Point72 Asset Management L.P. lowered its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 74.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 64,673 shares of the biotechnology company’s stock after selling 186,973 shares during the period. Point72 Asset Management L.P.’s holdings in BioMarin Pharmaceutical were worth $4,359,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in BMRN. Jacobs Levy Equity Management Inc. grew its stake in BioMarin Pharmaceutical by 66.3% during the second quarter. Jacobs Levy Equity Management Inc. now owns 104,970 shares of the biotechnology company’s stock worth $8,991,000 after purchasing an additional 41,856 shares during the period. Janus Henderson Group PLC grew its stake in BioMarin Pharmaceutical by 21.8% in the second quarter. Janus Henderson Group PLC now owns 55,613 shares of the biotechnology company’s stock valued at $4,764,000 after acquiring an additional 9,953 shares during the period. National Asset Management Inc. bought a new stake in shares of BioMarin Pharmaceutical during the second quarter valued at approximately $261,000. Comerica Bank raised its position in shares of BioMarin Pharmaceutical by 6.3% during the second quarter. Comerica Bank now owns 13,471 shares of the biotechnology company’s stock worth $1,111,000 after purchasing an additional 797 shares during the period. Finally, AXA lifted its holdings in shares of BioMarin Pharmaceutical by 1.0% in the 2nd quarter. AXA now owns 335,860 shares of the biotechnology company’s stock worth $28,766,000 after purchasing an additional 3,433 shares in the last quarter. 95.51% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently issued reports on BMRN. Zacks Investment Research downgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating and set a $79.00 price target for the company. in a research report on Wednesday, November 6th. Barclays upgraded shares of BioMarin Pharmaceutical from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $86.00 to $98.00 in a report on Wednesday, November 27th. Canaccord Genuity dropped their price objective on shares of BioMarin Pharmaceutical from $117.00 to $108.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Piper Jaffray Companies set a $120.00 target price on shares of BioMarin Pharmaceutical and gave the stock a “buy” rating in a research report on Friday, September 13th. Finally, Cantor Fitzgerald set a $129.00 target price on shares of BioMarin Pharmaceutical and gave the stock a “buy” rating in a report on Monday, October 21st. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $107.67.
In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 3,190 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $79.66, for a total transaction of $254,115.40. Following the sale, the executive vice president now owns 68,709 shares in the company, valued at $5,473,358.94. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jean Jacques Bienaime sold 5,000 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $69.55, for a total value of $347,750.00. Following the completion of the transaction, the chief executive officer now directly owns 332,520 shares of the company’s stock, valued at $23,126,766. The disclosure for this sale can be found here. Insiders have sold 21,940 shares of company stock valued at $1,657,128 in the last quarter. Company insiders own 1.97% of the company’s stock.
BMRN stock opened at $79.86 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.53 and a current ratio of 3.77. The company has a market capitalization of $14.50 billion, a price-to-earnings ratio of -242.00, a PEG ratio of 125.07 and a beta of 1.31. BioMarin Pharmaceutical Inc. has a fifty-two week low of $62.88 and a fifty-two week high of $100.13. The stock has a fifty day moving average of $74.20 and a 200-day moving average of $77.49.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Wednesday, October 23rd. The biotechnology company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.25. The company had revenue of $461.10 million during the quarter, compared to analyst estimates of $455.78 million. BioMarin Pharmaceutical had a negative return on equity of 1.35% and a negative net margin of 2.65%. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.07) EPS. Equities analysts predict that BioMarin Pharmaceutical Inc. will post 0.01 EPS for the current year.
BioMarin Pharmaceutical Company 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 to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.
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