BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Position Held by Regent Investment Management LLC

Regent Investment Management LLC held its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,375 shares of the biotechnology company’s stock at the end of the second quarter. Regent Investment Management LLC’s holdings in BioMarin Pharmaceutical were worth $307,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Parallel Advisors LLC increased its stake in shares of BioMarin Pharmaceutical by 13.6% in the first quarter. Parallel Advisors LLC now owns 1,042 shares of the biotechnology company’s stock valued at $100,000 after buying an additional 125 shares in the last quarter. Nikko Asset Management Americas Inc. purchased a new stake in shares of BioMarin Pharmaceutical during the first quarter valued at $114,000. Global X Management Co. LLC increased its stake in shares of BioMarin Pharmaceutical by 59.7% in the first quarter. Global X Management Co. LLC now owns 1,656 shares of the biotechnology company’s stock valued at $145,000 after buying an additional 619 shares in the last quarter. Toronto Dominion Bank increased its stake in shares of BioMarin Pharmaceutical by 27.1% in the first quarter. Toronto Dominion Bank now owns 1,881 shares of the biotechnology company’s stock valued at $165,000 after buying an additional 401 shares in the last quarter. Finally, Mutual of America Capital Management LLC increased its stake in shares of BioMarin Pharmaceutical by 20.0% in the first quarter. Mutual of America Capital Management LLC now owns 2,066 shares of the biotechnology company’s stock valued at $181,000 after buying an additional 344 shares in the last quarter. Hedge funds and other institutional investors own 96.50% of the company’s stock.

Shares of BioMarin Pharmaceutical Inc. (BMRN) opened at 87.23 on Thursday. The firm’s market capitalization is $15.22 billion. BioMarin Pharmaceutical Inc. has a 12-month low of $78.42 and a 12-month high of $102.49. The company’s 50 day moving average is $90.78 and its 200 day moving average is $89.95.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Thursday, May 4th. The biotechnology company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.33. BioMarin Pharmaceutical had a negative return on equity of 22.71% and a negative net margin of 48.43%. The business had revenue of $303.70 million during the quarter, compared to analysts’ expectations of $292.58 million. During the same period in the prior year, the business earned ($0.53) EPS. BioMarin Pharmaceutical’s revenue for the quarter was up 28.3% compared to the same quarter last year. On average, analysts forecast that BioMarin Pharmaceutical Inc. will post ($0.85) earnings per share for the current year.

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Several research firms have commented on BMRN. UBS AG began coverage on shares of BioMarin Pharmaceutical in a research note on Wednesday, March 29th. They set a “neutral” rating and a $92.00 target price on the stock. BMO Capital Markets reissued an “outperform” rating and set a $115.00 target price (up previously from $111.00) on shares of BioMarin Pharmaceutical in a research note on Thursday, July 13th. SunTrust Banks, Inc. reissued a “buy” rating and set a $115.00 target price on shares of BioMarin Pharmaceutical in a research note on Friday, July 14th. Zacks Investment Research cut shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Finally, Cowen and Company reissued a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, July 11th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $111.29.

In other BioMarin Pharmaceutical news, SVP Brian Mueller sold 2,671 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $100.00, for a total transaction of $267,100.00. Following the completion of the transaction, the senior vice president now owns 15,556 shares of the company’s stock, valued at approximately $1,555,600. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP George Eric Davis sold 9,844 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $96.60, for a total value of $950,930.40. Following the transaction, the executive vice president now directly owns 93,425 shares of the company’s stock, valued at approximately $9,024,855. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,024 shares of company stock valued at $8,536,526. 2.50% of the stock is owned by company insiders.

BioMarin Pharmaceutical Company Profile

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).

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

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