Polar Capital LLP Sells 49,527 Shares of BioMarin Pharmaceutical Inc. (BMRN)
Polar Capital LLP lowered its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 14.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 301,655 shares of the company’s stock after selling 49,527 shares during the period. Polar Capital LLP owned 0.18% of BioMarin Pharmaceutical worth $23,468,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. National Pension Service boosted its position in shares of BioMarin Pharmaceutical by 4.2% in the first quarter. National Pension Service now owns 92,142 shares of the company’s stock valued at $7,600,000 after buying an additional 3,729 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of BioMarin Pharmaceutical by 13.5% in the first quarter. Envestnet Asset Management Inc. now owns 13,733 shares of the company’s stock valued at $1,133,000 after buying an additional 1,630 shares during the last quarter. venBio Select Advisor LLC acquired a new stake in shares of BioMarin Pharmaceutical during the first quarter valued at approximately $22,869,000. Iguana Healthcare Management LLC acquired a new stake in shares of BioMarin Pharmaceutical during the first quarter valued at approximately $2,398,000. Finally, Quantum Capital Management raised its stake in shares of BioMarin Pharmaceutical by 97.9% in the first quarter. Quantum Capital Management now owns 172,806 shares of the company’s stock valued at $14,253,000 after buying an additional 85,476 shares during the last quarter. Institutional investors own 93.18% of the company’s stock.
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) traded down 2.22% on Friday, hitting $91.46. The stock had a trading volume of 1,243,367 shares. The company’s 50-day moving average is $87.93 and its 200-day moving average is $89.19. BioMarin Pharmaceutical Inc. has a one year low of $62.12 and a one year high of $108.97. The stock’s market cap is $15.73 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Thursday, October 27th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.13. BioMarin Pharmaceutical had a negative return on equity of 8.54% and a negative net margin of 46.22%. The business had revenue of $279.90 million for the quarter, compared to analysts’ expectations of $289.70 million. During the same quarter last year, the firm earned ($0.60) earnings per share. The business’s revenue was up 34.0% on a year-over-year basis. On average, analysts anticipate that BioMarin Pharmaceutical Inc. will post ($3.73) earnings per share for the current fiscal year.
BMRN has been the topic of several research analyst reports. William Blair set a $116.00 price objective on BioMarin Pharmaceutical and gave the company a “buy” rating in a report on Thursday, July 28th. Jefferies Group set a $116.00 price objective on BioMarin Pharmaceutical and gave the company a “buy” rating in a report on Thursday, July 28th. Credit Suisse Group AG set a $111.00 price objective on BioMarin Pharmaceutical and gave the company a “buy” rating in a report on Thursday, July 28th. Cowen and Company reissued a “buy” rating on shares of BioMarin Pharmaceutical in a report on Thursday, July 28th. Finally, Zacks Investment Research raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $104.00 price objective on the stock in a report on Tuesday, July 19th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $115.16.
In related news, CEO Jean Jacques Bienaime sold 120,000 shares of the stock in a transaction on Friday, October 28th. The stock was sold at an average price of $81.30, for a total value of $9,756,000.00. Following the transaction, the chief executive officer now directly owns 383,368 shares of the company’s stock, valued at approximately $31,167,818.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Henry J. Fuchs sold 15,000 shares of the stock in a transaction on Friday, August 26th. The stock was sold at an average price of $95.06, for a total value of $1,425,900.00. Following the completion of the transaction, the executive vice president now directly owns 128,878 shares in the company, valued at $12,251,142.68. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.
About BioMarin Pharmaceutical
BioMarin Pharmaceutical Inc (BioMarin) develops and commercializes pharmaceuticals for various diseases and medical conditions. The Company’s product portfolio consists of approximately five approved products, and multiple clinical and pre-clinical product candidates. Its approved products include Vimizim (elosulfase alpha), Naglazyme (galsulfase), Kuvan (sapropterin dihydrochloride), Aldurazyme (laronidase) and Firdapse (amifampridine phosphate).
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