CWM Advisors LLC raised its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 11.2% in the fourth quarter, HoldingsChannel reports. The firm owned 6,380 shares of the biotechnology company’s stock after acquiring an additional 643 shares during the period. CWM Advisors LLC’s holdings in BioMarin Pharmaceutical were worth $539,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. North Star Investment Management Corp. bought a new position in shares of BioMarin Pharmaceutical during the 3rd quarter worth $25,000. Usca Ria LLC purchased a new position in shares of BioMarin Pharmaceutical during the third quarter valued at $26,000. Meeder Asset Management Inc. raised its holdings in shares of BioMarin Pharmaceutical by 73.6% in the third quarter. Meeder Asset Management Inc. now owns 408 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 173 shares in the last quarter. Allred Capital Management LLC bought a new stake in shares of BioMarin Pharmaceutical in the fourth quarter valued at about $51,000. Finally, Vista Private Wealth Partners. LLC purchased a new stake in BioMarin Pharmaceutical in the third quarter worth about $52,000. 95.91% of the stock is owned by institutional investors and hedge funds.
In other BioMarin Pharmaceutical news, Director V Bryan Lawlis sold 3,750 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $83.36, for a total value of $312,600.00. Following the completion of the sale, the director now directly owns 27,340 shares in the company, valued at $2,279,062.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jean Jacques Bienaime sold 8,000 shares of the stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $87.95, for a total value of $703,600.00. Following the completion of the sale, the chief executive officer now owns 335,530 shares of the company’s stock, valued at $29,509,863.50. The disclosure for this sale can be found here. Insiders have sold 32,940 shares of company stock valued at $2,730,495 in the last three months. 1.90% of the stock is currently owned by corporate insiders.
Several research analysts have issued reports on BMRN shares. Citigroup reiterated a “buy” rating and set a $95.00 target price (down from $120.00) on shares of BioMarin Pharmaceutical in a report on Wednesday, October 30th. Nomura reduced their price target on shares of BioMarin Pharmaceutical from $93.00 to $77.00 in a report on Thursday, October 24th. Canaccord Genuity lowered their price target on shares of BioMarin Pharmaceutical from $117.00 to $108.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Bank of America reiterated a “buy” rating and set a $90.00 price objective on shares of BioMarin Pharmaceutical in a research note on Wednesday, December 11th. Finally, SunTrust Banks began coverage on shares of BioMarin Pharmaceutical in a report on Tuesday, November 12th. They set a “buy” rating and a $110.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the company’s stock. BioMarin Pharmaceutical presently has a consensus rating of “Buy” and an average target price of $111.65.
NASDAQ:BMRN opened at $86.15 on Friday. The company’s 50-day simple moving average is $85.03 and its 200-day simple moving average is $77.52. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.53 and a current ratio of 3.77. BioMarin Pharmaceutical Inc. has a fifty-two week low of $62.88 and a fifty-two week high of $100.13. The stock has a market capitalization of $15.48 billion, a P/E ratio of -331.35 and a beta of 1.32.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Wednesday, October 23rd. The biotechnology company reported $0.31 EPS for the quarter, topping 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 firm had revenue of $461.10 million during the quarter, compared to analyst estimates of $455.78 million. During the same quarter in the previous year, the business posted ($0.07) EPS. BioMarin Pharmaceutical’s revenue was up 17.7% on a year-over-year basis. On average, research analysts forecast that BioMarin Pharmaceutical Inc. will post 0.01 EPS for the current year.
About BioMarin Pharmaceutical
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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