BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Position Lessened by Commerzbank Aktiengesellschaft FI

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Commerzbank Aktiengesellschaft FI decreased its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 12.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,425 shares of the biotechnology company’s stock after selling 1,359 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in BioMarin Pharmaceutical were worth $888,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Palo Alto Investors LP boosted its stake in BioMarin Pharmaceutical by 1.9% during the first quarter. Palo Alto Investors LP now owns 2,545,482 shares of the biotechnology company’s stock worth $206,362,000 after buying an additional 47,676 shares during the period. USS Investment Management Ltd boosted its stake in BioMarin Pharmaceutical by 22.9% during the first quarter. USS Investment Management Ltd now owns 1,339,671 shares of the biotechnology company’s stock worth $111,869,000 after buying an additional 249,738 shares during the period. Thrivent Financial for Lutherans boosted its stake in BioMarin Pharmaceutical by 581.0% during the first quarter. Thrivent Financial for Lutherans now owns 1,224,776 shares of the biotechnology company’s stock worth $99,293,000 after buying an additional 1,044,921 shares during the period. Frontier Capital Management Co. LLC boosted its stake in BioMarin Pharmaceutical by 42.8% during the second quarter. Frontier Capital Management Co. LLC now owns 1,210,472 shares of the biotechnology company’s stock worth $114,026,000 after buying an additional 362,531 shares during the period. Finally, Fred Alger Management Inc. boosted its stake in BioMarin Pharmaceutical by 4.3% during the second quarter. Fred Alger Management Inc. now owns 974,473 shares of the biotechnology company’s stock worth $91,795,000 after buying an additional 39,852 shares during the period.

In other news, Director V Bryan Lawlis sold 2,150 shares of the stock in a transaction that occurred on Wednesday, June 27th. The stock was sold at an average price of $93.52, for a total transaction of $201,068.00. Following the transaction, the director now owns 21,310 shares in the company, valued at approximately $1,992,911.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert Baffi sold 6,949 shares of the stock in a transaction on Friday, June 22nd. The shares were sold at an average price of $99.00, for a total value of $687,951.00. Following the completion of the transaction, the executive vice president now directly owns 90,225 shares of the company’s stock, valued at $8,932,275. The disclosure for this sale can be found here. Insiders have sold a total of 77,617 shares of company stock worth $7,738,695 in the last quarter. Insiders own 1.90% of the company’s stock.

Several research firms have commented on BMRN. Wedbush set a $120.00 price objective on shares of BioMarin Pharmaceutical and gave the stock a “buy” rating in a research note on Thursday. Zacks Investment Research raised shares of BioMarin Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Friday, September 7th. ValuEngine lowered shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Saturday, September 1st. TheStreet raised shares of BioMarin Pharmaceutical from a “d+” rating to a “c-” rating in a research note on Friday, August 17th. Finally, Citigroup upped their price objective on shares of BioMarin Pharmaceutical from $108.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, August 9th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. BioMarin Pharmaceutical presently has a consensus rating of “Buy” and an average price target of $116.28.

NASDAQ:BMRN traded down $0.16 during midday trading on Friday, hitting $99.41. The company’s stock had a trading volume of 1,295,670 shares, compared to its average volume of 980,941. The company has a current ratio of 2.83, a quick ratio of 2.24 and a debt-to-equity ratio of 0.28. BioMarin Pharmaceutical Inc. has a fifty-two week low of $75.81 and a fifty-two week high of $106.20. The company has a market cap of $17.51 billion, a PE ratio of -148.37 and a beta of 1.63.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Thursday, August 2nd. The biotechnology company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.03). BioMarin Pharmaceutical had a negative return on equity of 3.00% and a negative net margin of 8.68%. The company had revenue of $372.80 million during the quarter, compared to analysts’ expectations of $359.25 million. During the same quarter in the prior year, the company posted ($0.21) EPS. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. equities research analysts predict that BioMarin Pharmaceutical Inc. will post -0.24 earnings per share for the current fiscal year.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical, Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme that is used for the treatment of patients with mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Firdapse for Lambert Eaton Myasthenic Syndrome.

Further Reading: How to calculate the intrinsic value of a stock

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

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