Pacer Advisors Inc. raised its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 14.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 5,322 shares of the biotechnology company’s stock after purchasing an additional 687 shares during the period. Pacer Advisors Inc.’s holdings in BioMarin Pharmaceutical were worth $483,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in BioMarin Pharmaceutical by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 13,702,404 shares of the biotechnology company’s stock valued at $1,202,796,000 after purchasing an additional 495,118 shares in the last quarter. Jennison Associates LLC lifted its holdings in BioMarin Pharmaceutical by 33.8% in the 2nd quarter. Jennison Associates LLC now owns 13,242,773 shares of the biotechnology company’s stock valued at $1,202,709,000 after purchasing an additional 3,348,168 shares in the last quarter. Primecap Management Co. CA lifted its holdings in BioMarin Pharmaceutical by 10.5% in the 1st quarter. Primecap Management Co. CA now owns 8,712,268 shares of the biotechnology company’s stock valued at $764,763,000 after purchasing an additional 826,320 shares in the last quarter. State Street Corp lifted its holdings in BioMarin Pharmaceutical by 6.9% in the 1st quarter. State Street Corp now owns 4,001,529 shares of the biotechnology company’s stock valued at $351,249,000 after purchasing an additional 258,417 shares in the last quarter. Finally, Palo Alto Investors LLC lifted its holdings in BioMarin Pharmaceutical by 21.5% in the 1st quarter. Palo Alto Investors LLC now owns 2,382,619 shares of the biotechnology company’s stock valued at $209,146,000 after purchasing an additional 422,400 shares in the last quarter. Institutional investors own 97.42% of the company’s stock.
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BMRN has been the topic of a number of research reports. ValuEngine upgraded BioMarin Pharmaceutical from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Cowen and Company reiterated a “buy” rating on shares of BioMarin Pharmaceutical in a report on Tuesday, July 11th. BMO Capital Markets reiterated an “outperform” rating and set a $115.00 price target (up previously from $111.00) on shares of BioMarin Pharmaceutical in a report on Thursday, July 13th. SunTrust Banks, Inc. reiterated a “buy” rating and set a $115.00 price target on shares of BioMarin Pharmaceutical in a report on Friday, July 14th. Finally, Zacks Investment Research upgraded BioMarin Pharmaceutical from a “hold” rating to a “strong-buy” rating and set a $105.00 price target on the stock in a report on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the company’s stock. BioMarin Pharmaceutical currently has a consensus rating of “Hold” and a consensus target price of $109.09.
In other news, SVP Brian Mueller sold 2,671 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $100.00, for a total value of $267,100.00. Following the completion of the transaction, the senior vice president now owns 15,556 shares in the company, valued at approximately $1,555,600. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Henry J. Fuchs sold 15,000 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $90.00, for a total value of $1,350,000.00. Following the completion of the transaction, the insider now owns 141,422 shares of the company’s stock, valued at approximately $12,727,980. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,515 shares of company stock valued at $2,568,030. Insiders own 2.50% of the company’s stock.
Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) opened at 91.25 on Friday. The company’s 50-day moving average price is $86.36 and its 200 day moving average price is $89.56. The stock’s market cap is $15.99 billion. BioMarin Pharmaceutical Inc. has a 1-year low of $78.42 and a 1-year high of $101.27.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.01. The firm had revenue of $317.50 million during the quarter, compared to analyst estimates of $311.41 million. BioMarin Pharmaceutical had a negative return on equity of 5.77% and a negative net margin of 15.54%. BioMarin Pharmaceutical’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned ($2.61) EPS. Equities analysts forecast that BioMarin Pharmaceutical Inc. will post ($0.71) EPS for the current fiscal year.
BioMarin Pharmaceutical Company Profile
BioMarin Pharmaceutical Inc is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A).
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