Renaissance Technologies LLC Boosts Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Renaissance Technologies LLC grew its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 66.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 537,371 shares of the biotechnology company’s stock after purchasing an additional 215,400 shares during the period. Renaissance Technologies LLC owned approximately 0.30% of BioMarin Pharmaceutical worth $46,026,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Jennison Associates LLC increased its stake in shares of BioMarin Pharmaceutical by 7.0% in the first quarter. Jennison Associates LLC now owns 12,412,593 shares of the biotechnology company’s stock worth $1,102,611,000 after acquiring an additional 812,133 shares during the period. Geode Capital Management LLC grew its position in BioMarin Pharmaceutical by 6.0% during the 4th quarter. Geode Capital Management LLC now owns 1,643,507 shares of the biotechnology company’s stock worth $139,844,000 after purchasing an additional 92,519 shares during the period. Pictet Asset Management Ltd. grew its position in BioMarin Pharmaceutical by 4.6% during the 1st quarter. Pictet Asset Management Ltd. now owns 1,362,755 shares of the biotechnology company’s stock worth $121,054,000 after purchasing an additional 59,728 shares during the period. First Trust Advisors LP raised its stake in shares of BioMarin Pharmaceutical by 16.0% during the 1st quarter. First Trust Advisors LP now owns 1,261,908 shares of the biotechnology company’s stock valued at $112,095,000 after buying an additional 174,499 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of BioMarin Pharmaceutical by 1.7% during the 1st quarter. Northern Trust Corp now owns 1,202,314 shares of the biotechnology company’s stock valued at $106,801,000 after buying an additional 20,108 shares during the last quarter. 98.08% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director V Bryan Lawlis sold 3,750 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $81.08, for a total transaction of $304,050.00. Following the completion of the transaction, the director now directly owns 27,340 shares of the company’s stock, valued at approximately $2,216,727.20. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.97% of the company’s stock.

BMRN has been the topic of a number of recent research reports. Citigroup restated a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Thursday, May 23rd. Wedbush reaffirmed an “outperform” rating and set a $128.00 target price on shares of BioMarin Pharmaceutical in a report on Wednesday, July 10th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $133.00 price target on shares of BioMarin Pharmaceutical in a research report on Monday, August 5th. Finally, BidaskClub downgraded BioMarin Pharmaceutical from a “sell” rating to a “strong sell” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $115.60.

Shares of BioMarin Pharmaceutical stock traded down $0.63 on Wednesday, hitting $72.96. The company’s stock had a trading volume of 42,299 shares, compared to its average volume of 1,058,370. The company has a market capitalization of $12.91 billion, a price-to-earnings ratio of -221.26 and a beta of 1.32. BioMarin Pharmaceutical Inc. has a 1 year low of $70.82 and a 1 year high of $106.74. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.79 and a current ratio of 4.11. The firm has a fifty day moving average price of $76.34 and a 200-day moving average price of $84.03.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.16). BioMarin Pharmaceutical had a negative return on equity of 3.12% and a negative net margin of 7.19%. The business had revenue of $388.00 million for the quarter, compared to analysts’ expectations of $415.03 million. During the same quarter in the prior year, the company posted ($0.09) EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, analysts forecast that BioMarin Pharmaceutical Inc. will post -0.03 EPS for the current year.

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 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.

Further Reading: Economic Bubble

Want to see what other hedge funds are holding BMRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BioMarin Pharmaceutical Inc. (NASDAQ:BMRN).

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.