ING Groep NV bought a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,450 shares of the biotechnology company’s stock, valued at approximately $507,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. boosted its holdings in BioMarin Pharmaceutical by 14.0% in the third quarter. Pacer Advisors Inc. now owns 6,066 shares of the biotechnology company’s stock valued at $565,000 after purchasing an additional 744 shares in the last quarter. Commerce Bank acquired a new position in BioMarin Pharmaceutical in the third quarter valued at approximately $209,000. Quantbot Technologies LP boosted its holdings in BioMarin Pharmaceutical by 1,330.8% in the third quarter. Quantbot Technologies LP now owns 2,833 shares of the biotechnology company’s stock valued at $263,000 after purchasing an additional 2,635 shares in the last quarter. Ironsides Asset Advisors LLC acquired a new position in BioMarin Pharmaceutical in the third quarter valued at approximately $344,000. Finally, Comgest Global Investors S.A.S. boosted its holdings in BioMarin Pharmaceutical by 6.3% in the third quarter. Comgest Global Investors S.A.S. now owns 25,500 shares of the biotechnology company’s stock valued at $2,373,000 after purchasing an additional 1,500 shares in the last quarter. Hedge funds and other institutional investors own 99.31% of the company’s stock.

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) opened at $82.56 on Wednesday. BioMarin Pharmaceutical Inc. has a fifty-two week low of $79.50 and a fifty-two week high of $100.51. 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 (NASDAQ:BMRN) last posted its quarterly earnings data on Thursday, October 26th. The biotechnology company reported ($0.07) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.06. The business had revenue of $334.18 million during the quarter, compared to the consensus estimate of $347.38 million. BioMarin Pharmaceutical had a negative return on equity of 4.60% and a negative net margin of 12.45%. The company’s revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.02 earnings per share. analysts anticipate that BioMarin Pharmaceutical Inc. will post -0.65 EPS for the current fiscal year.

In related news, EVP Robert Baffi sold 18,415 shares of the stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $92.43, for a total transaction of $1,702,098.45. Following the completion of the sale, the executive vice president now directly owns 129,083 shares of the company’s stock, valued at $11,931,141.69. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jeffrey Robert Ajer sold 3,521 shares of the stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $95.00, for a total value of $334,495.00. Following the sale, the executive vice president now directly owns 49,299 shares of the company’s stock, valued at $4,683,405. The disclosure for this sale can be found here. Insiders sold 40,686 shares of company stock valued at $3,736,318 over the last three months. Corporate insiders own 1.85% of the company’s stock.

A number of equities analysts recently issued reports on BMRN shares. Zacks Investment Research downgraded BioMarin Pharmaceutical from a “hold” rating to a “sell” rating in a report on Monday, October 16th. Piper Jaffray Companies started coverage on BioMarin Pharmaceutical in a report on Thursday, September 14th. They issued an “overweight” rating and a $113.00 price target for the company. Citigroup started coverage on BioMarin Pharmaceutical in a report on Thursday, August 31st. They issued a “buy” rating and a $98.00 price target for the company. Royal Bank Of Canada started coverage on BioMarin Pharmaceutical in a report on Thursday, September 14th. They issued a “sector perform” rating and a $93.00 price target for the company. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $117.00 price target (up from $115.00) on shares of BioMarin Pharmaceutical in a report on Friday, October 6th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. BioMarin Pharmaceutical has an average rating of “Hold” and a consensus target price of $111.59.

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BioMarin Pharmaceutical 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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