First Hawaiian Bank Sells 400 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

First Hawaiian Bank lowered its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 2.5% during the second quarter, Holdings Channel reports. The firm owned 15,500 shares of the biotechnology company’s stock after selling 400 shares during the period. First Hawaiian Bank’s holdings in BioMarin Pharmaceutical were worth $1,276,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Lindbrook Capital LLC increased its stake in BioMarin Pharmaceutical by 259.8% in the fourth quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock valued at $37,000 after purchasing an additional 278 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in BioMarin Pharmaceutical by 135.3% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 249 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of BioMarin Pharmaceutical during the fourth quarter valued at approximately $43,000. First Horizon Advisors Inc. raised its holdings in shares of BioMarin Pharmaceutical by 33.3% during the fourth quarter. First Horizon Advisors Inc. now owns 576 shares of the biotechnology company’s stock valued at $56,000 after acquiring an additional 144 shares in the last quarter. Finally, Allworth Financial LP lifted 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 valued at $58,000 after buying an additional 214 shares during the period. 98.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BMRN. Stifel Nicolaus boosted their target price on shares of BioMarin Pharmaceutical from $108.00 to $112.00 and gave the company a “buy” rating in a research note on Tuesday. Citigroup dropped their target price on shares of BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. StockNews.com upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a report on Tuesday, July 30th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $89.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, July 25th. Finally, Baird R W cut BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 17th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.63.

BioMarin Pharmaceutical Stock Up 7.6 %

BioMarin Pharmaceutical stock traded up $6.13 during trading on Tuesday, reaching $86.60. 2,413,503 shares of the company’s stock were exchanged, compared to its average volume of 1,868,001. The firm has a market cap of $16.44 billion, a price-to-earnings ratio of 81.18, a PEG ratio of 1.20 and a beta of 0.32. The company’s 50-day moving average is $82.63 and its two-hundred day moving average is $84.98. BioMarin Pharmaceutical Inc. has a 52-week low of $73.68 and a 52-week high of $99.56. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.70 and a current ratio of 2.74.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, Director Jean Jacques Bienaime sold 20,000 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 474,994 shares in the company, valued at approximately $38,769,010.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other BioMarin Pharmaceutical news, CFO Brian Mueller sold 5,000 shares of BioMarin Pharmaceutical 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 transaction, the chief financial officer now directly owns 72,159 shares in the company, valued at $5,425,635.21. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jean Jacques Bienaime sold 20,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 474,994 shares in the company, valued at approximately $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 valued at $5,052,084 in the last quarter. Insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Company Profile

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.