BioMarin Pharmaceutical Inc. (BMRN) Stake Boosted by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 8.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 106,296 shares of the biotechnology company’s stock after buying an additional 8,104 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.06% of BioMarin Pharmaceutical worth $9,654,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Emory University boosted its position in BioMarin Pharmaceutical by 3.2% in the first quarter. Emory University now owns 23,791 shares of the biotechnology company’s stock worth $2,088,000 after buying an additional 744 shares in the last quarter. Aperio Group LLC boosted its position in BioMarin Pharmaceutical by 9.7% in the second quarter. Aperio Group LLC now owns 56,491 shares of the biotechnology company’s stock worth $5,131,000 after buying an additional 5,006 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in BioMarin Pharmaceutical by 11.3% in the first quarter. UBS Asset Management Americas Inc. now owns 1,087,995 shares of the biotechnology company’s stock worth $95,504,000 after buying an additional 110,504 shares in the last quarter. William Blair Investment Management LLC boosted its position in BioMarin Pharmaceutical by 1.4% in the first quarter. William Blair Investment Management LLC now owns 1,123,928 shares of the biotechnology company’s stock worth $98,658,000 after buying an additional 15,687 shares in the last quarter. Finally, Toronto Dominion Bank boosted its position in BioMarin Pharmaceutical by 27.1% in the first quarter. Toronto Dominion Bank now owns 1,881 shares of the biotechnology company’s stock worth $165,000 after buying an additional 401 shares in the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Inc. (BMRN) opened at 80.98 on Friday. BioMarin Pharmaceutical Inc. has a 1-year low of $78.42 and a 1-year high of $102.06. The company’s 50 day moving average is $87.85 and its 200 day moving average is $89.92. The company’s market cap is $14.19 billion.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.01. The firm had revenue of $317.50 million for the quarter, compared to analysts’ expectations 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 revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned ($2.61) earnings per share. Equities research analysts forecast that BioMarin Pharmaceutical Inc. will post ($0.72) EPS for the current year.

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BMRN has been the subject of several research reports. Jefferies Group LLC reissued a “buy” rating and issued a $116.00 price objective on shares of BioMarin Pharmaceutical in a research report on Wednesday, April 26th. Zacks Investment Research raised shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $107.00 price objective for the company in a research report on Monday, May 1st. BMO Capital Markets lowered their price objective on shares of BioMarin Pharmaceutical from $112.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, April 24th. Credit Suisse Group reissued a “buy” rating and issued a $116.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, April 28th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $119.00 price objective (up from $118.00) on shares of BioMarin Pharmaceutical in a research report on Thursday, August 3rd. 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 stock. The company currently has a consensus rating of “Hold” and an average target price of $109.73.

In related news, CEO Jean Jacques Bienaime sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $88.38, for a total value of $441,900.00. Following the sale, the chief executive officer now owns 238,564 shares of the company’s stock, valued at $21,084,286.32. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director V Bryan Lawlis sold 3,750 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $90.00, for a total transaction of $337,500.00. Following the completion of the sale, the director now directly owns 19,660 shares in the company, valued at approximately $1,769,400. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,740 shares of company stock worth $5,200,939. 2.50% of the stock is owned by corporate insiders.

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).

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

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