State of Alaska Department of Revenue lowered its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 2.5% in the 2nd quarter, Holdings Channel reports. The firm owned 21,290 shares of the biotechnology company’s stock after selling 541 shares during the quarter. State of Alaska Department of Revenue’s holdings in BioMarin Pharmaceutical were worth $2,005,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Ladenburg Thalmann Financial Services Inc. lifted its stake in BioMarin Pharmaceutical by 22.9% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,224 shares of the biotechnology company’s stock worth $287,000 after purchasing an additional 600 shares during the last quarter. Glenmede Trust Co. NA lifted its stake in BioMarin Pharmaceutical by 3.7% during the fourth quarter. Glenmede Trust Co. NA now owns 17,520 shares of the biotechnology company’s stock worth $1,562,000 after purchasing an additional 622 shares during the last quarter. First Light Asset Management LLC lifted its stake in BioMarin Pharmaceutical by 2.0% during the first quarter. First Light Asset Management LLC now owns 31,850 shares of the biotechnology company’s stock worth $2,582,000 after purchasing an additional 637 shares during the last quarter. ETRADE Capital Management LLC lifted its stake in BioMarin Pharmaceutical by 9.5% during the first quarter. ETRADE Capital Management LLC now owns 7,545 shares of the biotechnology company’s stock worth $612,000 after purchasing an additional 653 shares during the last quarter. Finally, Elk Creek Partners LLC lifted its stake in BioMarin Pharmaceutical by 17.1% during the first quarter. Elk Creek Partners LLC now owns 5,591 shares of the biotechnology company’s stock worth $453,000 after purchasing an additional 817 shares during the last quarter.

In related news, Director V Bryan Lawlis sold 2,150 shares of the business’s stock in a transaction dated 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 document filed with the SEC, which can be accessed through the SEC website. Also, CFO Daniel K. Spiegelman sold 11,059 shares of the business’s stock in a transaction dated Monday, April 23rd. The shares were sold at an average price of $82.15, for a total value of $908,496.85. Following the transaction, the chief financial officer now owns 62,543 shares in the company, valued at approximately $5,137,907.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 165,519 shares of company stock worth $14,753,925. 1.90% of the stock is owned by company insiders.

Several research analysts have recently commented on BMRN shares. JPMorgan Chase & Co. set a $127.00 price objective on BioMarin Pharmaceutical and gave the stock a “buy” rating in a report on Thursday, April 26th. ValuEngine upgraded BioMarin Pharmaceutical from a “sell” rating to a “hold” rating in a report on Monday, May 28th. Canaccord Genuity lifted their price objective on BioMarin Pharmaceutical from $101.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, May 25th. Zacks Investment Research upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a report on Tuesday, April 24th. Finally, Leerink Swann lifted their price objective on BioMarin Pharmaceutical from $132.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, May 7th. Six equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $112.60.

Shares of BioMarin Pharmaceutical opened at $101.90 on Friday, Marketbeat Ratings reports. BioMarin Pharmaceutical Inc. has a 1 year low of $75.81 and a 1 year high of $104.46. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.90 and a quick ratio of 2.29.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Wednesday, April 25th. The biotechnology company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.08). BioMarin Pharmaceutical had a negative net margin of 10.48% and a negative return on equity of 3.01%. The business had revenue of $373.45 million for the quarter, compared to analysts’ expectations of $348.73 million. During the same quarter in the prior year, the firm earned $0.20 EPS. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. sell-side analysts expect that BioMarin Pharmaceutical Inc. will post -0.12 earnings per share for the current year.

BioMarin Pharmaceutical 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.

Read More: Price to Earnings Ratio (PE), For Valuing Stocks

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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioMarin Pharmaceutical and related companies with MarketBeat.com's FREE daily email newsletter.