Palo Alto Investors LLC lifted its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 0.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,384,719 shares of the biotechnology company’s stock after buying an additional 2,100 shares during the period. BioMarin Pharmaceutical makes up about 10.1% of Palo Alto Investors LLC’s investment portfolio, making the stock its 4th biggest position. Palo Alto Investors LLC owned approximately 1.36% of BioMarin Pharmaceutical worth $216,580,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BMRN. Jennison Associates LLC boosted its stake in shares of BioMarin Pharmaceutical by 33.8% in the 2nd quarter. Jennison Associates LLC now owns 13,242,773 shares of the biotechnology company’s stock worth $1,202,709,000 after buying an additional 3,348,168 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of BioMarin Pharmaceutical by 63.7% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 2,251,011 shares of the biotechnology company’s stock worth $204,437,000 after buying an additional 875,686 shares during the last quarter. USS Investment Management Ltd boosted its stake in shares of BioMarin Pharmaceutical by 214.7% in the 2nd quarter. USS Investment Management Ltd now owns 1,089,933 shares of the biotechnology company’s stock worth $98,988,000 after buying an additional 743,599 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of BioMarin Pharmaceutical by 4.7% in the 2nd quarter. Vanguard Group Inc. now owns 14,345,027 shares of the biotechnology company’s stock worth $1,302,816,000 after buying an additional 642,623 shares during the last quarter. Finally, Manning & Napier Advisors LLC boosted its stake in shares of BioMarin Pharmaceutical by 25.2% in the 2nd quarter. Manning & Napier Advisors LLC now owns 2,118,486 shares of the biotechnology company’s stock worth $192,399,000 after buying an additional 426,016 shares during the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

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A number of research firms have recently issued reports on BMRN. Deutsche Bank AG restated a “buy” rating and issued a $119.00 price target (up from $118.00) on shares of BioMarin Pharmaceutical in a research note on Wednesday, August 9th. Jefferies Group LLC restated a “buy” rating and issued a $116.00 price target on shares of BioMarin Pharmaceutical in a research note on Tuesday, September 26th. Wedbush restated a “neutral” rating and issued a $108.00 price target on shares of BioMarin Pharmaceutical in a research note on Monday, August 7th. UBS AG restated a “neutral” rating and issued a $93.00 price target (up from $92.00) on shares of BioMarin Pharmaceutical in a research note on Thursday, August 3rd. Finally, Cowen and Company restated a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. BioMarin Pharmaceutical has a consensus rating of “Hold” and a consensus price target of $109.09.

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) traded up 0.070% during midday trading on Thursday, hitting $93.265. The stock had a trading volume of 237,332 shares. The firm has a 50 day moving average price of $89.07 and a 200-day moving average price of $89.65. The stock’s market cap is $16.35 billion. BioMarin Pharmaceutical Inc. has a 52-week low of $78.42 and a 52-week high of $100.51.

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, beating the Zacks’ consensus estimate of ($0.22) by $0.01. The firm had revenue of $317.50 million for the quarter, compared to analyst estimates of $311.41 million. BioMarin Pharmaceutical had a negative net margin of 15.54% and a negative return on equity of 5.77%. BioMarin Pharmaceutical’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company posted ($2.61) EPS. Equities analysts predict that BioMarin Pharmaceutical Inc. will post ($0.71) EPS for the current fiscal year.

In related news, insider Henry J. Fuchs sold 15,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $90.50, for a total value of $1,357,500.00. Following the transaction, the insider now directly owns 141,422 shares of the company’s stock, valued at approximately $12,798,691. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director V Bryan Lawlis sold 3,750 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $91.26, for a total transaction of $342,225.00. Following the completion of the transaction, the director now directly owns 19,660 shares in the company, valued at $1,794,171.60. The disclosure for this sale can be found here. Insiders sold a total of 40,686 shares of company stock worth $3,736,318 over the last ninety days. 1.85% of the stock is currently owned by corporate insiders.

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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