Opus Point Partners Management buys $4 Million stake in BioMarin Pharmaceutical (BMRN)

BioMarin Pharmaceutical (BMRN) : Opus Point Partners Management scooped up 4,390 additional shares in BioMarin Pharmaceutical during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 48,260 shares of BioMarin Pharmaceutical which is valued at $4 Million.BioMarin Pharmaceutical makes up approximately 3.79% of Opus Point Partners Management’s portfolio.

Other Hedge Funds, Including , Elk Creek Partners reduced its stake in BMRN by selling 746 shares or 10.41% in the most recent quarter. The Hedge Fund company now holds 6,417 shares of BMRN which is valued at $530,750. BioMarin Pharmaceutical makes up approx 0.04% of Elk Creek Partners’s portfolio.Cibc World Markets Corp reduced its stake in BMRN by selling 3,681 shares or 27.53% in the most recent quarter. The Hedge Fund company now holds 9,690 shares of BMRN which is valued at $801,460. BioMarin Pharmaceutical makes up approx 0.03% of Cibc World Markets Corp’s portfolio.Palisade Capital Managementnj reduced its stake in BMRN by selling 85 shares or 3.38% in the most recent quarter. The Hedge Fund company now holds 2,429 shares of BMRN which is valued at $200,903. BioMarin Pharmaceutical makes up approx 0.01% of Palisade Capital Managementnj’s portfolio.Cornerstone Capital Management Holdings. reduced its stake in BMRN by selling 3,812 shares or 12.48% in the most recent quarter. The Hedge Fund company now holds 26,726 shares of BMRN which is valued at $2.2 Million. BioMarin Pharmaceutical makes up approx 0.02% of Cornerstone Capital Management Holdings.’s portfolio.

BioMarin Pharmaceutical opened for trading at $88.31 and hit $89.85 on the upside on Wednesday, eventually ending the session at $88.81, with a gain of 0.98% or 0.86 points. The heightened volatility saw the trading volume jump to 10,62,649 shares. Company has a market cap of $14,416 M.

On the company’s financial health, BioMarin Pharmaceutical reported $-0.53 EPS for the quarter, missing the analyst consensus estimate by $ -0.25 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $-0.28. The company had revenue of $236.70 million for the quarter, compared to analysts expectations of $239.85 million. The company’s revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.43 EPS.

Many Wall Street Analysts have commented on BioMarin Pharmaceutical. Robert W. Baird Upgraded BioMarin Pharmaceutical on Mar 8, 2016 to ” Outperform”, Price Target of the shares are set at $110.Company shares were Reiterated by Stifel on Mar 3, 2016 to “Buy”, Firm has raised the Price Target to $ 107 from a previous price target of $105 .Shares were Reiterated by Wedbush on Feb 29, 2016 to “Neutral” and Lowered the Price Target to $ 105 from a previous price target of $117 .

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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