Numeric Investors LLC Raises Stake in BioMarin Pharmaceutical Inc. (BMRN)

Numeric Investors LLC lifted its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 168.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,100 shares of the biotechnology company’s stock after acquiring an additional 10,100 shares during the period. Numeric Investors LLC’s holdings in BioMarin Pharmaceutical were worth $1,462,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of BMRN. Parallel Advisors LLC increased its position in shares of BioMarin Pharmaceutical by 13.6% during the first quarter. Parallel Advisors LLC now owns 1,042 shares of the biotechnology company’s stock worth $100,000 after acquiring an additional 125 shares in the last quarter. Global X Management Co. LLC increased its position in shares of BioMarin Pharmaceutical by 59.7% during the first quarter. Global X Management Co. LLC now owns 1,656 shares of the biotechnology company’s stock worth $145,000 after acquiring an additional 619 shares in the last quarter. Korea Investment CORP increased its position in shares of BioMarin Pharmaceutical by 143.5% during the second quarter. Korea Investment CORP now owns 1,595 shares of the biotechnology company’s stock worth $145,000 after acquiring an additional 940 shares in the last quarter. Mutual of America Capital Management LLC increased its position in shares of BioMarin Pharmaceutical by 20.0% during the first quarter. Mutual of America Capital Management LLC now owns 2,066 shares of the biotechnology company’s stock worth $181,000 after acquiring an additional 344 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in shares of BioMarin Pharmaceutical during the second quarter worth $213,000. 97.47% of the stock is owned by institutional investors.

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Several brokerages have recently issued reports on BMRN. Wedbush reissued a “neutral” rating and set a $108.00 price objective on shares of BioMarin Pharmaceutical in a research report on Monday, August 7th. Jefferies Group LLC reissued a “buy” rating and set a $116.00 price objective on shares of BioMarin Pharmaceutical in a research report on Tuesday, September 26th. Piper Jaffray Companies reissued a “buy” rating and set a $113.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, September 21st. Zacks Investment Research raised shares of BioMarin Pharmaceutical from a “hold” rating to a “strong-buy” rating and set a $105.00 price objective for the company in a research report on Monday, July 17th. Finally, Cowen and Company reissued a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $110.21.

In other BioMarin Pharmaceutical news, insider Henry J. Fuchs sold 15,000 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $90.50, for a total transaction of $1,357,500.00. Following the sale, the insider now directly owns 141,422 shares of the company’s stock, valued at $12,798,691. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Robert Baffi sold 18,415 shares of the company’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $92.43, for a total transaction of $1,702,098.45. Following the sale, the executive vice president now directly owns 129,083 shares in the company, valued at $11,931,141.69. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,686 shares of company stock worth $3,736,318. Insiders own 1.85% of the company’s stock.

Shares of BioMarin Pharmaceutical Inc. (NASDAQ BMRN) opened at 94.81 on Monday. The firm’s market cap is $16.62 billion. BioMarin Pharmaceutical Inc. has a 1-year low of $78.42 and a 1-year high of $100.51. The stock’s 50 day moving average is $89.79 and its 200-day moving average is $89.72.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.01. The company had revenue of $317.50 million for the quarter, compared to the consensus estimate of $311.41 million. BioMarin Pharmaceutical had a negative net margin of 15.54% and a negative return on equity of 5.77%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($2.61) EPS. Analysts expect that BioMarin Pharmaceutical Inc. will post ($0.71) earnings per share for the current year.

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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