Market Runner: Institutional Investors Are Buying Biomarin Pharmaceutical Inc (NASDAQ:BMRN)

November 29, 2016 - By Louis Casey   ·   0 Comments

Market Runner: Institutional Investors Are Buying Biomarin Pharmaceutical Inc (NASDAQ:BMRN)

Sentiment for Biomarin Pharmaceutical Inc (NASDAQ:BMRN)

Biomarin Pharmaceutical Inc (NASDAQ:BMRN) institutional sentiment increased to 1.66 in Q2 2016. Its up 0.38, from 1.28 in 2016Q1. The ratio increased, as 177 investment managers opened new or increased holdings, while 138 decreased and sold their holdings in Biomarin Pharmaceutical Inc. The investment managers in our partner’s database now possess: 153.99 million shares, down from 162.30 million shares in 2016Q1. Also, the number of investment managers holding Biomarin Pharmaceutical Inc in their top 10 holdings increased from 10 to 11 for an increase of 1. Sold All: 34 Reduced: 104 Increased: 140 New Position: 37.

BioMarin Pharmaceutical Inc. develops and commercializes pharmaceuticals for various diseases and medical conditions. The company has a market cap of $14.88 billion. The Company’s product portfolio consists of approximately five approved products, and multiple clinical and pre-clinical product candidates. It currently has negative earnings. The Company’s approved products include Vimizim (elosulfase alpha), Naglazyme (galsulfase), Kuvan (sapropterin dihydrochloride), Aldurazyme (laronidase) and Firdapse (amifampridine phosphate).

About 558,928 shares traded hands. BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has declined 0.39% since April 26, 2016 and is downtrending. It has underperformed by 5.65% the S&P500.

Analysts await BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) to report earnings on February, 23. They expect $-0.40 EPS, up 31.03% or $0.18 from last year’s $-0.58 per share. After $-0.13 actual EPS reported by BioMarin Pharmaceutical Inc. for the previous quarter, Wall Street now forecasts 207.69% negative EPS growth.

According to Zacks Investment Research, “BioMarin Pharmaceutical Inc. is a developer of carbohydrate enzyme therapies for debilitating, life-threatening, chronic genetic disorders and other diseases and conditions. The company completed a six-month evaluation of patients being treated with BioMarin’s lead product, BM101, for the treatment of mucopolysaccharidosis-I, or MPS-I. Patients were treated with BM101 as part of a pivotal clinical trial completed to determine the safety and efficacy of the drug in humans.”

Palo Alto Investors Llc holds 10.21% of its portfolio in BioMarin Pharmaceutical Inc. for 1.74 million shares. Amici Capital Llc owns 608,784 shares or 8.91% of their US portfolio. Moreover, Blue Jay Capital Management Llc has 7.78% invested in the company for 152,253 shares. The California-based Venbio Select Advisor Llc has invested 7.49% in the stock. Sectoral Asset Management Inc, a Quebec – Canada-based fund reported 494,836 shares.#img1#

Insider Transactions: Since January 1, 0001, the stock had 0 insider buys, and 22 insider sales for $84.09 million net activity.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Ratings Coverage

Ratings analysis reveals 75% of BioMarin Pharmaceutical’s analysts are positive. Out of 16 Wall Street analysts rating BioMarin Pharmaceutical, 12 give it “Buy”, 0 “Sell” rating, while 4 recommend “Hold”. The lowest target is $99 while the high is $175. The stock’s average target of $129.27 is 48.31% above today’s ($87.16) share price. BMRN was included in 36 notes of analysts from August 5, 2015. The company was initiated on Thursday, November 3 by Deutsche Bank. The firm earned “Buy” rating on Tuesday, August 4 by SunTrust. Barclays Capital maintained it with “Overweight” rating and $125 target price in Friday, August 5 report. RBC Capital Markets maintained it with “Buy” rating and $145 target price in Monday, August 24 report. Barclays Capital maintained the stock with “Overweight” rating in Friday, February 26 report. The stock of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has “Perform” rating given on Tuesday, February 23 by Oppenheimer. The stock of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has “Buy” rating given on Wednesday, August 5 by William Blair. Wedbush maintained the shares of BMRN in a report on Monday, October 5 with “Neutral” rating. The rating was initiated by Credit Suisse with “Outperform” on Wednesday, January 20. The firm has “Neutral” rating given on Monday, November 7 by PiperJaffray.

BMRN Company Profile

BioMarin Pharmaceutical Inc. (BioMarin), incorporated on October 25, 1996, develops and commercializes pharmaceuticals for various diseases and medical conditions. The Company’s product portfolio consists of approximately five approved products, and multiple clinical and pre-clinical product candidates. The Company’s approved products include Vimizim (elosulfase alpha), Naglazyme (galsulfase), Kuvan (sapropterin dihydrochloride), Aldurazyme (laronidase) and Firdapse (amifampridine phosphate). Vimizim received marketing approval in the United States, the European Union and in other countries. Naglazyme received marketing approval in the United States, the European Union and in other countries. Kuvan was granted marketing approval in the United States and the European Union. Aldurazyme was approved for marketing in the United States, the European Union and in other countries. Firdapse received marketing approval in the European Union.

More news for BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) were recently published by: Nasdaq.com, which released: “Biomarin Pharmaceutical Inc (BMRN) CEO Jean Jacques Bienaime Sold $––.6 …” on November 11, 2016. Nasdaq.com‘s article titled: “Biomarin Pharmaceutical Inc (BMRN) CEO Jean Jacques Bienaime Sold $9.8 million …” and published on November 01, 2016 is yet another important article.

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By Louis Casey

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