Corient Capital Partners LLC lifted its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Get Rating) by 20.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,126 shares of the biotechnology company's stock after purchasing an additional 530 shares during the quarter. Corient Capital Partners LLC's holdings in BioMarin Pharmaceutical were worth $259,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. Acadian Asset Management LLC lifted its position in shares of BioMarin Pharmaceutical by 395.4% during the 1st quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company's stock worth $32,000 after buying an additional 344 shares during the last quarter. First Horizon Advisors Inc. lifted its position in shares of BioMarin Pharmaceutical by 1,014.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 535 shares of the biotechnology company's stock worth $43,000 after buying an additional 487 shares during the last quarter. Covington Capital Management lifted its position in shares of BioMarin Pharmaceutical by 40.8% during the 2nd quarter. Covington Capital Management now owns 704 shares of the biotechnology company's stock worth $58,000 after buying an additional 204 shares during the last quarter. CWM LLC lifted its position in shares of BioMarin Pharmaceutical by 60.4% during the 2nd quarter. CWM LLC now owns 781 shares of the biotechnology company's stock worth $65,000 after buying an additional 294 shares during the last quarter. Finally, Desjardins Global Asset Management Inc. lifted its position in shares of BioMarin Pharmaceutical by 43.2% during the 2nd quarter. Desjardins Global Asset Management Inc. now owns 815 shares of the biotechnology company's stock worth $67,000 after buying an additional 246 shares during the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.
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BioMarin Pharmaceutical Trading Down 0.9 %
Shares of BioMarin Pharmaceutical stock opened at $96.92 on Friday. BioMarin Pharmaceutical Inc. has a 52 week low of $70.73 and a 52 week high of $99.74. The stock has a market capitalization of $17.98 billion, a PE ratio of 230.76, a price-to-earnings-growth ratio of 2.21 and a beta of 0.34. The stock has a 50 day moving average price of $87.30 and a two-hundred day moving average price of $85.90. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.54 and a current ratio of 5.15.
BioMarin Pharmaceutical (NASDAQ:BMRN – Get Rating) last announced its earnings results on Wednesday, October 26th. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.41). BioMarin Pharmaceutical had a return on equity of 2.50% and a net
margin of 4.18%. The firm had revenue of $505.30 million during the quarter, compared to the consensus estimate of $516.03 million. During the same period in the prior year, the company posted ($0.03) EPS. The firm's revenue was up 23.6% on a year-over-year basis. As a group, equities analysts anticipate that BioMarin Pharmaceutical Inc. will post 0.88 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several equities analysts have commented on BMRN shares. JPMorgan Chase & Co. dropped their target price on BioMarin Pharmaceutical from $140.00 to $112.00 and set an "overweight" rating for the company in a research report on Monday, October 24th. Barclays increased their target price on BioMarin Pharmaceutical from $112.00 to $125.00 and gave the company an "overweight" rating in a research report on Thursday, August 4th. SVB Leerink increased their target price on BioMarin Pharmaceutical from $115.00 to $122.00 and gave the company an "outperform" rating in a research report on Thursday, August 4th. Cantor Fitzgerald raised their price objective on BioMarin Pharmaceutical from $110.00 to $115.00 in a research report on Wednesday, October 12th. Finally, Royal Bank of Canada raised their price objective on BioMarin Pharmaceutical from $90.00 to $95.00 and gave the stock a "sector perform" rating in a research report on Thursday, October 13th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of "Moderate Buy" and an average target price of $111.07.
Insider Buying and Selling
In related news, Director Mark J. Alles purchased 3,625 shares of the business's stock in a transaction that occurred on Monday, October 31st. The shares were bought at an average price of $86.75 per share, for a total transaction of $314,468.75. Following the purchase, the director now directly owns 10,905 shares of the company's stock, valued at approximately $946,008.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Mark J. Alles purchased 3,625 shares of the business's stock in a transaction that occurred on Monday, October 31st. The shares were bought at an average price of $86.75 per share, for a total transaction of $314,468.75. Following the purchase, the director now directly owns 10,905 shares of the company's stock, valued at approximately $946,008.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jean Jacques Bienaime sold 1,500 shares of the company's stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $86.55, for a total value of $129,825.00. Following the completion of the sale, the chief executive officer now owns 322,824 shares in the company, valued at approximately $27,940,417.20. The disclosure for this sale can be found here. Insiders have sold 8,500 shares of company stock worth $747,745 in the last 90 days. Insiders own 1.75% of the company's stock.
BioMarin Pharmaceutical Company Profile
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BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; 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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