Commerzbank Aktiengesellschaft FI Raises Position in BioMarin Pharmaceutical Inc. (BMRN)

Commerzbank Aktiengesellschaft FI increased its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 145.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,045 shares of the biotechnology company’s stock after buying an additional 4,175 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in BioMarin Pharmaceutical were worth $628,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pictet Asset Management Ltd. raised its position in BioMarin Pharmaceutical by 17.0% in the third quarter. Pictet Asset Management Ltd. now owns 1,134,622 shares of the biotechnology company’s stock valued at $105,599,000 after purchasing an additional 164,788 shares during the period. TCW Group Inc. raised its position in BioMarin Pharmaceutical by 20.1% in the third quarter. TCW Group Inc. now owns 1,072,969 shares of the biotechnology company’s stock valued at $99,862,000 after purchasing an additional 179,879 shares during the period. Frontier Capital Management Co. LLC raised its position in BioMarin Pharmaceutical by 9.5% in the fourth quarter. Frontier Capital Management Co. LLC now owns 828,666 shares of the biotechnology company’s stock valued at $73,892,000 after purchasing an additional 72,120 shares during the period. Legal & General Group Plc raised its position in BioMarin Pharmaceutical by 3.8% in the third quarter. Legal & General Group Plc now owns 749,150 shares of the biotechnology company’s stock valued at $69,723,000 after purchasing an additional 27,752 shares during the period. Finally, Swiss National Bank raised its position in BioMarin Pharmaceutical by 1.8% in the third quarter. Swiss National Bank now owns 643,200 shares of the biotechnology company’s stock valued at $59,863,000 after purchasing an additional 11,600 shares during the period. 98.83% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have commented on the company. Zacks Investment Research lowered BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Wednesday, January 17th. JPMorgan Chase & Co. cut their price objective on BioMarin Pharmaceutical from $131.00 to $129.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 24th. BMO Capital Markets reissued a “buy” rating and issued a $117.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, October 20th. SunTrust Banks set a $115.00 price objective on BioMarin Pharmaceutical and gave the company a “buy” rating in a research report on Thursday, October 19th. Finally, Wedbush raised BioMarin Pharmaceutical from a “neutral” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research report on Thursday, December 14th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $111.60.

In related news, Director Elaine J. Heron sold 800 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $88.90, for a total value of $71,120.00. Following the completion of the transaction, the director now directly owns 38,385 shares in the company, valued at $3,412,426.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP George Eric Davis sold 1,200 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $85.64, for a total value of $102,768.00. The disclosure for this sale can be found here. Insiders have sold 90,750 shares of company stock valued at $8,159,588 over the last 90 days. Insiders own 1.85% of the company’s stock.

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) opened at $87.41 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.81 and a current ratio of 4.91. BioMarin Pharmaceutical Inc. has a 52 week low of $80.10 and a 52 week high of $100.51.

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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).

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

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