First Hawaiian Bank Lowers Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

First Hawaiian Bank reduced its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 2.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,500 shares of the biotechnology company’s stock after selling 400 shares during the quarter. First Hawaiian Bank’s holdings in BioMarin Pharmaceutical were worth $1,276,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Arizona State Retirement System increased its position in shares of BioMarin Pharmaceutical by 1.0% during the fourth quarter. Arizona State Retirement System now owns 51,718 shares of the biotechnology company’s stock valued at $4,987,000 after acquiring an additional 510 shares during the last quarter. SteelPeak Wealth LLC acquired a new position in shares of BioMarin Pharmaceutical during the fourth quarter worth about $217,000. International Assets Investment Management LLC purchased a new position in BioMarin Pharmaceutical in the fourth quarter worth $3,598,000. Allworth Financial LP grew its position in BioMarin Pharmaceutical by 54.9% during the fourth quarter. Allworth Financial LP now owns 604 shares of the biotechnology company’s stock worth $58,000 after buying an additional 214 shares during the period. Finally, Stratos Wealth Partners LTD. raised its holdings in BioMarin Pharmaceutical by 2.1% during the fourth quarter. Stratos Wealth Partners LTD. now owns 5,709 shares of the biotechnology company’s stock worth $550,000 after purchasing an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, Director Jean Jacques Bienaime sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $81.62, for a total transaction of $1,632,400.00. Following the completion of the transaction, the director now owns 474,994 shares of the company’s stock, valued at $38,769,010.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other BioMarin Pharmaceutical news, CFO Brian Mueller sold 5,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $75.19, for a total transaction of $375,950.00. Following the completion of the sale, the chief financial officer now directly owns 72,159 shares in the company, valued at approximately $5,425,635.21. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jean Jacques Bienaime sold 20,000 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $81.62, for a total value of $1,632,400.00. Following the completion of the transaction, the director now directly owns 474,994 shares in the company, valued at $38,769,010.28. The disclosure for this sale can be found here. Insiders have sold a total of 65,850 shares of company stock worth $5,052,084 over the last quarter. Corporate insiders own 1.85% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on BMRN. Scotiabank increased their price objective on BioMarin Pharmaceutical from $85.00 to $86.00 and gave the company a “sector perform” rating in a research note on Tuesday. StockNews.com raised shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Tuesday, July 30th. Barclays decreased their price objective on shares of BioMarin Pharmaceutical from $111.00 to $110.00 and set an “overweight” rating for the company in a report on Tuesday. Baird R W downgraded shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a report on Friday, May 17th. Finally, Stifel Nicolaus upped their price objective on BioMarin Pharmaceutical from $108.00 to $112.00 and gave the stock a “buy” rating in a research note on Tuesday. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.63.

BioMarin Pharmaceutical Price Performance

Shares of BMRN traded up $6.13 during midday trading on Tuesday, reaching $86.60. The stock had a trading volume of 2,413,503 shares, compared to its average volume of 1,868,001. The company’s 50-day moving average is $82.63 and its 200 day moving average is $84.98. The company has a current ratio of 2.74, a quick ratio of 1.70 and a debt-to-equity ratio of 0.12. BioMarin Pharmaceutical Inc. has a 12-month low of $73.68 and a 12-month high of $99.56. The company has a market capitalization of $16.44 billion, a price-to-earnings ratio of 81.18, a price-to-earnings-growth ratio of 1.20 and a beta of 0.32.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.