Private Advisor Group LLC lessened its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 12.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 5,209 shares of the biotechnology company’s stock after selling 718 shares during the period. Private Advisor Group LLC’s holdings in BioMarin Pharmaceutical were worth $468,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in BMRN. Nationwide Fund Advisors lifted its position in shares of BioMarin Pharmaceutical by 3.4% during the 1st quarter. Nationwide Fund Advisors now owns 30,800 shares of the biotechnology company’s stock valued at $2,704,000 after acquiring an additional 1,000 shares during the last quarter. Comerica Bank lifted its position in shares of BioMarin Pharmaceutical by 2.6% during the 1st quarter. Comerica Bank now owns 7,282 shares of the biotechnology company’s stock valued at $701,000 after acquiring an additional 183 shares during the last quarter. World Asset Management Inc lifted its position in shares of BioMarin Pharmaceutical by 27.8% during the 1st quarter. World Asset Management Inc now owns 7,709 shares of the biotechnology company’s stock valued at $677,000 after acquiring an additional 1,679 shares during the last quarter. UBS Asset Management Americas Inc. lifted its position in shares of BioMarin Pharmaceutical by 11.3% during the 1st quarter. UBS Asset Management Americas Inc. now owns 1,087,995 shares of the biotechnology company’s stock valued at $95,504,000 after acquiring an additional 110,504 shares during the last quarter. Finally, Gabelli Funds LLC acquired a new stake in shares of BioMarin Pharmaceutical during the 1st quarter valued at $851,000. Institutional investors own 97.42% of the company’s stock.
In related news, insider Henry J. Fuchs sold 15,000 shares of the company’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $90.00, for a total value of $1,350,000.00. Following the transaction, the insider now owns 141,422 shares in the company, valued at approximately $12,727,980. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP George Eric Davis sold 9,844 shares of the company’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $96.60, for a total transaction of $950,930.40. Following the completion of the transaction, the executive vice president now owns 93,425 shares in the company, valued at approximately $9,024,855. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,515 shares of company stock worth $2,568,030. Company insiders own 2.50% of the company’s stock.
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BioMarin Pharmaceutical Inc. (BMRN) opened at 91.91 on Friday. BioMarin Pharmaceutical Inc. has a 12 month low of $78.42 and a 12 month high of $101.27. The firm has a 50-day moving average of $86.49 and a 200 day moving average of $89.56. The firm’s market capitalization is $16.11 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.01. The business had revenue of $317.50 million for the quarter, compared to the consensus estimate of $311.41 million. BioMarin Pharmaceutical had a negative net margin of 15.54% and a negative return on equity of 5.77%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($2.61) EPS. Equities research analysts forecast that BioMarin Pharmaceutical Inc. will post ($0.71) earnings per share for the current year.
A number of equities research analysts have recently commented on the company. Deutsche Bank AG reiterated a “buy” rating and set a $119.00 price objective (up previously from $118.00) on shares of BioMarin Pharmaceutical in a research report on Wednesday, August 9th. BMO Capital Markets reiterated a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Friday. Wedbush reiterated a “neutral” rating and set a $108.00 price objective on shares of BioMarin Pharmaceutical in a research report on Monday, August 7th. UBS AG reissued a “neutral” rating and set a $93.00 target price (up from $92.00) on shares of BioMarin Pharmaceutical in a research note on Thursday, August 3rd. Finally, Royal Bank Of Canada initiated coverage on shares of BioMarin Pharmaceutical in a research note on Thursday. They set a “sector perform” rating and a $93.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $109.09.
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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