Symphony Asset Management LLC Buys 73 Shares of BioMarin Pharmaceutical Inc. (BMRN)

Symphony Asset Management LLC raised its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 6,465 shares of the biotechnology company’s stock after buying an additional 73 shares during the quarter. Symphony Asset Management LLC’s holdings in BioMarin Pharmaceutical were worth $587,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of BMRN. Jennison Associates LLC lifted its stake in BioMarin Pharmaceutical by 33.8% in the second quarter. Jennison Associates LLC now owns 13,242,773 shares of the biotechnology company’s stock valued at $1,202,709,000 after buying an additional 3,348,168 shares during the last quarter. Primecap Management Co. CA lifted its stake in BioMarin Pharmaceutical by 10.5% in the first quarter. Primecap Management Co. CA now owns 8,712,268 shares of the biotechnology company’s stock valued at $764,763,000 after buying an additional 826,320 shares during the last quarter. USS Investment Management Ltd lifted its stake in BioMarin Pharmaceutical by 214.7% in the second quarter. USS Investment Management Ltd now owns 1,089,933 shares of the biotechnology company’s stock valued at $98,988,000 after buying an additional 743,599 shares during the last quarter. Vanguard Group Inc. lifted its stake in BioMarin Pharmaceutical by 3.7% in the first quarter. Vanguard Group Inc. now owns 13,702,404 shares of the biotechnology company’s stock valued at $1,202,796,000 after buying an additional 495,118 shares during the last quarter. Finally, Manning & Napier Advisors LLC lifted its stake in BioMarin Pharmaceutical by 25.2% in the second quarter. Manning & Napier Advisors LLC now owns 2,118,486 shares of the biotechnology company’s stock valued at $192,399,000 after buying an additional 426,016 shares during the last quarter. Institutional investors own 97.42% of the company’s stock.

BioMarin Pharmaceutical Inc. (NASDAQ BMRN) opened at 91.25 on Friday. The stock’s market cap is $15.99 billion. The company has a 50-day moving average price of $86.36 and a 200-day moving average price of $89.56. BioMarin Pharmaceutical Inc. has a 52 week low of $78.42 and a 52 week high of $101.27.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.01. The business had revenue of $317.50 million during the quarter, compared to the consensus estimate of $311.41 million. BioMarin Pharmaceutical had a negative return on equity of 5.77% and a negative net margin of 15.54%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($2.61) earnings per share. Analysts anticipate that BioMarin Pharmaceutical Inc. will post ($0.71) earnings per share for the current year.

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In related news, SVP Brian Mueller sold 2,671 shares of the company’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $100.00, for a total value of $267,100.00. Following the completion of the sale, the senior vice president now owns 15,556 shares in the company, valued at $1,555,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Henry J. Fuchs sold 15,000 shares of the company’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $90.00, for a total value of $1,350,000.00. Following the completion of the sale, the insider now owns 141,422 shares of the company’s stock, valued at approximately $12,727,980. The disclosure for this sale can be found here. Insiders sold 27,515 shares of company stock valued at $2,568,030 in the last quarter. 2.50% of the stock is currently owned by corporate insiders.

BMRN has been the topic of a number of recent analyst reports. Royal Bank Of Canada initiated coverage on shares of BioMarin Pharmaceutical in a research note on Thursday. They set a “sector perform” rating and a $93.00 price objective on the stock. Piper Jaffray Companies initiated coverage on shares of BioMarin Pharmaceutical in a research note on Thursday. They set an “overweight” rating and a $113.00 price objective on the stock. Citigroup Inc. initiated coverage on shares of BioMarin Pharmaceutical in a research note on Thursday, August 31st. They set a “buy” rating and a $98.00 price objective on the stock. Jefferies Group LLC set a $116.00 price objective on shares of BioMarin Pharmaceutical and gave the company a “buy” rating in a research note on Friday, August 25th. Finally, BidaskClub cut shares of BioMarin Pharmaceutical from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $109.09.

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).

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

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