Amalgamated Bank Has $1.62 Million Stake in BioMarin Pharmaceutical Inc. (BMRN)

Amalgamated Bank grew its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 74.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,842 shares of the biotechnology company’s stock after acquiring an additional 7,628 shares during the period. Amalgamated Bank’s holdings in BioMarin Pharmaceutical were worth $1,620,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Parallel Advisors LLC grew its holdings in shares of BioMarin Pharmaceutical by 13.6% in the 1st quarter. Parallel Advisors LLC now owns 1,042 shares of the biotechnology company’s stock valued at $100,000 after acquiring an additional 125 shares in the last quarter. Korea Investment CORP grew its holdings in shares of BioMarin Pharmaceutical by 143.5% in the 2nd quarter. Korea Investment CORP now owns 1,595 shares of the biotechnology company’s stock valued at $145,000 after acquiring an additional 940 shares in the last quarter. Global X Management Co. LLC grew its holdings in shares of BioMarin Pharmaceutical by 59.7% in the 1st quarter. Global X Management Co. LLC now owns 1,656 shares of the biotechnology company’s stock valued at $145,000 after acquiring an additional 619 shares in the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of BioMarin Pharmaceutical by 20.0% in the 1st quarter. Mutual of America Capital Management LLC now owns 2,066 shares of the biotechnology company’s stock valued at $181,000 after acquiring an additional 344 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new position in shares of BioMarin Pharmaceutical in the 2nd quarter valued at about $213,000. Institutional investors own 97.46% of the company’s stock.

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In related news, EVP George Eric Davis sold 9,844 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $96.60, for a total transaction of $950,930.40. Following the sale, the executive vice president now directly owns 93,425 shares in the company, valued at approximately $9,024,855. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Henry J. Fuchs sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $90.50, for a total transaction of $1,357,500.00. Following the sale, the insider now owns 141,422 shares in the company, valued at $12,798,691. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,594 shares of company stock worth $2,650,655. Corporate insiders own 2.50% of the company’s stock.

BioMarin Pharmaceutical Inc. (NASDAQ BMRN) opened at 92.57 on Thursday. The company’s market capitalization is $16.22 billion. BioMarin Pharmaceutical Inc. has a one year low of $78.42 and a one year high of $100.51. The stock’s 50 day moving average is $86.72 and its 200 day moving average is $89.48.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.01. The firm had revenue of $317.50 million for 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%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned ($2.61) earnings per share. On average, analysts anticipate that BioMarin Pharmaceutical Inc. will post ($0.71) earnings per share for the current fiscal year.

Several brokerages have recently weighed in on BMRN. Piper Jaffray Companies began coverage on BioMarin Pharmaceutical in a report on Thursday, September 14th. They issued an “overweight” rating and a $113.00 price objective for the company. ValuEngine upgraded BioMarin Pharmaceutical from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Royal Bank Of Canada began coverage on BioMarin Pharmaceutical in a report on Thursday, September 14th. They issued a “sector perform” rating and a $93.00 price objective for the company. BMO Capital Markets restated a “buy” rating on shares of BioMarin Pharmaceutical in a report on Friday, September 15th. Finally, Zacks Investment Research upgraded BioMarin Pharmaceutical from a “hold” rating to a “strong-buy” rating and set a $105.00 price objective for the company in a report on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $109.09.

BioMarin Pharmaceutical 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).

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

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