Principal Financial Group Inc. cut its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 4.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,719 shares of the biotechnology company’s stock after selling 1,580 shares during the period. Principal Financial Group Inc.’s holdings in BioMarin Pharmaceutical were worth $2,971,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BMRN. Comerica Bank boosted its position in shares of BioMarin Pharmaceutical by 2.6% in the 1st quarter. Comerica Bank now owns 7,282 shares of the biotechnology company’s stock worth $701,000 after buying an additional 183 shares in the last quarter. Mutual of America Capital Management LLC boosted its position in shares of BioMarin Pharmaceutical by 20.0% in the 1st quarter. Mutual of America Capital Management LLC now owns 2,066 shares of the biotechnology company’s stock worth $181,000 after buying an additional 344 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of BioMarin Pharmaceutical by 5.8% in the 1st quarter. Prudential Financial Inc. now owns 141,144 shares of the biotechnology company’s stock worth $12,389,000 after buying an additional 7,699 shares in the last quarter. Neuberger Berman Group LLC boosted its position in shares of BioMarin Pharmaceutical by 1.4% in the 1st quarter. Neuberger Berman Group LLC now owns 161,196 shares of the biotechnology company’s stock worth $14,150,000 after buying an additional 2,298 shares in the last quarter. Finally, United Services Automobile Association boosted its position in shares of BioMarin Pharmaceutical by 3.9% in the 1st quarter. United Services Automobile Association now owns 33,611 shares of the biotechnology company’s stock worth $2,950,000 after buying an additional 1,253 shares in the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

In related news, Director V Bryan Lawlis sold 3,750 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $91.26, for a total value of $342,225.00. Following the completion of the sale, the director now directly owns 19,660 shares in the company, valued at approximately $1,794,171.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert Baffi sold 18,415 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $92.43, for a total value of $1,702,098.45. Following the completion of the sale, the executive vice president now owns 129,083 shares of the company’s stock, valued at $11,931,141.69. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,686 shares of company stock valued at $3,736,318. Corporate insiders own 1.85% of the company’s stock.

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) opened at 94.81 on Friday. The firm’s market cap is $16.62 billion. The firm has a 50-day moving average of $89.79 and a 200 day moving average of $89.72. BioMarin Pharmaceutical Inc. has a 12 month low of $78.42 and a 12 month high of $100.51.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.01. BioMarin Pharmaceutical had a negative return on equity of 5.77% and a negative net margin of 15.54%. The firm had revenue of $317.50 million during the quarter, compared to analyst estimates of $311.41 million. During the same period in the previous year, the company earned ($2.61) EPS. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, equities research analysts anticipate that BioMarin Pharmaceutical Inc. will post ($0.71) EPS for the current fiscal year.

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Several research firms recently commented on BMRN. Morgan Stanley reiterated an “overweight” rating and issued a $117.00 price objective (up from $115.00) on shares of BioMarin Pharmaceutical in a research report on Friday. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $129.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday. Deutsche Bank AG restated a “buy” rating and issued a $119.00 target price (up from $118.00) on shares of BioMarin Pharmaceutical in a report on Wednesday, August 9th. Jefferies Group LLC restated a “buy” rating and issued a $116.00 target price on shares of BioMarin Pharmaceutical in a report on Tuesday, September 26th. Finally, Wedbush restated a “neutral” rating and issued a $108.00 target price on shares of BioMarin Pharmaceutical in a report on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $110.21.

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).

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

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