Viking Global Investors LP decreased its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 49.5% during the second quarter, Holdings Channel.com reports. The fund owned 2,590,351 shares of the biotechnology company’s stock after selling 2,538,558 shares during the period. BioMarin Pharmaceutical accounts for approximately 1.0% of Viking Global Investors LP’s holdings, making the stock its 26th biggest holding. Viking Global Investors LP’s holdings in BioMarin Pharmaceutical were worth $221,864,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Geode Capital Management LLC boosted its position in BioMarin Pharmaceutical by 6.0% in the fourth quarter. Geode Capital Management LLC now owns 1,643,507 shares of the biotechnology company’s stock valued at $139,844,000 after buying an additional 92,519 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in BioMarin Pharmaceutical by 7.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 309,779 shares of the biotechnology company’s stock valued at $26,375,000 after buying an additional 21,009 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in BioMarin Pharmaceutical by 4.0% in the first quarter. Janney Montgomery Scott LLC now owns 6,940 shares of the biotechnology company’s stock valued at $616,000 after buying an additional 268 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in BioMarin Pharmaceutical by 49.4% in the first quarter. Robeco Institutional Asset Management B.V. now owns 4,726 shares of the biotechnology company’s stock valued at $419,000 after buying an additional 1,562 shares during the last quarter. Finally, Comerica Bank boosted its position in BioMarin Pharmaceutical by 26.0% in the first quarter. Comerica Bank now owns 12,674 shares of the biotechnology company’s stock valued at $1,170,000 after buying an additional 2,614 shares during the last quarter. Institutional investors and hedge funds own 97.93% of the company’s stock.

BioMarin Pharmaceutical stock traded up $0.23 during mid-day trading on Wednesday, hitting $75.23. The company had a trading volume of 113,069 shares, compared to its average volume of 956,317. The company has a current ratio of 4.11, a quick ratio of 2.79 and a debt-to-equity ratio of 0.28. BioMarin Pharmaceutical Inc. has a 12-month low of $70.82 and a 12-month high of $106.74. The company’s fifty day moving average is $75.41 and its 200-day moving average is $83.52. The company has a market capitalization of $13.48 billion, a price-to-earnings ratio of -228.76 and a beta of 1.32.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.16). BioMarin Pharmaceutical had a negative return on equity of 3.12% and a negative net margin of 7.19%. The company had revenue of $388.00 million during the quarter, compared to analysts’ expectations of $415.03 million. During the same quarter in the prior year, the company posted ($0.09) EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, sell-side analysts expect that BioMarin Pharmaceutical Inc. will post -0.03 EPS for the current fiscal year.

BMRN has been the topic of a number of recent research reports. Citigroup reiterated a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Thursday, May 23rd. Wedbush reiterated an “outperform” rating and issued a $128.00 target price on shares of BioMarin Pharmaceutical in a research report on Wednesday, July 10th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $133.00 target price on shares of BioMarin Pharmaceutical in a research report on Monday, August 5th. Stifel Nicolaus set a $108.00 target price on BioMarin Pharmaceutical and gave the company a “buy” rating in a research report on Friday, September 13th. Finally, BidaskClub lowered BioMarin Pharmaceutical from a “sell” rating to a “strong sell” rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company’s stock. BioMarin Pharmaceutical currently has an average rating of “Buy” and an average price target of $115.33.

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 to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.

See Also: What is a put option?

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.