Sectoral Asset Management Inc lowered its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 23.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 238,413 shares of the biotechnology company’s stock after selling 74,969 shares during the quarter. BioMarin Pharmaceutical comprises approximately 2.9% of Sectoral Asset Management Inc’s investment portfolio, making the stock its 10th largest holding. Sectoral Asset Management Inc owned about 0.14% of BioMarin Pharmaceutical worth $22,189,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Korea Investment CORP lifted its stake in BioMarin Pharmaceutical by 143.5% during 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. Global X Management Co. LLC lifted its stake in BioMarin Pharmaceutical by 16.8% during the 2nd quarter. Global X Management Co. LLC now owns 1,935 shares of the biotechnology company’s stock valued at $176,000 after acquiring an additional 279 shares in the last quarter. Toronto Dominion Bank lifted its stake in BioMarin Pharmaceutical by 12.9% during the 2nd quarter. Toronto Dominion Bank now owns 2,124 shares of the biotechnology company’s stock valued at $193,000 after acquiring an additional 243 shares in the last quarter. Commerce Bank bought a new position in BioMarin Pharmaceutical during the 3rd quarter valued at $209,000. Finally, Cambridge Investment Research Advisors Inc. bought a new position in BioMarin Pharmaceutical during the 2nd quarter valued at $213,000. 99.26% of the stock is owned by institutional investors and hedge funds.

In related news, EVP George Eric Davis sold 1,200 shares of the business’s 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Robert Baffi sold 18,415 shares of the business’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $92.43, for a total value of $1,702,098.45. Following the completion of the sale, the executive vice president now owns 129,083 shares in the company, valued at $11,931,141.69. The disclosure for this sale can be found here. Insiders sold a total of 41,886 shares of company stock worth $3,839,086 over the last 90 days. 1.85% of the stock is currently owned by company insiders.

Several equities analysts have weighed in on BMRN shares. Morgan Stanley restated an “overweight” rating and set a $117.00 price objective (up from $115.00) on shares of BioMarin Pharmaceutical in a research note on Friday, October 6th. Stifel Nicolaus dropped their price objective on BioMarin Pharmaceutical from $107.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, October 27th. BMO Capital Markets restated a “buy” rating and set a $117.00 price objective on shares of BioMarin Pharmaceutical in a research note on Friday, October 20th. Goldman Sachs Group restated a “buy” rating and set a $129.00 price objective on shares of BioMarin Pharmaceutical in a research note on Friday, October 6th. Finally, J P Morgan Chase & Co set a $130.00 price objective on BioMarin Pharmaceutical and gave the company a “buy” rating in a research note on Sunday, October 29th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $111.59.

Shares of BioMarin Pharmaceutical Inc. (BMRN) opened at $80.90 on Friday. BioMarin Pharmaceutical Inc. has a 52 week low of $80.10 and a 52 week high of $100.51. The company has a current ratio of 4.91, a quick ratio of 3.81 and a debt-to-equity ratio of 0.41.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Thursday, October 26th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.06. BioMarin Pharmaceutical had a negative return on equity of 4.60% and a negative net margin of 12.45%. The business had revenue of $334.18 million for the quarter, compared to analysts’ expectations of $347.38 million. During the same period in the previous year, the business posted $0.02 EPS. The firm’s quarterly revenue was up 19.4% compared to the same quarter last year. analysts anticipate that BioMarin Pharmaceutical Inc. will post -0.65 earnings per share for the current year.

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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).

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

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