JGP Global Gestao de Recursos Ltda. Sells 8,650 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

JGP Global Gestao de Recursos Ltda. decreased its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 64.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 4,669 shares of the biotechnology company’s stock after selling 8,650 shares during the period. JGP Global Gestao de Recursos Ltda.’s holdings in BioMarin Pharmaceutical were worth $400,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bessemer Group Inc. raised its stake in BioMarin Pharmaceutical by 266,566.7% in the 2nd quarter. Bessemer Group Inc. now owns 336,000 shares of the biotechnology company’s stock worth $28,778,000 after acquiring an additional 335,874 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in BioMarin Pharmaceutical by 3.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 11,527 shares of the biotechnology company’s stock worth $987,000 after acquiring an additional 383 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in BioMarin Pharmaceutical by 43.2% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,320 shares of the biotechnology company’s stock worth $199,000 after acquiring an additional 700 shares during the last quarter. CWM Advisors LLC raised its stake in BioMarin Pharmaceutical by 12.6% in the 2nd quarter. CWM Advisors LLC now owns 5,684 shares of the biotechnology company’s stock worth $487,000 after acquiring an additional 635 shares during the last quarter. Finally, Gradient Investments LLC raised its stake in BioMarin Pharmaceutical by 935.5% in the 2nd quarter. Gradient Investments LLC now owns 29,108 shares of the biotechnology company’s stock worth $2,493,000 after acquiring an additional 26,297 shares during the last quarter. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director V Bryan Lawlis sold 3,750 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $81.08, for a total transaction of $304,050.00. Following the sale, the director now directly owns 27,340 shares in the company, valued at approximately $2,216,727.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jean Jacques Bienaime sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $82.52, for a total value of $825,200.00. Following the sale, the chief executive officer now owns 336,520 shares in the company, valued at $27,769,630.40. The disclosure for this sale can be found here. Insiders have sold a total of 17,750 shares of company stock worth $1,457,890 over the last ninety days. 1.97% of the stock is owned by insiders.

BMRN traded up $0.13 during midday trading on Wednesday, hitting $81.13. 17,283 shares of the company were exchanged, compared to its average volume of 922,257. The business has a 50 day moving average of $83.04. The stock has a market cap of $14.43 billion, a price-to-earnings ratio of -244.74 and a beta of 1.36. The company has a quick ratio of 2.76, a current ratio of 3.83 and a debt-to-equity ratio of 0.28. BioMarin Pharmaceutical Inc. has a 1-year low of $78.81 and a 1-year high of $106.74.

BMRN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. restated a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Sunday, June 2nd. Raymond James restated a “hold” rating on shares of Snc-Lavalin Group in a research note on Tuesday, April 9th. Cantor Fitzgerald set a $135.00 target price on Zimmer Biomet and gave the stock a “buy” rating in a research note on Friday, April 26th. BidaskClub downgraded Zai Lab from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 26th. Finally, TheStreet raised Rent-A-Center from a “c” rating to a “b-” rating in a research report on Tuesday, May 7th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company’s stock. BioMarin Pharmaceutical currently has an average rating of “Buy” and an average target price of $115.54.

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 to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.

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

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