BioMarin Pharmaceutical Inc. (BMRN) Stake Raised by Swiss National Bank
Swiss National Bank raised its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 3.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 631,600 shares of the biotechnology company’s stock after buying an additional 22,200 shares during the quarter. Swiss National Bank owned about 0.36% of BioMarin Pharmaceutical worth $57,362,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Eagle Asset Management Inc. grew its position in shares of BioMarin Pharmaceutical by 21.7% in the 2nd quarter. Eagle Asset Management Inc. now owns 306,353 shares of the biotechnology company’s stock worth $27,822,000 after buying an additional 54,675 shares during the last quarter. Bronfman E.L. Rothschild L.P. grew its position in shares of BioMarin Pharmaceutical by 12.1% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,729 shares of the biotechnology company’s stock worth $429,000 after buying an additional 512 shares during the last quarter. Greenwood Capital Associates LLC grew its position in shares of BioMarin Pharmaceutical by 6.1% in the 2nd quarter. Greenwood Capital Associates LLC now owns 5,899 shares of the biotechnology company’s stock worth $536,000 after buying an additional 337 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter worth approximately $213,000. Finally, Neuberger Berman Group LLC grew its position in shares of BioMarin Pharmaceutical by 49.5% in the 2nd quarter. Neuberger Berman Group LLC now owns 240,955 shares of the biotechnology company’s stock worth $21,884,000 after buying an additional 79,759 shares during the last quarter. Hedge funds and other institutional investors own 97.42% of the company’s stock.
Shares of BioMarin Pharmaceutical Inc. (BMRN) opened at 90.67 on Monday. The stock’s market cap is $15.89 billion. BioMarin Pharmaceutical Inc. has a 52-week low of $78.42 and a 52-week high of $101.27. The company’s 50-day moving average price is $85.89 and its 200-day moving average price is $89.51.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its 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 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%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted ($2.61) EPS. On average, equities research analysts forecast that BioMarin Pharmaceutical Inc. will post ($0.72) earnings per share for the current fiscal year.
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A number of brokerages have recently weighed in on BMRN. Wedbush reiterated a “neutral” rating and issued a $108.00 price objective on shares of BioMarin Pharmaceutical in a research report on Monday, August 7th. Jefferies Group LLC reiterated a “buy” rating and issued a $116.00 price objective on shares of BioMarin Pharmaceutical in a research report on Monday, May 15th. Zacks Investment Research upgraded BioMarin Pharmaceutical from a “hold” rating to a “strong-buy” rating and set a $105.00 price objective on the stock in a research report on Monday, July 17th. Cowen and Company reiterated a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Friday, August 4th. Finally, BidaskClub lowered BioMarin Pharmaceutical from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the stock. BioMarin Pharmaceutical presently has an average rating of “Hold” and a consensus target price of $109.22.
In other BioMarin Pharmaceutical news, EVP Jeffrey Robert Ajer sold 1,004 shares of BioMarin Pharmaceutical stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $89.61, for a total transaction of $89,968.44. Following the completion of the transaction, the executive vice president now owns 47,944 shares in the company, valued at approximately $4,296,261.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP George Eric Davis sold 9,844 shares of BioMarin Pharmaceutical stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $96.60, for a total value of $950,930.40. Following the transaction, the executive vice president now owns 93,425 shares of the company’s stock, valued at approximately $9,024,855. The disclosure for this sale can be found here. Insiders sold a total of 32,269 shares of company stock valued at $2,995,499 in the last 90 days. 2.50% of the stock is currently 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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