Canada Pension Plan Investment Board Sells 78,326 Shares of BioMarin Pharmaceutical Inc. (BMRN)

Canada Pension Plan Investment Board cut its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 56.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,749 shares of the biotechnology company’s stock after selling 78,326 shares during the period. Canada Pension Plan Investment Board’s holdings in BioMarin Pharmaceutical were worth $5,561,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in BioMarin Pharmaceutical by 4.7% in the second quarter. Vanguard Group Inc. now owns 14,345,027 shares of the biotechnology company’s stock worth $1,302,816,000 after purchasing an additional 642,623 shares in the last quarter. Jennison Associates LLC boosted its holdings in BioMarin Pharmaceutical by 33.8% in the second quarter. Jennison Associates LLC now owns 13,242,773 shares of the biotechnology company’s stock worth $1,202,709,000 after purchasing an additional 3,348,168 shares in the last quarter. TIAA CREF Investment Management LLC boosted its holdings in BioMarin Pharmaceutical by 63.7% in the second quarter. TIAA CREF Investment Management LLC now owns 2,251,011 shares of the biotechnology company’s stock worth $204,437,000 after purchasing an additional 875,686 shares in the last quarter. Manning & Napier Advisors LLC boosted its holdings in BioMarin Pharmaceutical by 25.2% in the second quarter. Manning & Napier Advisors LLC now owns 2,118,486 shares of the biotechnology company’s stock worth $192,399,000 after purchasing an additional 426,016 shares in the last quarter. Finally, Pictet Asset Management Ltd. boosted its holdings in BioMarin Pharmaceutical by 17.0% in the third quarter. Pictet Asset Management Ltd. now owns 1,134,622 shares of the biotechnology company’s stock worth $105,599,000 after purchasing an additional 164,788 shares in the last quarter. Hedge funds and other institutional investors own 96.89% of the company’s stock.

A number of equities research analysts recently issued reports on BMRN shares. Morgan Stanley reiterated an “overweight” rating and issued a $117.00 price objective (up from $115.00) on shares of BioMarin Pharmaceutical in a report on Friday, October 6th. Stifel Nicolaus decreased their price objective on shares of BioMarin Pharmaceutical from $107.00 to $105.00 and set a “buy” rating for the company in a report on Friday, October 27th. BMO Capital Markets reissued a “buy” rating and set a $117.00 target price on shares of BioMarin Pharmaceutical in a research report on Friday, October 20th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $129.00 target price on shares of BioMarin Pharmaceutical in a research report on Friday, October 6th. Finally, J P Morgan Chase & Co set a $130.00 target price on shares of BioMarin Pharmaceutical and gave the stock a “buy” rating in a research report on Sunday, October 29th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $111.55.

In other BioMarin Pharmaceutical news, EVP Jeffrey Robert Ajer sold 3,521 shares of the company’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $95.00, for a total transaction of $334,495.00. Following the sale, the executive vice president now directly owns 49,299 shares of the company’s stock, valued at $4,683,405. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director V Bryan Lawlis sold 3,750 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $91.26, for a total transaction of $342,225.00. Following the sale, the director now directly owns 19,660 shares in the company, valued at $1,794,171.60. The disclosure for this sale can be found here. Insiders have sold 40,686 shares of company stock worth $3,736,318 over the last ninety days. Insiders own 1.85% of the company’s stock.

Shares of BioMarin Pharmaceutical Inc. (NASDAQ BMRN) opened at $81.06 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.91 and a quick ratio of 3.81. BioMarin Pharmaceutical Inc. has a 52 week low of $79.50 and a 52 week high of $100.51.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Thursday, October 26th. The biotechnology company reported ($0.07) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.06. The firm had revenue of $334.18 million for the quarter, compared to analysts’ expectations of $347.38 million. BioMarin Pharmaceutical had a negative net margin of 12.45% and a negative return on equity of 4.60%. The company’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.02 earnings per share. analysts forecast that BioMarin Pharmaceutical Inc. will post -0.66 earnings per share for the current year.

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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).

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

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