Hudson Bay Capital Management Lp buys $15,529,920 stake in BioMarin Pharmaceutical (BMRN)

BioMarin Pharmaceutical (BMRN) : Hudson Bay Capital Management Lp scooped up 78,000 additional shares in BioMarin Pharmaceutical during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 168,000 shares of BioMarin Pharmaceutical which is valued at $15,529,920.BioMarin Pharmaceutical makes up approximately 1.52% of Hudson Bay Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Blackrock Institutional Trust Company N.a. boosted its stake in BMRN in the latest quarter, The investment management firm added 108,349 additional shares and now holds a total of 3,917,865 shares of BioMarin Pharmaceutical which is valued at $362,167,441. BioMarin Pharmaceutical makes up approx 0.06% of Blackrock Institutional Trust Company N.a.’s portfolio. Endurance Wealth Management sold out all of its stake in BMRN during the most recent quarter. The investment firm sold 1,000 shares of BMRN which is valued $98,940.Msi Financial Services Inc reduced its stake in BMRN by selling 353 shares or 25.27% in the most recent quarter. The Hedge Fund company now holds 1,044 shares of BMRN which is valued at $102,406.

BioMarin Pharmaceutical closed down -1.53 points or -1.64% at $91.99 with 6,98,638 shares getting traded on Friday. Post opening the session at $93.07, the shares hit an intraday low of $91.76 and an intraday high of $93.4 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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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