Sectoral Asset Management Inc Lowers stake in BioMarin Pharmaceutical (BMRN)

BioMarin Pharmaceutical (BMRN) : Sectoral Asset Management Inc reduced its stake in BioMarin Pharmaceutical by 66.77% during the most recent quarter end. The investment management company now holds a total of 494,836 shares of BioMarin Pharmaceutical which is valued at $45,742,640 after selling 994,301 shares in BioMarin Pharmaceutical , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.BioMarin Pharmaceutical makes up approximately 4.33% of Sectoral Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Marshall Wace Llp boosted its stake in BMRN in the latest quarter, The investment management firm added 70,744 additional shares and now holds a total of 77,955 shares of BioMarin Pharmaceutical which is valued at $7,206,160. BioMarin Pharmaceutical makes up approx 0.06% of Marshall Wace Llp’s portfolio.Victory Capital Management Inc reduced its stake in BMRN by selling 155,272 shares or 11.59% in the most recent quarter. The Hedge Fund company now holds 1,184,794 shares of BMRN which is valued at $109,012,896. BioMarin Pharmaceutical makes up approx 0.43% of Victory Capital Management Inc’s portfolio.Utah Retirement Systems boosted its stake in BMRN in the latest quarter, The investment management firm added 800 additional shares and now holds a total of 29,681 shares of BioMarin Pharmaceutical which is valued at $3,011,434. BioMarin Pharmaceutical makes up approx 0.08% of Utah Retirement Systems’s portfolio.Simplex Trading boosted its stake in BMRN in the latest quarter, The investment management firm added 16,011 additional shares and now holds a total of 16,603 shares of BioMarin Pharmaceutical which is valued at $1,556,697. BioMarin Pharmaceutical makes up approx 0.20% of Simplex Trading’s portfolio.Nn Investment Partners Holdings N.v. reduced its stake in BMRN by selling 3,000 shares or 18.65% in the most recent quarter. The Hedge Fund company now holds 13,085 shares of BMRN which is valued at $1,139,965. BioMarin Pharmaceutical makes up approx 0.01% of Nn Investment Partners Holdings N.v.’s portfolio.

BioMarin Pharmaceutical closed down -0.48 points or -0.50% at $95.74 with 8,00,206 shares getting traded on Monday. Post opening the session at $96.26, the shares hit an intraday low of $94.88 and an intraday high of $96.7899 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 $-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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