1832 Asset Management L.P. Has $1.72 Million Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

1832 Asset Management L.P. trimmed its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 97.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,721 shares of the biotechnology company’s stock after selling 717,500 shares during the period. 1832 Asset Management L.P.’s holdings in BioMarin Pharmaceutical were worth $1,722,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lindbrook Capital LLC raised its position in shares of BioMarin Pharmaceutical by 259.8% during the fourth quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock worth $37,000 after acquiring an additional 278 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of BioMarin Pharmaceutical by 135.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 249 shares during the period. Jones Financial Companies Lllp bought a new stake in BioMarin Pharmaceutical in the 4th quarter valued at about $43,000. First Horizon Advisors Inc. raised its stake in BioMarin Pharmaceutical by 33.3% during the 4th quarter. First Horizon Advisors Inc. now owns 576 shares of the biotechnology company’s stock worth $56,000 after buying an additional 144 shares during the period. Finally, Allworth Financial LP boosted its holdings in BioMarin Pharmaceutical by 54.9% in the fourth quarter. Allworth Financial LP now owns 604 shares of the biotechnology company’s stock worth $58,000 after acquiring an additional 214 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock traded down $1.00 during trading on Friday, hitting $84.59. The stock had a trading volume of 1,063,391 shares, compared to its average volume of 1,262,695. The company has a quick ratio of 1.70, a current ratio of 2.74 and a debt-to-equity ratio of 0.12. The stock’s 50 day moving average is $81.75 and its two-hundred day moving average is $85.47. BioMarin Pharmaceutical Inc. has a 1 year low of $73.68 and a 1 year high of $99.56. The stock has a market cap of $16.06 billion, a price-to-earnings ratio of 79.06, a price-to-earnings-growth ratio of 1.20 and a beta of 0.32.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.12. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. The company had revenue of $648.83 million during the quarter, compared to analyst estimates of $649.75 million. As a group, analysts predict that BioMarin Pharmaceutical Inc. will post 2 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BMRN. StockNews.com cut BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a report on Monday, July 22nd. Wells Fargo & Company raised their price objective on shares of BioMarin Pharmaceutical from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Cantor Fitzgerald restated an “overweight” rating and issued a $110.00 target price on shares of BioMarin Pharmaceutical in a report on Monday, July 22nd. Canaccord Genuity Group reiterated a “hold” rating and set a $89.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday. Finally, Robert W. Baird downgraded BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $104.00 to $72.00 in a research note on Friday, May 17th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $102.00.

Insiders Place Their Bets

In related news, EVP George Eric Davis sold 40,850 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $74.51, for a total value of $3,043,733.50. Following the completion of the transaction, the executive vice president now directly owns 56,157 shares of the company’s stock, valued at approximately $4,184,258.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Jean Jacques Bienaime sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $81.62, for a total value of $1,632,400.00. Following the transaction, the director now directly owns 474,994 shares in the company, valued at $38,769,010.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP George Eric Davis sold 40,850 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $74.51, for a total transaction of $3,043,733.50. Following the sale, the executive vice president now owns 56,157 shares of the company’s stock, valued at $4,184,258.07. The disclosure for this sale can be found here. Insiders sold 67,700 shares of company stock worth $5,209,352 over the last quarter. 1.85% of the stock is currently owned by company insiders.

BioMarin Pharmaceutical Profile

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.