Tocqueville Asset Management L.P. Sells 1,850 Shares of BioMarin Pharmaceutical Inc. (BMRN)
Tocqueville Asset Management L.P. decreased its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 8.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 19,250 shares of the biotechnology company’s stock after selling 1,850 shares during the period. Tocqueville Asset Management L.P.’s holdings in BioMarin Pharmaceutical were worth $1,748,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Capstone Asset Management Co. boosted its position in shares of BioMarin Pharmaceutical by 18.8% in the first quarter. Capstone Asset Management Co. now owns 7,268 shares of the biotechnology company’s stock worth $638,000 after buying an additional 1,150 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in shares of BioMarin Pharmaceutical during the first quarter worth approximately $298,000. Nationwide Fund Advisors boosted its position in shares of BioMarin Pharmaceutical by 3.4% in the first quarter. Nationwide Fund Advisors now owns 30,800 shares of the biotechnology company’s stock worth $2,704,000 after buying an additional 1,000 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in shares of BioMarin Pharmaceutical by 3.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,587 shares of the biotechnology company’s stock worth $376,000 after buying an additional 166 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of BioMarin Pharmaceutical by 4.7% in the first quarter. Janney Montgomery Scott LLC now owns 12,336 shares of the biotechnology company’s stock worth $1,083,000 after buying an additional 550 shares during the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.
BioMarin Pharmaceutical Inc. (BMRN) opened at 81.88 on Friday. The firm’s 50-day moving average price is $86.39 and its 200 day moving average price is $89.64. The stock’s market cap is $14.35 billion. BioMarin Pharmaceutical Inc. has a 12 month low of $78.42 and a 12 month high of $101.27.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.01. The company had revenue of $317.50 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the business earned ($2.61) EPS. On average, analysts anticipate that BioMarin Pharmaceutical Inc. will post ($0.72) earnings per share for the current year.
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A number of research analysts have commented on BMRN shares. J P Morgan Chase & Co reiterated a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Monday, May 1st. Zacks Investment Research raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $107.00 price objective for the company in a research note on Monday, May 1st. Jefferies Group LLC reissued a “buy” rating and set a $116.00 price objective on shares of BioMarin Pharmaceutical in a research note on Friday, May 5th. Cowen and Company reissued a “buy” rating and set a $150.00 price objective on shares of BioMarin Pharmaceutical in a research note on Friday, May 5th. Finally, Wedbush reissued a “hold” rating and set a $108.00 price objective on shares of BioMarin Pharmaceutical in a research note on Monday, May 8th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the stock. BioMarin Pharmaceutical has a consensus rating of “Hold” and a consensus price target of $109.73.
In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 9,844 shares of BioMarin Pharmaceutical stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $96.60, for a total transaction of $950,930.40. Following the completion of the sale, the executive vice president now directly owns 93,425 shares of the company’s stock, valued at approximately $9,024,855. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Brian Mueller sold 2,671 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $100.00, for a total value of $267,100.00. Following the sale, the senior vice president now directly owns 15,556 shares of the company’s stock, valued at $1,555,600. The disclosure for this sale can be found here. Insiders have sold a total of 51,740 shares of company stock valued at $4,759,039 over the last ninety days. 2.50% of the stock is owned by company insiders.
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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