Legal & General Group Plc reduced its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 4.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 720,874 shares of the biotechnology company’s stock after selling 36,589 shares during the quarter. Legal & General Group Plc owned about 0.41% of BioMarin Pharmaceutical worth $58,441,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of BMRN. Thrivent Financial for Lutherans increased its stake in BioMarin Pharmaceutical by 581.0% in the 1st quarter. Thrivent Financial for Lutherans now owns 1,224,776 shares of the biotechnology company’s stock valued at $99,293,000 after purchasing an additional 1,044,921 shares in the last quarter. Carillon Tower Advisers Inc. purchased a new position in BioMarin Pharmaceutical in the 4th quarter valued at approximately $22,892,000. USS Investment Management Ltd increased its stake in BioMarin Pharmaceutical by 22.9% in the 1st quarter. USS Investment Management Ltd now owns 1,339,671 shares of the biotechnology company’s stock valued at $111,869,000 after purchasing an additional 249,738 shares in the last quarter. State of Wisconsin Investment Board increased its stake in BioMarin Pharmaceutical by 187.8% in the 1st quarter. State of Wisconsin Investment Board now owns 263,571 shares of the biotechnology company’s stock valued at $21,368,000 after purchasing an additional 171,994 shares in the last quarter. Finally, Millennium Management LLC increased its stake in BioMarin Pharmaceutical by 33.7% in the 4th quarter. Millennium Management LLC now owns 634,864 shares of the biotechnology company’s stock valued at $56,611,000 after purchasing an additional 160,132 shares in the last quarter.
Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Wednesday, June 20th. Zacks Investment Research downgraded BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Tuesday. Wedbush raised their price objective on BioMarin Pharmaceutical from $112.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, May 25th. ValuEngine raised BioMarin Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Monday, May 28th. Finally, Citigroup raised their price objective on BioMarin Pharmaceutical to $108.00 and gave the company a “buy” rating in a research note on Tuesday, May 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $112.50.
BioMarin Pharmaceutical stock opened at $91.72 on Thursday. The company has a quick ratio of 2.29, a current ratio of 2.90 and a debt-to-equity ratio of 0.29. The firm has a market cap of $16.57 billion, a price-to-earnings ratio of -136.90 and a beta of 1.71. BioMarin Pharmaceutical Inc. has a fifty-two week low of $75.81 and a fifty-two week high of $99.76.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Wednesday, April 25th. The biotechnology company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.08). The company had revenue of $373.45 million for the quarter, compared to analysts’ expectations of $348.73 million. BioMarin Pharmaceutical had a negative return on equity of 3.01% and a negative net margin of 10.48%. The business’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.20 EPS. research analysts anticipate that BioMarin Pharmaceutical Inc. will post -0.12 EPS for the current year.
In other BioMarin Pharmaceutical news, SVP Brian Mueller sold 3,145 shares of the firm’s stock in a transaction on Friday, June 22nd. The stock was sold at an average price of $99.50, for a total transaction of $312,927.50. Following the completion of the transaction, the senior vice president now owns 12,375 shares of the company’s stock, valued at $1,231,312.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jean Jacques Bienaime sold 10,000 shares of the firm’s stock in a transaction on Friday, April 20th. The stock was sold at an average price of $83.65, for a total value of $836,500.00. Following the transaction, the chief executive officer now directly owns 300,031 shares of the company’s stock, valued at approximately $25,097,593.15. The disclosure for this sale can be found here. Insiders have sold 189,238 shares of company stock valued at $16,679,081 in the last three months. 1.90% of the stock is currently owned by company insiders.
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 that is used for the treatment of patients with mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Firdapse for Lambert Eaton Myasthenic Syndrome.
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