Rhumbline Advisers lowered its stake in BioMarin Pharmaceutical (NASDAQ:BMRN) by 3.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,293 shares of the biotechnology company’s stock after selling 6,223 shares during the period. Rhumbline Advisers’ holdings in BioMarin Pharmaceutical were worth $16,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. First Manhattan Co. raised its position in BioMarin Pharmaceutical by 104.2% in the 4th 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 in the last quarter. Financial Gravity Companies Inc. acquired a new stake in BioMarin Pharmaceutical in the 4th quarter valued at about $112,000. IFG Advisory LLC acquired a new stake in BioMarin Pharmaceutical in the 4th quarter valued at about $212,000. Redmile Group LLC acquired a new stake in BioMarin Pharmaceutical in the 4th quarter valued at about $223,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in BioMarin Pharmaceutical in the 4th quarter valued at about $224,000.
In other BioMarin Pharmaceutical news, EVP Jeffrey Robert Ajer sold 309 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $85.96, for a total value of $26,561.64. Following the transaction, the executive vice president now directly owns 53,223 shares in the company, valued at approximately $4,575,049.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jean Jacques Bienaime sold 20,000 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Tuesday, April 24th. The shares were sold at an average price of $82.43, for a total value of $1,648,600.00. Following the completion of the transaction, the chief executive officer now owns 300,031 shares in the company, valued at $24,731,555.33. The disclosure for this sale can be found here. Insiders have sold a total of 100,387 shares of company stock worth $8,320,110 in the last 90 days. 1.90% of the stock is currently owned by company insiders.
A number of equities research analysts have issued reports on the company. ValuEngine raised BioMarin Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Friday. BidaskClub raised BioMarin Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Tuesday. Leerink Swann raised their target price on BioMarin Pharmaceutical from $132.00 to $145.00 and gave the stock an “outperform” rating in a research report on Monday, May 7th. Morgan Stanley raised their target price on BioMarin Pharmaceutical from $112.00 to $113.00 and gave the stock an “overweight” rating in a research report on Monday, April 30th. Finally, Wedbush cut their target price on BioMarin Pharmaceutical from $112.00 to $110.00 and set an “outperform” rating on the stock in a research report on Monday, April 30th. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. BioMarin Pharmaceutical currently has a consensus rating of “Buy” and an average price target of $113.50.
BioMarin Pharmaceutical opened at $88.41 on Friday, MarketBeat reports. The company has a market cap of $15.63 billion, a P/E ratio of -131.96 and a beta of 1.68. The company has a current ratio of 2.90, a quick ratio of 2.29 and a debt-to-equity ratio of 0.29. BioMarin Pharmaceutical has a 52-week low of $87.62 and a 52-week high of $89.80.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.06). The firm had revenue of $358.31 million for the quarter, compared to analysts’ expectations of $346.24 million. BioMarin Pharmaceutical had a negative return on equity of 3.01% and a negative net margin of 10.48%. research analysts expect that BioMarin Pharmaceutical will post -0.12 EPS for the current fiscal year.
BioMarin Pharmaceutical Profile
BioMarin Pharmaceutical, Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme that is used for the treatment of patients with mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Firdapse for Lambert Eaton Myasthenic Syndrome.
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