Principal Financial Group Inc. cut its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 4.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 34,299 shares of the biotechnology company’s stock after selling 1,567 shares during the period. Principal Financial Group Inc.’s holdings in BioMarin Pharmaceutical were worth $3,010,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of BioMarin Pharmaceutical by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 180,646 shares of the biotechnology company’s stock valued at $14,966,000 after buying an additional 7,130 shares during the last quarter. Emory University boosted its stake in shares of BioMarin Pharmaceutical by 3.2% in the first quarter. Emory University now owns 23,791 shares of the biotechnology company’s stock valued at $2,088,000 after buying an additional 744 shares during the last quarter. Perigon Wealth Management LLC boosted its stake in shares of BioMarin Pharmaceutical by 10.9% in the fourth quarter. Perigon Wealth Management LLC now owns 5,165 shares of the biotechnology company’s stock valued at $485,000 after buying an additional 506 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of 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 valued at $95,504,000 after buying an additional 110,504 shares during the last quarter. Finally, Gulf International Bank UK Ltd boosted its stake in shares of BioMarin Pharmaceutical by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 52,575 shares of the biotechnology company’s stock valued at $4,615,000 after buying an additional 800 shares during the last quarter. 96.50% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Inc. (BMRN) opened at 87.74 on Friday. BioMarin Pharmaceutical Inc. has a one year low of $78.42 and a one year high of $102.49. The stock’s 50 day moving average price is $90.78 and its 200-day moving average price is $89.94. The company’s market capitalization is $15.31 billion.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Thursday, May 4th. The biotechnology company reported $0.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.33. BioMarin Pharmaceutical had a negative return on equity of 22.71% and a negative net margin of 48.43%. The firm had revenue of $303.70 million for the quarter, compared to the consensus estimate of $292.58 million. During the same period in the previous year, the business earned ($0.53) EPS. The firm’s revenue for the quarter was up 28.3% on a year-over-year basis. Equities analysts forecast that BioMarin Pharmaceutical Inc. will post ($0.85) EPS for the current year.

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BMRN has been the topic of several recent research reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $116.00 price target on shares of BioMarin Pharmaceutical in a research note on Wednesday, April 26th. Vetr cut BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating and set a $95.10 price target on the stock. in a research note on Monday, April 10th. Zacks Investment Research raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $107.00 price target on the stock in a research note on Monday, May 1st. Credit Suisse Group reaffirmed an “outperform” rating and issued a $112.00 price target on shares of BioMarin Pharmaceutical in a research note on Tuesday, April 18th. Finally, BMO Capital Markets reduced their price target on BioMarin Pharmaceutical from $112.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, April 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the stock. BioMarin Pharmaceutical has a consensus rating of “Buy” and an average price target of $111.29.

In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 5,000 shares of BioMarin Pharmaceutical stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $88.38, for a total transaction of $441,900.00. Following the completion of the sale, the chief executive officer now owns 238,564 shares of the company’s stock, valued at approximately $21,084,286.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director V Bryan Lawlis sold 3,750 shares of BioMarin Pharmaceutical stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $90.00, for a total value of $337,500.00. Following the sale, the director now directly owns 19,660 shares of the company’s stock, valued at approximately $1,769,400. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,024 shares of company stock worth $8,536,526. 2.50% of the stock is owned by company 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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