Barings LLC Acquires New Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)
Barings LLC acquired a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,222 shares of the biotechnology company’s stock, valued at approximately $458,000.
Other institutional investors also recently bought and sold shares of the company. Capstone Asset Management Co. increased its position in BioMarin Pharmaceutical by 18.8% in the first quarter. Capstone Asset Management Co. now owns 7,268 shares of the biotechnology company’s stock valued at $638,000 after buying an additional 1,150 shares in the last quarter. National Pension Service increased its position in BioMarin Pharmaceutical by 8.5% in the first quarter. National Pension Service now owns 147,473 shares of the biotechnology company’s stock valued at $13,143,000 after buying an additional 11,552 shares in the last quarter. Gulf International Bank UK Ltd increased its position in BioMarin Pharmaceutical by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 52,575 shares of the biotechnology company’s stock valued at $4,615,000 after buying an additional 800 shares in the last quarter. Creative Planning increased its position in BioMarin Pharmaceutical by 0.7% in the first quarter. Creative Planning now owns 13,440 shares of the biotechnology company’s stock valued at $1,180,000 after buying an additional 100 shares in the last quarter. Finally, Deane Retirement Strategies Inc. acquired a new position in BioMarin Pharmaceutical during the first quarter valued at $1,799,000. 96.50% of the stock is currently owned by institutional investors and hedge funds.
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) opened at 89.80 on Tuesday. BioMarin Pharmaceutical Inc. has a one year low of $78.42 and a one year high of $102.49. The firm’s market cap is $15.67 billion. The company has a 50 day moving average of $90.64 and a 200-day moving average of $89.40.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Thursday, May 4th. The biotechnology company reported $0.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.33. The firm had revenue of $303.70 million during the quarter, compared to the consensus estimate of $292.58 million. BioMarin Pharmaceutical had a negative net margin of 48.43% and a negative return on equity of 22.71%. The company’s revenue was up 28.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.53) EPS. On average, equities research analysts predict that BioMarin Pharmaceutical Inc. will post ($0.81) earnings per share for the current year.
BMRN has been the topic of several research reports. Vetr downgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating and set a $96.20 price target on the stock. in a research note on Monday, March 13th. Cowen and Company reissued an “outperform” rating and issued a $150.00 price target on shares of BioMarin Pharmaceutical in a research note on Wednesday, March 15th. Credit Suisse Group reissued an “outperform” rating and issued a $112.00 price target on shares of BioMarin Pharmaceutical in a research note on Tuesday, April 18th. BMO Capital Markets decreased their price target on shares of BioMarin Pharmaceutical from $112.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, April 24th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $116.00 price target on shares of BioMarin Pharmaceutical in a research note on Wednesday, April 26th. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. BioMarin Pharmaceutical presently has an average rating of “Buy” and an average price target of $111.69.
In related news, SVP Brian Mueller sold 2,671 shares of the stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $100.00, for a total transaction of $267,100.00. Following the completion of the sale, the senior vice president now owns 15,556 shares of the company’s stock, valued at approximately $1,555,600. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP George Eric Davis sold 9,844 shares of the stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $96.60, for a total transaction of $950,930.40. Following the sale, the executive vice president now directly owns 93,425 shares of the company’s stock, valued at approximately $9,024,855. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,024 shares of company stock valued at $8,536,526. Corporate insiders own 2.50% of the company’s stock.
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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