Artal Group S.a. Lowers stake in BioMarin Pharmaceutical (BMRN)

BioMarin Pharmaceutical (BMRN) : Artal Group S.a. reduced its stake in BioMarin Pharmaceutical by 12.5% during the most recent quarter end. The investment management company now holds a total of 350,000 shares of BioMarin Pharmaceutical which is valued at $32,354,000 after selling 50,000 shares in BioMarin Pharmaceutical , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.BioMarin Pharmaceutical makes up approximately 0.67% of Artal Group S.a.’s portfolio.

Other Hedge Funds, Including , National Pension Service boosted its stake in BMRN in the latest quarter, The investment management firm added 24,135 additional shares and now holds a total of 116,277 shares of BioMarin Pharmaceutical which is valued at $10,748,646. BioMarin Pharmaceutical makes up approx 0.09% of National Pension Service’s portfolio.Mycio Wealth Partners boosted its stake in BMRN in the latest quarter, The investment management firm added 19 additional shares and now holds a total of 719 shares of BioMarin Pharmaceutical which is valued at $66,464. BioMarin Pharmaceutical makes up approx 0.01% of Mycio Wealth Partners’s portfolio.Sivik Global Healthcare reduced its stake in BMRN by selling 20,000 shares or 33.33% in the most recent quarter. The Hedge Fund company now holds 40,000 shares of BMRN which is valued at $3,957,600. BioMarin Pharmaceutical makes up approx 1.85% of Sivik Global Healthcare’s portfolio. Timber Hill added BMRN to its portfolio by purchasing 9,925 company shares during the most recent quarter which is valued at $981,980. BioMarin Pharmaceutical makes up approx 0.08% of Timber Hill’s portfolio.Columbus Circle Investors reduced its stake in BMRN by selling 43,303 shares or 19.54% in the most recent quarter. The Hedge Fund company now holds 178,355 shares of BMRN which is valued at $18,095,898. BioMarin Pharmaceutical makes up approx 0.17% of Columbus Circle Investors’s portfolio.

BioMarin Pharmaceutical opened for trading at $99.11 and hit $99.95 on the upside on Tuesday, eventually ending the session at $99.43, with a gain of 1.28% or 1.26 points. The heightened volatility saw the trading volume jump to 16,95,976 shares. Company has a market cap of $16,253 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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