Westpac Banking Corp Has $910,000 Position in BioMarin Pharmaceutical Inc. (BMRN)
Westpac Banking Corp decreased its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 24.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,018 shares of the biotechnology company’s stock after selling 3,281 shares during the quarter. Westpac Banking Corp’s holdings in BioMarin Pharmaceutical were worth $910,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Aperio Group LLC lifted its stake in BioMarin Pharmaceutical by 9.7% in the 2nd quarter. Aperio Group LLC now owns 56,491 shares of the biotechnology company’s stock worth $5,131,000 after purchasing an additional 5,006 shares in the last quarter. Emory University lifted its stake in BioMarin Pharmaceutical by 3.2% in the 1st quarter. Emory University now owns 23,791 shares of the biotechnology company’s stock worth $2,088,000 after purchasing an additional 744 shares in the last quarter. UBS Asset Management Americas Inc. lifted its stake in BioMarin Pharmaceutical by 11.3% in the 1st quarter. UBS Asset Management Americas Inc. now owns 1,087,995 shares of the biotechnology company’s stock worth $95,504,000 after purchasing an additional 110,504 shares in the last quarter. Swiss National Bank lifted its stake in BioMarin Pharmaceutical by 3.6% in the 2nd quarter. Swiss National Bank now owns 631,600 shares of the biotechnology company’s stock worth $57,362,000 after purchasing an additional 22,200 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its stake in BioMarin Pharmaceutical by 1.4% in the 1st quarter. William Blair Investment Management LLC now owns 1,123,928 shares of the biotechnology company’s stock worth $98,658,000 after purchasing an additional 15,687 shares in the last quarter. Institutional investors own 97.42% of the company’s stock.
In other news, insider Henry J. Fuchs sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $90.00, for a total value of $1,350,000.00. Following the sale, the insider now directly owns 141,422 shares of the company’s stock, valued at approximately $12,727,980. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director V Bryan Lawlis sold 3,750 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $90.00, for a total transaction of $337,500.00. Following the completion of the sale, the director now directly owns 19,660 shares in the company, valued at $1,769,400. The disclosure for this sale can be found here. Insiders sold a total of 31,265 shares of company stock worth $2,905,530 over the last three months. Insiders own 2.50% of the company’s stock.
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BioMarin Pharmaceutical Inc. (NASDAQ BMRN) opened at 90.10 on Monday. BioMarin Pharmaceutical Inc. has a 52 week low of $78.42 and a 52 week high of $101.27. The company’s market capitalization is $15.79 billion. The firm has a 50-day moving average of $86.10 and a 200-day moving average of $89.49.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.01. The business had revenue of $317.50 million for the quarter, compared to the consensus estimate of $311.41 million. BioMarin Pharmaceutical had a negative net margin of 15.54% and a negative return on equity of 5.77%. The business’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($2.61) EPS. Analysts anticipate that BioMarin Pharmaceutical Inc. will post ($0.71) EPS for the current fiscal year.
Several brokerages have commented on BMRN. Citigroup Inc. began coverage on shares of BioMarin Pharmaceutical in a research note on Thursday, August 31st. They issued a “buy” rating and a $98.00 price target on the stock. Jefferies Group LLC set a $116.00 price target on shares of BioMarin Pharmaceutical and gave the stock a “buy” rating in a research note on Friday, August 25th. BidaskClub cut shares of BioMarin Pharmaceutical from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Evercore ISI began coverage on shares of BioMarin Pharmaceutical in a research note on Wednesday, August 16th. They issued an “outperform” rating and a $100.00 price target on the stock. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $119.00 price target (up previously from $118.00) on shares of BioMarin Pharmaceutical in a research note on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $109.22.
About BioMarin Pharmaceutical
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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