Cerity Partners LLC Invests $273,000 in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Cerity Partners LLC purchased a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRNGet Rating) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,296 shares of the biotechnology company’s stock, valued at approximately $273,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in BioMarin Pharmaceutical by 7.7% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 53,503 shares of the biotechnology company’s stock worth $4,434,000 after purchasing an additional 3,832 shares in the last quarter. Hancock Whitney Corp purchased a new stake in BioMarin Pharmaceutical in the 2nd quarter valued at about $208,000. Assenagon Asset Management S.A. grew its holdings in BioMarin Pharmaceutical by 373.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 239,236 shares of the biotechnology company’s stock valued at $19,825,000 after buying an additional 188,671 shares during the period. Swiss National Bank grew its holdings in BioMarin Pharmaceutical by 14.1% in the 1st quarter. Swiss National Bank now owns 795,198 shares of the biotechnology company’s stock valued at $61,310,000 after buying an additional 98,300 shares during the period. Finally, Keybank National Association OH grew its holdings in shares of BioMarin Pharmaceutical by 23.5% during the 2nd quarter. Keybank National Association OH now owns 470,240 shares of the biotechnology company’s stock worth $38,969,000 after purchasing an additional 89,340 shares during the period. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Insider Activity

In other news, CEO Jean Jacques Bienaime sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $86.55, for a total value of $129,825.00. Following the completion of the sale, the chief executive officer now directly owns 322,824 shares in the company, valued at approximately $27,940,417.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Mark J. Alles acquired 3,625 shares of the stock in a transaction that occurred on Monday, October 31st. The stock was purchased at an average cost of $86.75 per share, for a total transaction of $314,468.75. Following the purchase, the director now directly owns 10,905 shares in the company, valued at $946,008.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jean Jacques Bienaime sold 1,500 shares of the company’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $86.55, for a total value of $129,825.00. Following the transaction, the chief executive officer now owns 322,824 shares of the company’s stock, valued at $27,940,417.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,500 shares of company stock worth $747,745. 1.75% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on BioMarin Pharmaceutical from $140.00 to $112.00 and set an “overweight” rating for the company in a report on Monday, October 24th. Oppenheimer upgraded BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $92.00 to $110.00 in a report on Monday, October 31st. Morgan Stanley boosted their target price on BioMarin Pharmaceutical from $111.00 to $113.00 and gave the stock an “overweight” rating in a report on Thursday, October 27th. StockNews.com assumed coverage on BioMarin Pharmaceutical in a report on Wednesday, October 12th. They set a “buy” rating for the company. Finally, Cantor Fitzgerald boosted their target price on BioMarin Pharmaceutical from $110.00 to $115.00 in a report on Wednesday, October 12th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus price target of $111.67.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $88.51 on Tuesday. The business’s 50 day moving average is $86.62 and its two-hundred day moving average is $85.45. BioMarin Pharmaceutical Inc. has a 52-week low of $70.73 and a 52-week high of $97.76. The firm has a market cap of $16.42 billion, a price-to-earnings ratio of 210.74, a PEG ratio of 2.00 and a beta of 0.34. The company has a quick ratio of 3.54, a current ratio of 5.15 and a debt-to-equity ratio of 0.24.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Rating) last announced its earnings results on Wednesday, October 26th. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.41). BioMarin Pharmaceutical had a net margin of 4.18% and a return on equity of 2.50%. The business had revenue of $505.30 million during the quarter, compared to analyst estimates of $516.03 million. During the same period in the previous year, the company earned ($0.03) earnings per share. The business’s revenue for the quarter was up 23.6% on a year-over-year basis. Analysts forecast that BioMarin Pharmaceutical Inc. will post 0.88 EPS for the current fiscal year.

BioMarin Pharmaceutical Company Profile

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BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; 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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Institutional Ownership by Quarter for BioMarin Pharmaceutical (NASDAQ:BMRN)

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