Management Co. LLC’s holdings in BioMarin Pharmaceutical were worth $681,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC increased its stake in BioMarin Pharmaceutical by 13.6% in the first quarter. Parallel Advisors LLC now owns 1,042 shares of the biotechnology company’s stock valued at $100,000 after buying an additional 125 shares in the last quarter. Nikko Asset Management Americas Inc. bought a new stake in BioMarin Pharmaceutical during the first quarter valued at approximately $114,000. Global X Management Co. LLC increased its stake in BioMarin Pharmaceutical by 59.7% in the first quarter. Global X Management Co. LLC now owns 1,656 shares of the biotechnology company’s stock valued at $145,000 after buying an additional 619 shares in the last quarter. Toronto Dominion Bank increased its stake in BioMarin Pharmaceutical by 27.1% in the first quarter. Toronto Dominion Bank now owns 1,881 shares of the biotechnology company’s stock valued at $165,000 after buying an additional 401 shares in the last quarter. Finally, Mutual of America Capital Management LLC boosted its position in BioMarin Pharmaceutical by 20.0% in the first quarter. Mutual of America Capital Management LLC now owns 2,066 shares of the biotechnology company’s stock valued at $181,000 after buying an additional 344 shares during the last quarter. 96.82% of the stock is owned by institutional investors and hedge funds.

Shares of BioMarin Pharmaceutical Inc. (NASDAQ BMRN) opened at 82.40 on Friday. The company’s market cap is $14.44 billion. BioMarin Pharmaceutical Inc. has a 12-month low of $78.42 and a 12-month high of $102.06. The stock’s 50 day moving average price is $89.00 and its 200-day moving average price is $89.99.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.01. The company had revenue of $317.50 million during the quarter, compared to analysts’ expectations of $311.41 million. BioMarin Pharmaceutical had a negative net margin of 15.54% and a negative return on equity of 5.77%. BioMarin Pharmaceutical’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company posted ($2.61) EPS. On average, equities research analysts forecast that BioMarin Pharmaceutical Inc. will post ($0.71) earnings per share for the current year.

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BMRN has been the topic of several recent analyst reports. Cowen and Company restated a “buy” rating and issued a $150.00 price target on shares of BioMarin Pharmaceutical in a report on Monday, April 24th. Jefferies Group LLC reissued a “buy” rating and set a $116.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, May 5th. Zacks Investment Research raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $107.00 price target on the stock in a research note on Monday, May 1st. J P Morgan Chase & Co reissued a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Monday, May 1st. Finally, Credit Suisse Group reaffirmed a “buy” rating and issued a $116.00 target price on shares of BioMarin Pharmaceutical in a research report on Friday, April 28th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the company’s stock. BioMarin Pharmaceutical presently has a consensus rating of “Hold” and an average price target of $110.20.

In other news, Director V Bryan Lawlis sold 3,750 shares of the firm’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $90.00, for a total transaction of $337,500.00. Following the completion of the sale, the director now owns 19,660 shares in the company, valued at approximately $1,769,400. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP George Eric Davis sold 9,844 shares of BioMarin Pharmaceutical stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $96.60, for a total transaction of $950,930.40. Following the completion of the sale, the executive vice president now owns 93,425 shares of the company’s stock, valued at approximately $9,024,855. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,740 shares of company stock valued at $5,659,589. 2.50% of the stock is currently owned by corporate insiders.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A).

Institutional Ownership by Quarter for BioMarin Pharmaceutical (NASDAQ:BMRN)

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