Daiwa Securities Group Inc. Grows Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Daiwa Securities Group Inc. boosted its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 7.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 18,006 shares of the biotechnology company’s stock after buying an additional 1,185 shares during the quarter. Daiwa Securities Group Inc.’s holdings in BioMarin Pharmaceutical were worth $1,266,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Alpha DNA Investment Management LLC bought a new position in BioMarin Pharmaceutical in the 3rd quarter valued at $465,000. Swedbank AB grew its position in BioMarin Pharmaceutical by 34.7% in the 3rd quarter. Swedbank AB now owns 388,529 shares of the biotechnology company’s stock valued at $27,310,000 after acquiring an additional 100,000 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in BioMarin Pharmaceutical by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,401,628 shares of the biotechnology company’s stock valued at $98,520,000 after acquiring an additional 55,699 shares during the last quarter. Primecap Management Co. CA grew its position in BioMarin Pharmaceutical by 0.4% in the 3rd quarter. Primecap Management Co. CA now owns 18,867,435 shares of the biotechnology company’s stock valued at $1,326,192,000 after acquiring an additional 77,350 shares during the last quarter. Finally, King Luther Capital Management Corp bought a new position in BioMarin Pharmaceutical in the 3rd quarter valued at $2,027,000. Institutional investors own 98.71% of the company’s stock.

Insider Transactions at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 5,278 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total value of $350,300.86. Following the sale, the executive vice president now directly owns 68,909 shares of the company’s stock, valued at $4,573,490.33. The trade was a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Bank of America dropped their price target on BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Wedbush raised BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Monday, November 4th. William Blair downgraded BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Wells Fargo & Company dropped their price target on BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 17th. Finally, Wolfe Research assumed coverage on BioMarin Pharmaceutical in a research report on Friday, November 15th. They set an “outperform” rating and a $95.00 price target on the stock. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $94.20.

BioMarin Pharmaceutical Stock Up 0.9 %

Shares of BMRN opened at $66.03 on Friday. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 12 month low of $61.15 and a 12 month high of $99.56. The stock’s 50 day moving average is $67.72 and its two-hundred day moving average is $77.91. The firm has a market cap of $12.58 billion, a P/E ratio of 39.54, a PEG ratio of 0.64 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.23). The business had revenue of $746.00 million during the quarter, compared to analyst estimates of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The firm’s revenue for the quarter was up 28.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.26 earnings per share. Analysts predict that BioMarin Pharmaceutical Inc. will post 2.49 earnings per share for the current fiscal 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.