Sumitomo Mitsui Trust Holdings Inc. reduced its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 0.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 672,523 shares of the biotechnology company’s stock after selling 2,532 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in BioMarin Pharmaceutical were worth $45,328,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. BB&T Securities LLC increased its position in BioMarin Pharmaceutical by 4.0% during the second quarter. BB&T Securities LLC now owns 3,447 shares of the biotechnology company’s stock worth $295,000 after purchasing an additional 132 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in BioMarin Pharmaceutical by 73.6% during the third quarter. Meeder Asset Management Inc. now owns 408 shares of the biotechnology company’s stock worth $27,000 after buying an additional 173 shares during the period. Avestar Capital LLC boosted its stake in BioMarin Pharmaceutical by 36.9% during the second quarter. Avestar Capital LLC now owns 750 shares of the biotechnology company’s stock worth $44,000 after buying an additional 202 shares during the period. First Mercantile Trust Co. boosted its stake in BioMarin Pharmaceutical by 2.6% during the second quarter. First Mercantile Trust Co. now owns 8,116 shares of the biotechnology company’s stock worth $695,000 after buying an additional 206 shares during the period. Finally, Doyle Wealth Management purchased a new position in BioMarin Pharmaceutical during the second quarter worth about $26,000. Hedge funds and other institutional investors own 97.93% of the company’s stock.

BMRN has been the subject of several research analyst reports. BidaskClub raised shares of BioMarin Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Friday. Piper Jaffray Companies set a $120.00 target price on shares of BioMarin Pharmaceutical and gave the stock a “buy” rating in a research note on Friday, September 13th. Nomura lowered their target price on shares of BioMarin Pharmaceutical from $93.00 to $77.00 in a research note on Thursday, October 24th. Bank of America initiated coverage on shares of BioMarin Pharmaceutical in a research note on Wednesday, October 16th. They set a “buy” rating and a $90.00 target price for the company. Finally, Stifel Nicolaus set a $108.00 target price on shares of BioMarin Pharmaceutical and gave the stock a “buy” rating in a research note on Friday, September 13th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. BioMarin Pharmaceutical has an average rating of “Buy” and an average target price of $107.00.

In related news, CEO Jean Jacques Bienaime sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $69.55, for a total value of $347,750.00. Following the sale, the chief executive officer now owns 332,520 shares of the company’s stock, valued at $23,126,766. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director V Bryan Lawlis sold 3,750 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $74.47, for a total transaction of $279,262.50. Following the completion of the sale, the director now directly owns 27,340 shares in the company, valued at approximately $2,036,009.80. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

NASDAQ BMRN opened at $75.40 on Friday. The firm has a 50 day simple moving average of $69.98 and a 200-day simple moving average of $78.22. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.53 and a current ratio of 3.77. BioMarin Pharmaceutical Inc. has a one year low of $62.88 and a one year high of $101.72. The firm has a market cap of $13.41 billion, a price-to-earnings ratio of -228.48, a PEG ratio of 141.38 and a beta of 1.30.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Wednesday, October 23rd. The biotechnology company reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.25. BioMarin Pharmaceutical had a negative net margin of 2.65% and a negative return on equity of 1.35%. The business had revenue of $461.10 million during the quarter, compared to analyst estimates of $455.78 million. During the same quarter last year, the firm posted ($0.07) earnings per share. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. Equities analysts predict that BioMarin Pharmaceutical Inc. will post 0.01 EPS for the current fiscal year.

BioMarin Pharmaceutical Profile

BioMarin Pharmaceutical Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.

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

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