HPM Partners LLC lessened its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 44.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund 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 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Frontier Capital Management Co. LLC lifted its stake in shares of BioMarin Pharmaceutical by 42.8% during the second quarter. Frontier Capital Management Co. LLC now owns 1,210,472 shares of the biotechnology company’s stock valued at $114,026,000 after acquiring an additional 362,531 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of BioMarin Pharmaceutical by 68.4% during the second quarter. Canada Pension Plan Investment Board now owns 427,999 shares of the biotechnology company’s stock valued at $40,318,000 after acquiring an additional 173,850 shares during the period. Waddell & Reed Financial Inc. lifted its stake in shares of BioMarin Pharmaceutical by 5.0% during the second quarter. Waddell & Reed Financial Inc. now owns 3,337,346 shares of the biotechnology company’s stock valued at $314,378,000 after acquiring an additional 160,247 shares during the period. Worldquant Millennium Quantitative Strategies LLC acquired a new position in shares of BioMarin Pharmaceutical during the second quarter valued at $13,166,000. Finally, Zevenbergen Capital Investments LLC lifted its stake in shares of BioMarin Pharmaceutical by 50.2% during the second quarter. Zevenbergen Capital Investments LLC now owns 397,975 shares of the biotechnology company’s stock valued at $37,489,000 after acquiring an additional 133,070 shares during the period.

Several brokerages have recently issued reports on BMRN. BidaskClub raised BioMarin Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research lowered BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Wednesday, June 20th. ValuEngine raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Wednesday, October 3rd. Finally, Stifel Nicolaus upped their price target on BioMarin Pharmaceutical from $102.00 to $109.00 and gave the company a “buy” rating in a research note on Friday, August 3rd. Five research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $116.12.

NASDAQ:BMRN traded up $2.21 during mid-day trading on Friday, hitting $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 fifty-two week low of $75.81 and a fifty-two week 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 price-to-earnings ratio of -148.52 and a beta of 1.61.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Thursday, August 2nd. The biotechnology company reported ($0.09) earnings per share 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 company had revenue of $372.80 million during the quarter, compared to analyst estimates of $359.25 million. During the same period in the previous year, the company posted ($0.21) EPS. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. Sell-side analysts predict that BioMarin Pharmaceutical Inc. will post -0.24 earnings per share for the current year.

In other news, EVP Jeffrey Robert Ajer sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, October 3rd. The stock was sold at an average price of $98.98, for a total transaction of $98,980.00. Following the sale, the executive vice president now owns 49,135 shares of the company’s stock, valued at $4,863,382.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director V Bryan Lawlis sold 2,150 shares of the firm’s stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $97.93, for a total value of $210,549.50. Following the sale, the director now directly owns 21,310 shares in the company, valued at approximately $2,086,888.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,023 shares of company stock worth $7,497,878. 1.90% of the stock is currently owned by insiders.

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 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.

Featured Article: Does the discount rate affect the economy?

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

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