HPM Partners LLC Reduces Position in BioMarin Pharmaceutical Inc. (BMRN)

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HPM Partners LLC lowered its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 44.7% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,516 shares of the biotechnology company’s stock after selling 2,035 shares during the period. HPM Partners LLC’s holdings in BioMarin Pharmaceutical were worth $237,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Allen Investment Management LLC acquired a new position in shares of BioMarin Pharmaceutical during the 2nd quarter worth $203,000. Financial Gravity Wealth Inc. acquired a new position in BioMarin Pharmaceutical in the 1st quarter worth about $195,000. Reilly Financial Advisors LLC acquired a new position in BioMarin Pharmaceutical in the 2nd quarter worth about $254,000. Wedbush Securities Inc. acquired a new position in BioMarin Pharmaceutical in the 2nd quarter worth about $262,000. Finally, Atria Investments LLC acquired a new position in BioMarin Pharmaceutical in the 2nd quarter worth about $277,000.

In related news, SVP Brian Mueller sold 2,500 shares of the company’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $104.50, for a total transaction of $261,250.00. Following the sale, the senior vice president now owns 14,093 shares in the company, valued at approximately $1,472,718.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jean Jacques Bienaime sold 1,500 shares of the company’s stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $101.69, for a total value of $152,535.00. Following the sale, the chief executive officer now owns 286,790 shares in the company, valued at approximately $29,163,675.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,023 shares of company stock worth $7,497,878. 1.90% of the stock is owned by corporate insiders.

Shares of NASDAQ BMRN traded up $2.21 during trading on Friday, reaching $99.51. The company had a trading volume of 871,129 shares, compared to its average volume of 1,298,519. BioMarin Pharmaceutical Inc. has a 12 month low of $75.81 and a 12 month high of $106.20. The company has a current ratio of 2.83, a quick ratio of 2.24 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $17.22 billion, a PE ratio of -148.52 and a beta of 1.61.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Thursday, August 2nd. The biotechnology company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.03). BioMarin Pharmaceutical had a negative net margin of 8.68% and a negative return on equity of 3.00%. The business had revenue of $372.80 million for the quarter, compared to the consensus estimate of $359.25 million. During the same quarter in the previous year, the company earned ($0.21) EPS. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. As a group, analysts forecast that BioMarin Pharmaceutical Inc. will post -0.24 earnings per share for the current fiscal year.

A number of equities analysts have issued reports on BMRN shares. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $135.00 target price on shares of BioMarin Pharmaceutical in a report on Sunday, August 5th. Zacks Investment Research raised BioMarin Pharmaceutical from a “sell” rating to a “hold” rating in a report on Friday, September 7th. Barclays reiterated a “hold” rating and issued a $98.00 price target (up previously from $95.00) on shares of BioMarin Pharmaceutical in a research report on Sunday, August 5th. ValuEngine lowered BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Saturday, September 1st. Finally, Wedbush set a $120.00 price target on BioMarin Pharmaceutical and gave the company a “buy” rating in a research report on Thursday, September 13th. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $116.12.

BioMarin Pharmaceutical Company 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 that is used for the treatment of patients with mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Firdapse for Lambert Eaton Myasthenic Syndrome.

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

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