Amici Capital Lowers stake in BioMarin Pharmaceutical (BMRN)

BioMarin Pharmaceutical (BMRN) : Amici Capital reduced its stake in BioMarin Pharmaceutical by 18.69% during the most recent quarter end. The investment management company now holds a total of 495,017 shares of BioMarin Pharmaceutical which is valued at $45,992,029 after selling 113,767 shares in BioMarin Pharmaceutical , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.BioMarin Pharmaceutical makes up approximately 17.50% of Amici Capital’s portfolio.

Other Hedge Funds, Including , Pacad Investment Ltd. boosted its stake in BMRN in the latest quarter, The investment management firm added 400 additional shares and now holds a total of 4,100 shares of BioMarin Pharmaceutical which is valued at $380,931. BioMarin Pharmaceutical makes up approx 0.05% of Pacad Investment Ltd.’s portfolio.Proshare Advisors reduced its stake in BMRN by selling 31,106 shares or 17.99% in the most recent quarter. The Hedge Fund company now holds 141,775 shares of BMRN which is valued at $13,261,634. BioMarin Pharmaceutical makes up approx 0.19% of Proshare Advisors’s portfolio.Mn Services Vermogensbeheer B.v. boosted its stake in BMRN in the latest quarter, The investment management firm added 79 additional shares and now holds a total of 4,161 shares of BioMarin Pharmaceutical which is valued at $347,610. BioMarin Pharmaceutical makes up approx 0.07% of Mn Services Vermogensbeheer B.v.’s portfolio. Diversified Trust Co sold out all of its stake in BMRN during the most recent quarter. The investment firm sold 10,130 shares of BMRN which is valued $796,421.Spot Trading L.l.c reduced its stake in BMRN by selling 9,021 shares or 28.21% in the most recent quarter. The Hedge Fund company now holds 22,954 shares of BMRN which is valued at $1,898,525. BioMarin Pharmaceutical makes up approx 0.32% of Spot Trading L.l.c’s portfolio.

BioMarin Pharmaceutical closed down -1.74 points or -1.92% at $89 with 8,24,650 shares getting traded on Monday. Post opening the session at $90.42, the shares hit an intraday low of $88.92 and an intraday high of $91.21 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, BioMarin Pharmaceutical reported $0.02 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Oct 27, 2016. Analyst had a consensus of $-0.08. The company had revenue of $279.90 million for the quarter, compared to analysts expectations of $289.36 million. The company’s revenue was up 34.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.60 EPS.

Many Wall Street Analysts have commented on BioMarin Pharmaceutical. BioMarin Pharmaceutical was Downgraded by Piper Jaffray to ” Neutral” on Nov 7, 2016. Deutsche Bank Initiated BioMarin Pharmaceutical on Nov 3, 2016 to “Buy”, Price Target of the shares are set at $106.

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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