Greenwood Capital Associates LLC increased its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 6.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,899 shares of the biotechnology company’s stock after buying an additional 337 shares during the period. Greenwood Capital Associates LLC’s holdings in BioMarin Pharmaceutical were worth $536,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Cigna Investments Inc. New raised its stake in shares of 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 buying an additional 36 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of 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 buying an additional 50 shares in the last quarter. NGAM Advisors L.P. raised its stake in shares of 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 buying an additional 55 shares in the last quarter. First American Trust FSB raised its stake in shares of BioMarin Pharmaceutical by 0.3% in the second quarter. First American Trust FSB now owns 26,696 shares of the biotechnology company’s stock worth $2,424,000 after buying an additional 73 shares in the last quarter. Finally, Comerica Bank raised its stake in shares of BioMarin Pharmaceutical by 1.0% in the second quarter. Comerica Bank now owns 7,358 shares of the biotechnology company’s stock worth $662,000 after buying an additional 76 shares in the last quarter. 97.42% of the stock is owned by institutional investors.

Shares of BioMarin Pharmaceutical Inc. (NASDAQ BMRN) opened at 83.81 on Wednesday. The company’s 50 day moving average is $86.39 and its 200 day moving average is $89.64. The company’s market capitalization is $14.69 billion. BioMarin Pharmaceutical Inc. has a 12-month low of $78.42 and a 12-month high of $101.27.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.01. BioMarin Pharmaceutical had a negative return on equity of 5.77% and a negative net margin of 15.54%. The firm had revenue of $317.50 million during the quarter, compared to analyst estimates of $311.41 million. During the same period last year, the firm posted ($2.61) EPS. The business’s revenue was up 5.8% compared to the same quarter last year. Analysts expect that BioMarin Pharmaceutical Inc. will post ($0.72) earnings per share for the current fiscal year.

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A number of brokerages have recently weighed in on BMRN. BidaskClub lowered shares of BioMarin Pharmaceutical from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Jefferies Group LLC reissued a “buy” rating and set a $116.00 target price on shares of BioMarin Pharmaceutical in a research note on Monday, May 15th. Stifel Nicolaus reissued a “buy” rating and set a $107.00 target price on shares of BioMarin Pharmaceutical in a research note on Friday, August 4th. Wedbush reissued a “neutral” rating and set a $108.00 target price on shares of BioMarin Pharmaceutical in a research note on Monday, August 7th. Finally, Evercore ISI assumed coverage on shares of BioMarin Pharmaceutical in a research note on Wednesday, August 16th. They set an “outperform” rating and a $100.00 target price for the company. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $109.73.

In related news, CEO Jean Jacques Bienaime sold 10,000 shares of BioMarin Pharmaceutical stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $90.13, for a total value of $901,300.00. Following the completion of the sale, the chief executive officer now owns 238,564 shares of the company’s stock, valued at approximately $21,501,773.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Brian Mueller sold 2,671 shares of BioMarin Pharmaceutical 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 directly owns 15,556 shares of the company’s stock, valued at approximately $1,555,600. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,740 shares of company stock valued at $4,759,039. Insiders own 2.50% of the company’s stock.

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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