Dai Ichi Life Insurance Company Ltd decreased its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 8.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,631 shares of the biotechnology company’s stock after selling 4,668 shares during the period. Dai Ichi Life Insurance Company Ltd’s holdings in BioMarin Pharmaceutical were worth $4,326,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BMRN. 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. 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. 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. Toronto Dominion Bank grew its holdings in shares of BioMarin Pharmaceutical by 27.1% in the 1st quarter. Toronto Dominion Bank now owns 1,881 shares of the biotechnology company’s stock valued at $165,000 after acquiring an additional 401 shares in the last quarter. Finally, 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. Institutional investors own 97.42% of the company’s stock.

Shares of BioMarin Pharmaceutical Inc. (NASDAQ BMRN) opened at 90.36 on Tuesday. The stock has a 50 day moving average of $86.00 and a 200-day moving average of $89.49. The firm’s market capitalization is $15.84 billion. 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 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. BioMarin Pharmaceutical had a negative net margin of 15.54% and a negative return on equity of 5.77%. The firm had revenue of $317.50 million during the quarter, compared to the consensus estimate of $311.41 million. During the same period in the prior year, the firm earned ($2.61) EPS. The company’s revenue was up 5.8% compared to the same quarter last year. Equities analysts expect that BioMarin Pharmaceutical Inc. will post ($0.71) earnings per share for the current fiscal year.

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BMRN has been the subject of several analyst reports. Deutsche Bank AG restated a “buy” rating and issued a $119.00 price objective (up previously from $118.00) on shares of BioMarin Pharmaceutical in a report on Thursday, August 3rd. 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. Citigroup Inc. initiated coverage on BioMarin Pharmaceutical in a report on Thursday, August 31st. They issued a “buy” rating and a $98.00 price objective for the company. Cowen and Company restated a “buy” rating on shares of BioMarin Pharmaceutical in a report on Tuesday, July 11th. Finally, Jefferies Group LLC set a $116.00 price objective on BioMarin Pharmaceutical and gave the company a “buy” rating in a report on Friday, August 25th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the company’s stock. BioMarin Pharmaceutical has a consensus rating of “Hold” and a consensus target price of $109.22.

In related news, SVP Brian Mueller sold 2,671 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $100.00, for a total value of $267,100.00. Following the completion of the transaction, the senior vice president now directly owns 15,556 shares of the company’s stock, valued at approximately $1,555,600. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director V Bryan Lawlis sold 3,750 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $90.00, for a total transaction of $337,500.00. Following the completion of the transaction, the director now directly owns 19,660 shares of the company’s stock, valued at $1,769,400. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,265 shares of company stock valued at $2,905,530. 2.50% of the stock is owned by insiders.

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).

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

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