CIBC Asset Management Inc lowered its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Get Rating) by 71.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,789 shares of the biotechnology company's stock after selling 28,805 shares during the quarter. CIBC Asset Management Inc's holdings in BioMarin Pharmaceutical were worth $909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank purchased a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $207,582,000. Adage Capital Partners GP L.L.C. boosted its position in shares of BioMarin Pharmaceutical by 372.7% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,865,000 shares of the biotechnology company's stock valued at $164,773,000 after purchasing an additional 1,470,498 shares in the last quarter. Perceptive Advisors LLC bought a new stake in shares of BioMarin Pharmaceutical during the fourth quarter valued at approximately $104,253,000. Jennison Associates LLC purchased a new stake in BioMarin Pharmaceutical in the fourth quarter worth $48,817,000. Finally, Fort Washington Investment Advisors Inc. OH raised its holdings in BioMarin Pharmaceutical by 93.2% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 1,143,631 shares of the biotechnology company's stock worth $101,040,000 after purchasing an additional 551,729 shares in the last quarter. Hedge funds and other institutional investors own 95.45% of the company's stock.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, CFO Brian Mueller sold 7,337 shares of the business's stock in a transaction on Friday, July 8th. The shares were sold at an average price of $89.50, for a total transaction of $656,661.50. Following the completion of the sale, the chief financial officer now directly owns 30,726 shares in the company, valued at approximately $2,749,977. The sale was disclosed in a document filed with the SEC, which is available through this link. In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 7,398 shares of the business's stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $90.00, for a total transaction of $665,820.00. Following the completion of the sale, the executive vice president now directly owns 58,941 shares in the company, valued at approximately $5,304,690. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Brian Mueller sold 7,337 shares of the company's stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $89.50, for a total transaction of $656,661.50. Following the sale, the chief financial officer now directly owns 30,726 shares of the company's stock, valued at approximately $2,749,977. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,043 shares of company stock valued at $1,425,735. Company insiders own 1.75% of the company's stock.

Analyst Ratings Changes

BioMarin Pharmaceutical Price Performance

NASDAQ BMRN opened at $95.70 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.69 and a current ratio of 5.42. The company has a market capitalization of $17.75 billion, a price-to-earnings ratio of 368.09, a PEG ratio of 1.97 and a beta of 0.33. The stock has a 50-day moving average of $83.51 and a 200 day moving average of $82.34. BioMarin Pharmaceutical Inc. has a one year low of $70.73 and a one year high of $97.76.

BioMarin Pharmaceutical (NASDAQ:BMRN – Get Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The biotechnology company reported $0.15 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.04. BioMarin Pharmaceutical had a net margin of 2.83% and a return on equity of 1.78%. During the same period last year, the firm earned $0.23 earnings per share. On average, sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 0.98 EPS for the current year.

About BioMarin Pharmaceutical

(Get Rating)

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.

Recommended Stories

• Get a free copy of the StockNews.com research report on BioMarin Pharmaceutical (BMRN)
• Are 3M, Honeywell, GE Buys After Quarterly Reports?
• Is Sofi Financial Stock Finally Ready to Pay Off for Investors?
• This Defense Stock Has Bullish Fundamentals AND Technicals
• CVS and Walgreens Show Why Investment Objectives Matter
• Are Medtronic And Intuitive Surgical Poised For Big Growth?

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 – Get Rating).

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.