BioMarin Pharmaceutical Inc. (BMRN) Shares Bought by Tower Research Capital LLC TRC

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Tower Research Capital LLC TRC lifted its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 47.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,529 shares of the biotechnology company’s stock after acquiring an additional 2,103 shares during the quarter. Tower Research Capital LLC TRC’s holdings in BioMarin Pharmaceutical were worth $633,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of BioMarin Pharmaceutical by 2.2% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 24,493 shares of the biotechnology company’s stock worth $2,307,000 after buying an additional 518 shares during the period. Morningstar Investment Services LLC grew its stake in shares of BioMarin Pharmaceutical by 11.8% in the third quarter. Morningstar Investment Services LLC now owns 5,058 shares of the biotechnology company’s stock worth $490,000 after purchasing an additional 532 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in shares of BioMarin Pharmaceutical by 0.6% in the second quarter. Great West Life Assurance Co. Can now owns 97,492 shares of the biotechnology company’s stock worth $9,186,000 after purchasing an additional 544 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its stake in shares of BioMarin Pharmaceutical by 4.8% in the second quarter. Nissay Asset Management Corp Japan ADV now owns 12,078 shares of the biotechnology company’s stock worth $1,138,000 after purchasing an additional 556 shares during the last quarter. Finally, Comerica Bank grew its stake in shares of BioMarin Pharmaceutical by 5.9% in the third quarter. Comerica Bank now owns 10,096 shares of the biotechnology company’s stock worth $1,012,000 after purchasing an additional 565 shares during the last quarter.

In other news, CEO Jean Jacques Bienaime sold 1,500 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Wednesday, October 3rd. The shares were sold at an average price of $99.36, for a total transaction of $149,040.00. Following the completion of the transaction, the chief executive officer now directly owns 287,790 shares in the company, valued at $28,594,814.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP George Eric Davis sold 12,000 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $99.57, for a total transaction of $1,194,840.00. Following the transaction, the executive vice president now owns 74,950 shares of the company’s stock, valued at $7,462,771.50. The disclosure for this sale can be found here. Insiders have sold 32,650 shares of company stock valued at $3,150,680 over the last quarter. Company insiders own 1.90% of the company’s stock.

BMRN has been the topic of several recent analyst reports. Cantor Fitzgerald set a $126.00 target price on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research note on Monday, October 15th. Zacks Investment Research cut BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Friday, October 5th. Raymond James lifted their price objective on BioMarin Pharmaceutical from $113.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, October 26th. Canaccord Genuity lifted their price objective on BioMarin Pharmaceutical from $113.00 to $116.00 and gave the company a “buy” rating in a research report on Tuesday, October 23rd. Finally, Wedbush set a $127.00 price objective on BioMarin Pharmaceutical and gave the company a “buy” rating in a research report on Monday, October 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $117.00.

BMRN stock opened at $92.70 on Friday. BioMarin Pharmaceutical Inc. has a 52-week low of $75.81 and a 52-week high of $106.74. The company has a market cap of $17.01 billion, a PE ratio of -138.36 and a beta of 1.62. The company has a quick ratio of 2.26, a current ratio of 2.87 and a debt-to-equity ratio of 0.28.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Thursday, October 25th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.15. BioMarin Pharmaceutical had a negative net margin of 8.35% and a negative return on equity of 2.98%. The firm had revenue of $391.71 million during the quarter, compared to analyst estimates of $369.43 million. Sell-side analysts predict that BioMarin Pharmaceutical Inc. will post -0.14 EPS for the current year.

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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 that is used for the treatment of patients with mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Firdapse for Lambert Eaton Myasthenic Syndrome.

Further Reading: What is the Dividend Aristocrat Index?

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

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