BioMarin Pharmaceutical Inc. (BMRN) Position Decreased by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. reduced its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 12.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 476,166 shares of the biotechnology company’s stock after selling 69,208 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.27% of BioMarin Pharmaceutical worth $44,317,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cigna Investments Inc. New raised its position in BioMarin Pharmaceutical by 1.5% in the second quarter. Cigna Investments Inc. New now owns 2,377 shares of the biotechnology company’s stock worth $216,000 after acquiring an additional 36 shares during the period. Daiwa Securities Group Inc. raised its position in BioMarin Pharmaceutical by 1.0% in the second quarter. Daiwa Securities Group Inc. now owns 4,950 shares of the biotechnology company’s stock worth $450,000 after acquiring an additional 50 shares during the period. Ameritas Investment Partners Inc. raised its position in BioMarin Pharmaceutical by 1.8% in the second quarter. Ameritas Investment Partners Inc. now owns 3,126 shares of the biotechnology company’s stock worth $284,000 after acquiring an additional 54 shares during the period. NGAM Advisors L.P. raised its position in BioMarin Pharmaceutical by 0.4% in the second quarter. NGAM Advisors L.P. now owns 15,245 shares of the biotechnology company’s stock worth $1,385,000 after acquiring an additional 55 shares during the period. Finally, Symphony Asset Management LLC raised its position in BioMarin Pharmaceutical by 1.1% in the second quarter. Symphony Asset Management LLC now owns 6,465 shares of the biotechnology company’s stock worth $587,000 after acquiring an additional 73 shares during the period. 95.98% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Inc. (NASDAQ BMRN) traded up $0.07 during trading hours on Tuesday, reaching $82.95. 1,124,000 shares of the company were exchanged, compared to its average volume of 1,244,525. BioMarin Pharmaceutical Inc. has a 52 week low of $79.50 and a 52 week high of $100.51. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.91 and a quick ratio of 3.81.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Thursday, October 26th. The biotechnology company reported ($0.07) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.06. The company had revenue of $334.18 million during the quarter, compared to analyst estimates of $347.38 million. BioMarin Pharmaceutical had a negative net margin of 12.45% and a negative return on equity of 4.60%. The firm’s revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.02 EPS. equities research analysts expect that BioMarin Pharmaceutical Inc. will post -0.65 EPS for the current fiscal year.

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In other news, EVP Robert Baffi sold 18,415 shares of the company’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $92.43, for a total value of $1,702,098.45. Following the sale, the executive vice president now directly owns 129,083 shares of the company’s stock, valued at approximately $11,931,141.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director V Bryan Lawlis sold 3,750 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $91.26, for a total transaction of $342,225.00. Following the completion of the sale, the director now directly owns 19,660 shares in the company, valued at $1,794,171.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,686 shares of company stock worth $3,736,318. Insiders own 1.85% of the company’s stock.

BMRN has been the topic of several research reports. Citigroup Inc. began coverage on shares of BioMarin Pharmaceutical in a research report on Thursday, August 31st. They issued a “buy” rating and a $98.00 price objective on the stock. Jefferies Group LLC set a $116.00 target price on shares of BioMarin Pharmaceutical and gave the stock a “buy” rating in a research note on Friday, August 25th. Stifel Nicolaus reiterated a “buy” rating and issued a $107.00 target price on shares of BioMarin Pharmaceutical in a research note on Friday, August 4th. Cowen and Company reiterated a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Friday, August 4th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $119.00 target price (up previously from $118.00) on shares of BioMarin Pharmaceutical in a research note on Thursday, August 3rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $111.55.

About BioMarin Pharmaceutical

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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