Frontier Capital Management Co. LLC decreased its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 0.2% during the second quarter, Holdings Channel reports. The firm owned 810,372 shares of the biotechnology company’s stock after selling 1,512 shares during the period. Frontier Capital Management Co. LLC’s holdings in BioMarin Pharmaceutical were worth $73,598,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in BMRN. Parallel Advisors LLC increased its stake in BioMarin Pharmaceutical by 13.6% in the first quarter. Parallel Advisors LLC now owns 1,042 shares of the biotechnology company’s stock valued at $100,000 after buying an additional 125 shares during the period. Nikko Asset Management Americas Inc. purchased a new stake in BioMarin Pharmaceutical during the first quarter valued at $114,000. Global X Management Co. LLC increased its stake in BioMarin Pharmaceutical by 59.7% in the first quarter. Global X Management Co. LLC now owns 1,656 shares of the biotechnology company’s stock valued at $145,000 after buying an additional 619 shares during the last quarter. Korea Investment CORP increased its stake in BioMarin Pharmaceutical by 143.5% in the second quarter. Korea Investment CORP now owns 1,595 shares of the biotechnology company’s stock valued at $145,000 after buying an additional 940 shares during the last quarter. Finally, Toronto Dominion Bank increased its stake in BioMarin Pharmaceutical by 27.1% in the first quarter. Toronto Dominion Bank now owns 1,881 shares of the biotechnology company’s stock valued at $165,000 after buying an additional 401 shares during the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) opened at 80.92 on Friday. The stock’s 50 day moving average price is $87.59 and its 200 day moving average price is $89.88. The firm’s market capitalization is $14.18 billion. BioMarin Pharmaceutical Inc. has a 52 week low of $78.42 and a 52 week high of $102.06.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted 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. BioMarin Pharmaceutical had a negative return on equity of 5.77% and a negative net margin of 15.54%. The firm had revenue of $317.50 million for the quarter, compared to the consensus estimate of $311.41 million. During the same period in the previous year, the business earned ($2.61) earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities analysts expect that BioMarin Pharmaceutical Inc. will post ($0.72) EPS for the current year.

TRADEMARK VIOLATION NOTICE: This piece was originally published by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another publication, it was illegally stolen and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this piece can be viewed at https://www.watchlistnews.com/biomarin-pharmaceutical-inc-bmrn-shares-sold-by-frontier-capital-management-co-llc/1507561.html.

Several research firms recently weighed in on BMRN. Wedbush restated a “neutral” rating and issued a $108.00 price objective on shares of BioMarin Pharmaceutical in a report on Monday, August 7th. Deutsche Bank AG set a $105.00 price objective on BioMarin Pharmaceutical and gave the company a “buy” rating in a report on Friday, April 28th. Jefferies Group LLC restated a “buy” rating and issued a $116.00 price objective on shares of BioMarin Pharmaceutical in a report on Monday, May 15th. BMO Capital Markets decreased their price objective on BioMarin Pharmaceutical from $112.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, April 24th. Finally, J P Morgan Chase & Co restated a “buy” rating on shares of BioMarin Pharmaceutical in a report on Monday, May 1st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $109.73.

In other news, EVP George Eric Davis sold 9,471 shares of the business’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $91.04, for a total value of $862,239.84. Following the completion of the transaction, the executive vice president now directly owns 74,342 shares of the company’s stock, valued at $6,768,095.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jean Jacques Bienaime sold 10,000 shares of the business’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $90.13, for a total value of $901,300.00. Following the completion of the transaction, the chief executive officer now directly owns 238,564 shares of the company’s stock, valued at $21,501,773.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,740 shares of company stock valued at $5,200,939. 2.50% of the stock is currently owned by insiders.

BioMarin Pharmaceutical Company 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).

Want to see what other hedge funds are holding BMRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BioMarin Pharmaceutical Inc. (NASDAQ:BMRN).

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

Receive News & Ratings for BioMarin Pharmaceutical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioMarin Pharmaceutical Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.