Amici Capital Lowers stake in BioMarin Pharmaceutical (BMRN)

BioMarin Pharmaceutical (BMRN) : Amici Capital reduced its stake in BioMarin Pharmaceutical by 31.32% during the most recent quarter end. The investment management company now holds a total of 608,784 shares of BioMarin Pharmaceutical which is valued at $56,275,993 after selling 277,635 shares in BioMarin Pharmaceutical , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.BioMarin Pharmaceutical makes up approximately 11.45% of Amici Capital’s portfolio.

Other Hedge Funds, Including , Clough Capital Partners L P added BMRN to its portfolio by purchasing 3,800 company shares during the most recent quarter which is valued at $351,272. BioMarin Pharmaceutical makes up approx 0.02% of Clough Capital Partners L P’s portfolio.Pictet Asset Management Ltd boosted its stake in BMRN in the latest quarter, The investment management firm added 703,112 additional shares and now holds a total of 968,295 shares of BioMarin Pharmaceutical which is valued at $89,509,190. BioMarin Pharmaceutical makes up approx 0.34% of Pictet Asset Management Ltd’s portfolio. First Personal Financial Services added BMRN to its portfolio by purchasing 461 company shares during the most recent quarter which is valued at $45,648. BioMarin Pharmaceutical makes up approx 0.02% of First Personal Financial Services’s portfolio.Dimensional Fund Advisors Lp boosted its stake in BMRN in the latest quarter, The investment management firm added 3,332 additional shares and now holds a total of 161,199 shares of BioMarin Pharmaceutical which is valued at $15,961,925. BioMarin Pharmaceutical makes up approx 0.01% of Dimensional Fund Advisors Lp’s portfolio.

BioMarin Pharmaceutical opened for trading at $93.7 and hit $95.49 on the upside on Thursday, eventually ending the session at $95.19, with a gain of 1.38% or 1.3 points. The heightened volatility saw the trading volume jump to 10,12,496 shares. Company has a market cap of $15,560 M.

On the company’s financial health, BioMarin Pharmaceutical reported $-2.61 EPS for the quarter, missing the analyst consensus estimate by $ -2.52 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.09. The company had revenue of $300.10 million for the quarter, compared to analysts expectations of $279.05 million. The company’s revenue was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.51 EPS.

Many Wall Street Analysts have commented on BioMarin Pharmaceutical. Company shares were Reiterated by Stifel on Aug 5, 2016 to “Buy”, Firm has raised the Price Target to $ 113 from a previous price target of $107 .Company shares were Reiterated by Piper Jaffray on Aug 5, 2016 to “Overweight”, Firm has raised the Price Target to $ 120 from a previous price target of $107 .

BioMarin Pharmaceutical Inc. develops and commercializes pharmaceuticals for serious diseases and medical conditions. The Company’s product portfolio is comprised of five approved products and multiple clinical and pre-clinical product candidates. Its approved products are 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 subsequently in several other countries. Naglazyme received marketing approval in the United States the European Union and subsequently in other countries. Kuvan was granted marketing approval in the United States the European Union. Aldurazyme which was developed in collaboration with Genzyme Corporation (Genzyme) was approved for marketing in the United States the European Union and subsequently in other countries. Firdapse was approved by the European Medicines Agency (EMA).

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