Virtu Financial LLC acquired a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 7,759 shares of the biotechnology company’s stock, valued at approximately $523,000.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in BioMarin Pharmaceutical by 1.6% during the second quarter. Vanguard Group Inc. now owns 15,957,672 shares of the biotechnology company’s stock worth $1,366,775,000 after purchasing an additional 247,798 shares in the last quarter. Primecap Management Co. CA raised its holdings in BioMarin Pharmaceutical by 0.7% during the second quarter. Primecap Management Co. CA now owns 14,283,753 shares of the biotechnology company’s stock worth $1,223,403,000 after purchasing an additional 92,880 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in BioMarin Pharmaceutical during the second quarter worth approximately $258,055,000. Northern Trust Corp raised its holdings in BioMarin Pharmaceutical by 1.2% during the second quarter. Northern Trust Corp now owns 1,216,263 shares of the biotechnology company’s stock worth $104,174,000 after purchasing an additional 13,949 shares in the last quarter. Finally, York Capital Management Global Advisors LLC bought a new stake in BioMarin Pharmaceutical during the second quarter worth approximately $95,648,000. Institutional investors and hedge funds own 95.51% of the company’s stock.
Shares of NASDAQ:BMRN opened at $79.86 on Tuesday. The company’s fifty day moving average is $74.20 and its two-hundred day moving average is $77.49. The company has a quick ratio of 2.53, a current ratio of 3.77 and a debt-to-equity ratio of 0.27. BioMarin Pharmaceutical Inc. has a 12-month low of $62.88 and a 12-month high of $100.13. The company has a market cap of $14.34 billion, a P/E ratio of -242.00, a price-to-earnings-growth ratio of 125.07 and a beta of 1.31.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Wednesday, October 23rd. The biotechnology company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.25. BioMarin Pharmaceutical had a negative net margin of 2.65% and a negative return on equity of 1.35%. The company had revenue of $461.10 million for the quarter, compared to the consensus estimate of $455.78 million. During the same period in the previous year, the business earned ($0.07) EPS. The company’s revenue was up 17.7% on a year-over-year basis. Equities research analysts anticipate that BioMarin Pharmaceutical Inc. will post 0.01 earnings per share for the current year.
In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 5,000 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $69.55, for a total transaction of $347,750.00. Following the sale, the chief executive officer now directly owns 332,520 shares of the company’s stock, valued at approximately $23,126,766. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director V Bryan Lawlis sold 3,750 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $74.47, for a total transaction of $279,262.50. Following the sale, the director now directly owns 27,340 shares in the company, valued at $2,036,009.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,940 shares of company stock worth $1,657,128. Company insiders own 1.97% of the company’s stock.
Several equities research analysts recently commented on the company. Stifel Nicolaus set a $108.00 target price on BioMarin Pharmaceutical and gave the stock a “buy” rating in a report on Friday, September 13th. Zacks Investment Research cut BioMarin Pharmaceutical from a “buy” rating to a “hold” rating and set a $79.00 price target on the stock. in a report on Wednesday, November 6th. Barclays raised BioMarin Pharmaceutical from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $86.00 to $98.00 in a report on Wednesday, November 27th. Piper Jaffray Companies set a $120.00 price target on BioMarin Pharmaceutical and gave the company a “buy” rating in a report on Friday, September 13th. Finally, William Blair reaffirmed a “buy” rating on shares of BioMarin Pharmaceutical in a report on Friday, November 15th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $107.67.
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 to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; 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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