Profund Advisors LLC lowered its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 10.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,573 shares of the biotechnology company’s stock after selling 8,176 shares during the period. Profund Advisors LLC’s holdings in BioMarin Pharmaceutical were worth $6,561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also modified their holdings of BMRN. First Manhattan Co. grew its stake in shares of 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 during the last quarter. Financial Gravity Companies Inc. acquired a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at approximately $112,000. Commerce Bank acquired a new position in BioMarin Pharmaceutical during the third quarter worth $209,000. IFG Advisory LLC acquired a new position in BioMarin Pharmaceutical during the fourth quarter worth $212,000. Finally, Teacher Retirement System of Texas acquired a new position in BioMarin Pharmaceutical during the third quarter worth $220,000.
In other news, EVP George Eric Davis sold 30,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $90.66, for a total value of $2,719,800.00. Following the sale, the executive vice president now directly owns 112,942 shares of the company’s stock, valued at approximately $10,239,321.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Elaine J. Heron sold 800 shares of the company’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $88.90, for a total transaction of $71,120.00. Following the completion of the transaction, the director now owns 38,385 shares in the company, valued at approximately $3,412,426.50. The disclosure for this sale can be found here. Insiders sold a total of 104,627 shares of company stock valued at $9,314,362 in the last three months. 1.85% of the stock is owned by company insiders.
A number of research firms have recently weighed in on BMRN. Wedbush reissued an “outperform” rating and issued a $110.00 price target on shares of BioMarin Pharmaceutical in a report on Monday. Leerink Swann lowered their price target on BioMarin Pharmaceutical from $142.00 to $132.00 and set an “outperform” rating for the company in a research report on Friday, February 23rd. SunTrust Banks upped their target price on BioMarin Pharmaceutical to $130.00 and gave the stock a “buy” rating in a research report on Monday, December 11th. Zacks Investment Research downgraded BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Wednesday, January 17th. Finally, Deutsche Bank set a $124.00 price target on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research note on Friday, February 23rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $112.34.
BioMarin Pharmaceutical Inc. (BMRN) traded down $0.21 during mid-day trading on Wednesday, reaching $85.95. The company had a trading volume of 883,897 shares, compared to its average volume of 1,360,647. The firm has a market capitalization of $15,130.00, a P/E ratio of -94.23 and a beta of 1.73. The company has a current ratio of 2.70, a quick ratio of 2.12 and a debt-to-equity ratio of 0.29. BioMarin Pharmaceutical Inc. has a fifty-two week low of $77.04 and a fifty-two week high of $100.51.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its 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 during the quarter, compared to the consensus estimate of $346.24 million. BioMarin Pharmaceutical had a negative net margin of 8.91% and a negative return on equity of 3.18%. research analysts predict that BioMarin Pharmaceutical Inc. will post -0.67 EPS for the current fiscal year.
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BioMarin Pharmaceutical Company Profile
BioMarin Pharmaceutical Inc is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A).
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