BioMarin Pharmaceutical Inc. (BMRN) Position Reduced by First Light Asset Management LLC
First Light Asset Management LLC lessened its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 0.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,567 shares of the biotechnology company’s stock after selling 25 shares during the quarter. First Light Asset Management LLC’s holdings in BioMarin Pharmaceutical were worth $2,867,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Parallel Advisors LLC raised its holdings in BioMarin Pharmaceutical by 13.6% in the 1st quarter. Parallel Advisors LLC now owns 1,042 shares of the biotechnology company’s stock worth $100,000 after acquiring an additional 125 shares during the period. Korea Investment CORP raised its holdings in BioMarin Pharmaceutical by 143.5% in the 2nd quarter. Korea Investment CORP now owns 1,595 shares of the biotechnology company’s stock worth $145,000 after acquiring an additional 940 shares during the period. Global X Management Co. LLC raised its holdings in BioMarin Pharmaceutical by 59.7% in the 1st quarter. Global X Management Co. LLC now owns 1,656 shares of the biotechnology company’s stock worth $145,000 after acquiring an additional 619 shares during the period. Mutual of America Capital Management LLC raised its holdings in BioMarin Pharmaceutical by 20.0% in the 1st quarter. Mutual of America Capital Management LLC now owns 2,066 shares of the biotechnology company’s stock worth $181,000 after acquiring an additional 344 shares during the period. Finally, Cambridge Investment Research Advisors Inc. bought a new position in BioMarin Pharmaceutical in the 2nd quarter worth $213,000. Hedge funds and other institutional investors own 97.46% of the company’s stock.
Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) traded up 0.11% during trading on Friday, hitting $93.07. 874,743 shares of the company’s stock were exchanged. BioMarin Pharmaceutical Inc. has a 1-year low of $78.42 and a 1-year high of $100.51. The stock’s market cap is $16.31 billion. The stock’s 50-day moving average price is $86.72 and its 200-day moving average price is $89.48.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.01. BioMarin Pharmaceutical had a negative net margin of 15.54% and a negative return on equity of 5.77%. The company had revenue of $317.50 million for the quarter, compared to the consensus estimate of $311.41 million. During the same period last year, the company posted ($2.61) EPS. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, equities analysts expect that BioMarin Pharmaceutical Inc. will post ($0.71) earnings per share for the current fiscal year.
Several brokerages recently commented on BMRN. Jefferies Group LLC reiterated a “buy” rating and issued a $116.00 target price on shares of BioMarin Pharmaceutical in a report on Tuesday. Piper Jaffray Companies initiated coverage on shares of BioMarin Pharmaceutical in a research report on Thursday, September 14th. They issued an “overweight” rating and a $113.00 price target on the stock. ValuEngine upgraded shares of BioMarin Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Royal Bank Of Canada initiated coverage on shares of BioMarin Pharmaceutical in a research report on Thursday, September 14th. They issued a “sector perform” rating and a $93.00 price target on the stock. Finally, BMO Capital Markets restated a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Friday, September 15th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the stock. BioMarin Pharmaceutical currently has a consensus rating of “Hold” and an average price target of $109.09.
In other news, Director V Bryan Lawlis sold 3,750 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $91.26, for a total value of $342,225.00. Following the sale, the director now directly owns 19,660 shares in the company, valued at approximately $1,794,171.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Henry J. Fuchs sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $90.50, for a total transaction of $1,357,500.00. Following the completion of the sale, the insider now owns 141,422 shares in the company, valued at $12,798,691. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,271 shares of company stock worth $2,034,220. 2.50% of the stock is currently owned by corporate insiders.
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BioMarin Pharmaceutical 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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