Schmidt P J Investment Management Inc. Sells 416 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Schmidt P J Investment Management Inc. trimmed its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 6.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 5,967 shares of the biotechnology company’s stock after selling 416 shares during the period. Schmidt P J Investment Management Inc.’s holdings in BioMarin Pharmaceutical were worth $511,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Comerica Securities Inc. grew its holdings in shares of BioMarin Pharmaceutical by 23.9% during the fourth quarter. Comerica Securities Inc. now owns 3,197 shares of the biotechnology company’s stock worth $272,000 after purchasing an additional 617 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of BioMarin Pharmaceutical by 7.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 309,779 shares of the biotechnology company’s stock worth $26,375,000 after purchasing an additional 21,009 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of BioMarin Pharmaceutical by 6.0% during the fourth quarter. Geode Capital Management LLC now owns 1,643,507 shares of the biotechnology company’s stock worth $139,844,000 after purchasing an additional 92,519 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of BioMarin Pharmaceutical during the fourth quarter worth about $360,000. Finally, Rhenman & Partners Asset Management AB grew its holdings in shares of BioMarin Pharmaceutical by 31.2% during the first quarter. Rhenman & Partners Asset Management AB now owns 231,549 shares of the biotechnology company’s stock worth $20,568,000 after purchasing an additional 55,000 shares during the last quarter. 98.38% of the stock is owned by institutional investors.

Shares of NASDAQ BMRN traded down $2.07 during midday trading on Monday, reaching $75.77. 86,203 shares of the company were exchanged, compared to its average volume of 1,035,232. The company has a current ratio of 3.83, a quick ratio of 2.76 and a debt-to-equity ratio of 0.28. BioMarin Pharmaceutical Inc. has a 1 year low of $76.00 and a 1 year high of $106.74. The company’s fifty day moving average is $82.90. The company has a market capitalization of $13.64 billion, a PE ratio of -230.36 and a beta of 1.35.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.16). BioMarin Pharmaceutical had a negative return on equity of 3.13% and a negative net margin of 7.19%. The company had revenue of $388.00 million for the quarter, compared to analysts’ expectations of $415.03 million. During the same period in the prior year, the business earned ($0.09) EPS. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, equities research analysts predict that BioMarin Pharmaceutical Inc. will post -0.05 earnings per share for the current year.

Several equities analysts have issued reports on BMRN shares. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $133.00 price objective on shares of BioMarin Pharmaceutical in a report on Monday. Robert W. Baird set a $120.00 price objective on BioMarin Pharmaceutical and gave the stock a “buy” rating in a report on Friday, April 26th. BidaskClub lowered BioMarin Pharmaceutical from a “sell” rating to a “strong sell” rating in a report on Friday, July 26th. Citigroup reaffirmed a “buy” rating on shares of BioMarin Pharmaceutical in a report on Thursday, May 23rd. Finally, TheStreet lowered BioMarin Pharmaceutical from a “c-” rating to a “d+” rating in a report on Tuesday, May 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the stock. BioMarin Pharmaceutical presently has a consensus rating of “Buy” and an average price target of $116.00.

In related news, Director V Bryan Lawlis sold 3,750 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $81.08, for a total transaction of $304,050.00. Following the transaction, the director now owns 27,340 shares of the company’s stock, valued at $2,216,727.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jean Jacques Bienaime sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $82.52, for a total value of $825,200.00. Following the transaction, the chief executive officer now directly owns 336,520 shares in the company, valued at approximately $27,769,630.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,750 shares of company stock worth $1,457,890. Corporate insiders own 1.97% of the company’s stock.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.

See Also: What is the Ex-Dividend Date in Investing?

Want to see what other hedge funds are holding BMRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BioMarin Pharmaceutical Inc. (NASDAQ:BMRN).

Institutional Ownership by Quarter for BioMarin Pharmaceutical (NASDAQ:BMRN)

Receive News & Ratings for BioMarin Pharmaceutical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioMarin Pharmaceutical and related companies with MarketBeat.com's FREE daily email newsletter.