BioMarin Pharmaceutical Inc. (BMRN) Shares Bought by KBC Group NV
KBC Group NV raised its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 112.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 86,871 shares of the company’s stock after buying an additional 45,963 shares during the period. KBC Group NV owned approximately 0.05% of BioMarin Pharmaceutical worth $8,037,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its position in BioMarin Pharmaceutical by 13.5% in the first quarter. Envestnet Asset Management Inc. now owns 13,733 shares of the company’s stock worth $1,133,000 after buying an additional 1,630 shares during the period. NEXT Financial Group Inc increased its position in BioMarin Pharmaceutical by 244.3% in the second quarter. NEXT Financial Group Inc now owns 1,980 shares of the company’s stock worth $154,000 after buying an additional 1,405 shares during the period. DNB Asset Management AS increased its position in BioMarin Pharmaceutical by 2.4% in the second quarter. DNB Asset Management AS now owns 12,800 shares of the company’s stock worth $996,000 after buying an additional 300 shares during the period. Capstone Asset Management Co. increased its position in BioMarin Pharmaceutical by 9.6% in the second quarter. Capstone Asset Management Co. now owns 5,709 shares of the company’s stock worth $444,000 after buying an additional 501 shares during the period. Finally, Eqis Capital Management Inc. increased its position in BioMarin Pharmaceutical by 4.5% in the second quarter. Eqis Capital Management Inc. now owns 26,912 shares of the company’s stock worth $2,094,000 after buying an additional 1,160 shares during the period. Institutional investors own 97.54% of the company’s stock.
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) traded down 1.01% on Tuesday, hitting $87.47. 760,529 shares of the stock traded hands. The firm’s market capitalization is $15.04 billion. BioMarin Pharmaceutical Inc. has a 52 week low of $62.12 and a 52 week high of $107.56. The stock has a 50 day moving average of $86.14 and a 200 day moving average of $89.66.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Thursday, October 27th. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.13. The business earned $279.90 million during the quarter, compared to analysts’ expectations of $289.70 million. BioMarin Pharmaceutical had a negative net margin of 46.22% and a negative return on equity of 8.54%. The business’s quarterly revenue was up 34.0% on a year-over-year basis. During the same period last year, the company posted ($0.60) earnings per share. Equities research analysts anticipate that BioMarin Pharmaceutical Inc. will post ($3.73) earnings per share for the current year.
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A number of research firms have recently weighed in on BMRN. Barclays PLC downgraded shares of BioMarin Pharmaceutical from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $125.00 to $105.00 in a research note on Tuesday. Vetr downgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating and set a $91.77 price target on the stock. in a research note on Monday. Credit Suisse Group AG reiterated a “buy” rating and issued a $111.00 target price on shares of BioMarin Pharmaceutical in a research note on Monday, November 7th. Piper Jaffray Cos. cut shares of BioMarin Pharmaceutical from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $105.00 to $84.00 in a research note on Monday, November 7th. They noted that the move was a valuation call. Finally, Deutsche Bank AG assumed coverage on shares of BioMarin Pharmaceutical in a research note on Thursday, November 3rd. They set a “buy” rating and a $106.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $114.24.
In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 137,368 shares of the firm’s stock in a transaction on Friday, September 16th. The shares were sold at an average price of $95.34, for a total value of $13,096,665.12. Following the transaction, the chief executive officer now directly owns 421,161 shares of the company’s stock, valued at $40,153,489.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey Robert Ajer sold 18,467 shares of the firm’s stock in a transaction on Tuesday, September 27th. The shares were sold at an average price of $95.61, for a total transaction of $1,765,629.87. Following the completion of the transaction, the executive vice president now directly owns 41,342 shares in the company, valued at $3,952,708.62. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.
BioMarin Pharmaceutical Company Profile
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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