Janney Montgomery Scott LLC reduced its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 6.3% during the second quarter, Holdings Channel reports. The firm owned 11,565 shares of the biotechnology company’s stock after selling 771 shares during the period. Janney Montgomery Scott LLC’s holdings in BioMarin Pharmaceutical were worth $1,050,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. NGAM Advisors L.P. boosted its stake in shares of BioMarin Pharmaceutical by 0.4% in the second quarter. NGAM Advisors L.P. now owns 15,245 shares of the biotechnology company’s stock valued at $1,385,000 after buying an additional 55 shares during the period. Grandfield & Dodd LLC boosted its stake in shares of BioMarin Pharmaceutical by 1.1% in the first quarter. Grandfield & Dodd LLC now owns 5,727 shares of the biotechnology company’s stock valued at $503,000 after buying an additional 65 shares during the period. First American Trust FSB boosted its stake in shares of BioMarin Pharmaceutical by 0.3% in the second quarter. First American Trust FSB now owns 26,696 shares of the biotechnology company’s stock valued at $2,424,000 after buying an additional 73 shares during the period. Creative Planning boosted its stake in shares of BioMarin Pharmaceutical by 0.7% in the first quarter. Creative Planning now owns 13,440 shares of the biotechnology company’s stock valued at $1,180,000 after buying an additional 100 shares during the period. Finally, Eqis Capital Management Inc. boosted its stake in shares of BioMarin Pharmaceutical by 0.6% in the second quarter. Eqis Capital Management Inc. now owns 18,531 shares of the biotechnology company’s stock valued at $1,683,000 after buying an additional 106 shares during the period. 96.82% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) opened at 82.40 on Friday. BioMarin Pharmaceutical Inc. has a 1-year low of $78.42 and a 1-year high of $102.06. The company’s market cap is $14.44 billion. The stock’s 50 day moving average price is $89.00 and its 200-day moving average price is $89.99.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.01. The business had revenue of $317.50 million during the quarter, compared to the consensus estimate of $311.41 million. BioMarin Pharmaceutical had a negative net margin of 15.54% and a negative return on equity of 5.77%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($2.61) EPS. On average, analysts forecast that BioMarin Pharmaceutical Inc. will post ($0.71) earnings per share for the current year.

WARNING: This article was first published by Daily Political and is the property of of Daily Political. If you are accessing this article on another website, it was illegally copied and reposted in violation of U.S. and international trademark & copyright legislation. The correct version of this article can be viewed at https://www.dailypolitical.com/2017/08/13/janney-montgomery-scott-llc-lowers-stake-in-biomarin-pharmaceutical-inc-nasdaqbmrn.html.

Several brokerages have recently issued reports on BMRN. BidaskClub cut BioMarin Pharmaceutical from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $116.00 target price on shares of BioMarin Pharmaceutical in a report on Monday, May 15th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $107.00 target price on shares of BioMarin Pharmaceutical in a report on Friday, August 4th. Wedbush reaffirmed a “neutral” rating and issued a $108.00 target price on shares of BioMarin Pharmaceutical in a report on Monday, August 7th. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $150.00 target price on shares of BioMarin Pharmaceutical in a report on Monday, May 15th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the stock. BioMarin Pharmaceutical has an average rating of “Hold” and an average target price of $110.20.

In other news, 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 owns 19,660 shares in the company, valued at approximately $1,769,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Brian Mueller sold 2,671 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $100.00, for a total transaction of $267,100.00. Following the sale, the senior vice president now owns 15,556 shares of the company’s stock, valued at approximately $1,555,600. The disclosure for this sale can be found here. Insiders have sold a total of 61,740 shares of company stock valued at $5,659,589 in the last 90 days. Insiders own 2.50% of the company’s stock.

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).

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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioMarin Pharmaceutical Inc. and related companies with MarketBeat.com's FREE daily email newsletter.