Eqis Capital Management Lowers stake in BioMarin Pharmaceutical (BMRN)

BioMarin Pharmaceutical (BMRN) : Eqis Capital Management reduced its stake in BioMarin Pharmaceutical by 2.93% during the most recent quarter end. The investment management company now holds a total of 26,123 shares of BioMarin Pharmaceutical which is valued at $2,505,718 after selling 789 shares in BioMarin Pharmaceutical , the firm said in a disclosure report filed with the SEC on Oct 4, 2016.BioMarin Pharmaceutical makes up approximately 0.16% of Eqis Capital Management’s portfolio.

Other Hedge Funds, Including , Washington Trust Bank added BMRN to its portfolio by purchasing 26 company shares during the most recent quarter which is valued at $2,494.

BioMarin Pharmaceutical opened for trading at $94.59 and hit $95.265 on the upside on Tuesday, eventually ending the session at $95.13, with a gain of 0.84% or 0.79 points. The heightened volatility saw the trading volume jump to 7,99,730 shares. Company has a market cap of $15,551 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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