Element Capital Management LLC bought a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 154,391 shares of the biotechnology company’s stock, valued at approximately $13,767,000. Element Capital Management LLC owned about 0.09% of BioMarin Pharmaceutical as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. First Manhattan Co. grew its position in shares of BioMarin Pharmaceutical by 104.2% in the fourth quarter. First Manhattan Co. now owns 1,225 shares of the biotechnology company’s stock valued at $109,000 after purchasing an additional 625 shares during the last quarter. Financial Gravity Companies Inc. purchased a new position in shares of BioMarin Pharmaceutical during the fourth quarter valued at approximately $112,000. Commerce Bank purchased a new position in shares of BioMarin Pharmaceutical during the third quarter valued at approximately $209,000. Teacher Retirement System of Texas purchased a new position in shares of BioMarin Pharmaceutical during the third quarter valued at approximately $220,000. Finally, First Republic Investment Management Inc. purchased a new position in shares of BioMarin Pharmaceutical during the third quarter valued at approximately $220,000.
In other news, EVP Jeffrey Robert Ajer sold 1,537 shares of the business’s stock in a transaction on Thursday, March 29th. The shares were sold at an average price of $79.69, for a total value of $122,483.53. Following the completion of the sale, the executive vice president now directly owns 55,033 shares in the company, valued at $4,385,579.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP George Eric Davis sold 30,000 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $90.66, for a total transaction of $2,719,800.00. Following the completion of the sale, the executive vice president now owns 112,942 shares of the company’s stock, valued at $10,239,321.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 85,269 shares of company stock worth $7,301,002. 1.85% of the stock is currently owned by insiders.
A number of equities analysts have weighed in on BMRN shares. JPMorgan Chase dropped their price objective on shares of BioMarin Pharmaceutical from $131.00 to $129.00 and set an “outperform” rating for the company in a research report on Wednesday, January 24th. BidaskClub lowered shares of BioMarin Pharmaceutical from a “sell” rating to a “strong sell” rating in a report on Saturday, January 20th. Zacks Investment Research raised shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $101.00 price target for the company in a report on Tuesday, January 16th. Royal Bank of Canada reaffirmed a “hold” rating and set a $94.00 price target on shares of BioMarin Pharmaceutical in a report on Tuesday, February 27th. Finally, Morgan Stanley decreased their price objective on shares of BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating for the company in a report on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $112.34.
Shares of BMRN traded down $2.69 during mid-day trading on Friday, hitting $76.01. The company’s stock had a trading volume of 1,288,573 shares, compared to its average volume of 1,210,768. The stock has a market capitalization of $13,383.23, a P/E ratio of -113.45 and a beta of 1.69. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.70 and a quick ratio of 2.12. BioMarin Pharmaceutical Inc. has a fifty-two week low of $75.81 and a fifty-two week high of $100.51.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Thursday, February 22nd. The biotechnology company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.06). The firm had revenue of $358.31 million during the quarter, compared to analysts’ expectations of $346.24 million. BioMarin Pharmaceutical had a negative return on equity of 3.18% and a negative net margin of 8.91%. equities research analysts forecast that BioMarin Pharmaceutical Inc. will post -0.16 EPS for the current fiscal year.
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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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