New York State Common Retirement Fund Sells 5,724 Shares of BioMarin Pharmaceutical Inc. (BMRN)

New York State Common Retirement Fund cut its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 478,790 shares of the biotechnology company’s stock after selling 5,724 shares during the quarter. New York State Common Retirement Fund owned about 0.27% of BioMarin Pharmaceutical worth $43,484,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Parallel Advisors LLC increased its stake in shares of BioMarin Pharmaceutical by 13.6% in the 1st quarter. Parallel Advisors LLC now owns 1,042 shares of the biotechnology company’s stock worth $100,000 after acquiring an additional 125 shares during the last quarter. Korea Investment CORP increased its stake in shares of BioMarin Pharmaceutical by 143.5% in the 2nd quarter. Korea Investment CORP now owns 1,595 shares of the biotechnology company’s stock worth $145,000 after acquiring an additional 940 shares during the last quarter. Global X Management Co. LLC increased its stake in shares of BioMarin Pharmaceutical by 59.7% in the 1st quarter. Global X Management Co. LLC now owns 1,656 shares of the biotechnology company’s stock worth $145,000 after acquiring an additional 619 shares during the last quarter. Mutual of America Capital Management LLC increased its stake 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 acquiring an additional 344 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter worth $213,000. 97.46% of the stock is owned by institutional investors and hedge funds.

BMRN has been the subject of a number of recent research reports. Deutsche Bank AG reaffirmed a “buy” rating and issued a $119.00 target price (up from $118.00) on shares of BioMarin Pharmaceutical in a research note on Thursday, August 3rd. Zacks Investment Research raised BioMarin Pharmaceutical from a “hold” rating to a “strong-buy” rating and set a $105.00 target price for the company in a research note on Monday, July 17th. Citigroup Inc. initiated coverage on BioMarin Pharmaceutical in a research note on Thursday, August 31st. They issued a “buy” rating and a $98.00 target price for the company. Cowen and Company reaffirmed a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, July 11th. Finally, BidaskClub downgraded BioMarin Pharmaceutical from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the stock. BioMarin Pharmaceutical currently has a consensus rating of “Hold” and a consensus target price of $109.09.

BioMarin Pharmaceutical Inc. (BMRN) opened at 94.95 on Friday. The stock has a 50 day moving average price of $86.72 and a 200 day moving average price of $89.48. The stock’s market cap is $16.64 billion. BioMarin Pharmaceutical Inc. has a 52 week low of $78.42 and a 52 week high of $100.51.

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

In other news, insider Henry J. Fuchs sold 15,000 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $90.50, for a total value of $1,357,500.00. Following the completion of the sale, the insider now owns 141,422 shares of the company’s stock, valued at $12,798,691. The sale was disclosed in a document filed 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 value of $342,225.00. Following the completion of the sale, the director now directly owns 19,660 shares of the company’s stock, valued at approximately $1,794,171.60. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.

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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).

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

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