DnB Asset Management AS lifted its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Free Report) by 11.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 688,565 shares of the biotechnology company’s stock after buying an additional 70,318 shares during the quarter. DnB Asset Management AS owned approximately 0.37% of BioMarin Pharmaceutical worth $59,685,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also made changes to their positions in BMRN. Grey Fox Wealth Advisors LLC bought a new position in BioMarin Pharmaceutical during the 4th quarter worth approximately $31,000. ICA Group Wealth Management LLC acquired a new stake in shares of BioMarin Pharmaceutical during the 4th quarter valued at approximately $31,000. Acadian Asset Management LLC lifted its stake in BioMarin Pharmaceutical by 395.4% during the first quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 344 shares during the last quarter. Allworth Financial LP boosted its holdings in BioMarin Pharmaceutical by 57.5% in the first quarter. Allworth Financial LP now owns 356 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 130 shares during the period. Finally, MayTech Global Investments LLC bought a new stake in BioMarin Pharmaceutical during the fourth quarter valued at $36,000. Institutional investors and hedge funds own 92.78% of the company’s stock.
Analyst Upgrades and Downgrades
BMRN has been the topic of a number of recent research reports. Stifel Nicolaus reduced their price target on shares of BioMarin Pharmaceutical from $118.00 to $108.00 and set a “buy” rating on the stock in a research report on Tuesday, August 1st. Wedbush decreased their target price on BioMarin Pharmaceutical from $73.00 to $70.00 and set a “neutral” rating for the company in a research note on Tuesday, August 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $120.00 target price on shares of BioMarin Pharmaceutical in a report on Wednesday. Robert W. Baird reissued an “outperform” rating and issued a $127.00 price target on shares of BioMarin Pharmaceutical in a report on Friday, June 30th. Finally, 500.com restated a “reiterates” rating on shares of BioMarin Pharmaceutical in a research note on Friday, June 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $115.00.
Insider Buying and Selling
In other news, insider Henry J. Fuchs sold 12,000 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $90.43, for a total value of $1,085,160.00. Following the completion of the sale, the insider now owns 176,187 shares in the company, valued at $15,932,590.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other BioMarin Pharmaceutical news, EVP Jeffrey Robert Ajer sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $90.00, for a total value of $450,000.00. Following the transaction, the executive vice president now owns 60,804 shares in the company, valued at approximately $5,472,360. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Henry J. Fuchs sold 12,000 shares of BioMarin Pharmaceutical stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $90.43, for a total transaction of $1,085,160.00. Following the sale, the insider now directly owns 176,187 shares of the company’s stock, valued at approximately $15,932,590.41. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,000 shares of company stock valued at $2,871,180. Company insiders own 1.84% of the company’s stock.
BioMarin Pharmaceutical Price Performance
BMRN stock traded down $0.73 during trading hours on Thursday, hitting $90.89. 153,914 shares of the stock traded hands, compared to its average volume of 1,291,671. The company has a current ratio of 4.94, a quick ratio of 3.31 and a debt-to-equity ratio of 0.23. The stock has a 50-day simple moving average of $89.36 and a 200 day simple moving average of $92.27. BioMarin Pharmaceutical Inc. has a one year low of $80.53 and a one year high of $117.77. The company has a market cap of $17.10 billion, a P/E ratio of 176.19 and a beta of 0.36.
BioMarin Pharmaceutical (NASDAQ:BMRN – Get Free Report) last posted its quarterly earnings data on Monday, July 31st. The biotechnology company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.10. BioMarin Pharmaceutical had a return on equity of 4.03% and a net margin of 4.47%. The firm had revenue of $595.28 million for the quarter, compared to the consensus estimate of $591.46 million. Equities analysts forecast that BioMarin Pharmaceutical Inc. will post 1.25 earnings per share for the current year.
BioMarin Pharmaceutical Company Profile
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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