Thrivent Financial For Lutherans increased its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 16.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 170,905 shares of the biotechnology company’s stock after purchasing an additional 23,760 shares during the quarter. Thrivent Financial For Lutherans owned 0.10% of BioMarin Pharmaceutical worth $15,521,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its holdings in BioMarin Pharmaceutical by 4.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 43,456 shares of the biotechnology company’s stock worth $3,946,000 after purchasing an additional 1,900 shares during the period. ProShare Advisors LLC raised its holdings in BioMarin Pharmaceutical by 5.4% in the 2nd quarter. ProShare Advisors LLC now owns 143,073 shares of the biotechnology company’s stock worth $12,994,000 after purchasing an additional 7,373 shares during the period. Stevens Capital Management LP raised its holdings in BioMarin Pharmaceutical by 378.5% in the 2nd quarter. Stevens Capital Management LP now owns 24,166 shares of the biotechnology company’s stock worth $2,195,000 after purchasing an additional 19,116 shares during the period. BT Investment Management Ltd acquired a new position in BioMarin Pharmaceutical in the 2nd quarter worth about $600,000. Finally, Amalgamated Bank raised its holdings in BioMarin Pharmaceutical by 74.7% in the 2nd quarter. Amalgamated Bank now owns 17,842 shares of the biotechnology company’s stock worth $1,620,000 after purchasing an additional 7,628 shares during the period. 97.46% of the stock is owned by institutional investors.
BioMarin Pharmaceutical Inc. (BMRN) opened at 92.57 on Thursday. BioMarin Pharmaceutical Inc. has a 1-year low of $78.42 and a 1-year high of $100.51. The firm’s 50-day moving average price is $86.72 and its 200-day moving average price is $89.48. The firm’s market capitalization is $16.22 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.01. BioMarin Pharmaceutical had a negative net margin of 15.54% and a negative return on equity of 5.77%. The company had revenue of $317.50 million during the quarter, compared to analysts’ expectations of $311.41 million. During the same period in the previous year, the company earned ($2.61) EPS. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, equities research analysts predict that BioMarin Pharmaceutical Inc. will post ($0.71) EPS for the current fiscal year.
In related news, Director V Bryan Lawlis sold 3,750 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $91.26, for a total transaction of $342,225.00. Following the completion of the sale, the director now directly owns 19,660 shares of the company’s stock, valued at approximately $1,794,171.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP George Eric Davis sold 9,844 shares of the company’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $96.60, for a total transaction of $950,930.40. Following the sale, the executive vice president now directly owns 93,425 shares of the company’s stock, valued at $9,024,855. The disclosure for this sale can be found here. Insiders have sold a total of 28,594 shares of company stock valued at $2,650,655 over the last three months. Corporate insiders own 2.50% of the company’s stock.
A number of equities analysts recently weighed in on BMRN shares. Leerink Swann reaffirmed a “buy” rating on shares of BioMarin Pharmaceutical in a report on Tuesday, July 18th. Zacks Investment Research upgraded BioMarin Pharmaceutical from a “hold” rating to a “strong-buy” rating and set a $105.00 price objective for the company in a research note on Monday, July 17th. Citigroup Inc. initiated coverage on BioMarin Pharmaceutical in a research note on Thursday, August 31st. They set a “buy” rating and a $98.00 price objective for the company. Cowen and Company reiterated a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, July 11th. Finally, BidaskClub lowered BioMarin Pharmaceutical from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the company’s stock. BioMarin Pharmaceutical has an average rating of “Hold” and an average target price of $109.09.
About BioMarin Pharmaceutical
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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