Great Lakes Advisors LLC cut its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Get Rating) by 38.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,798 shares of the biotechnology company's stock after selling 3,564 shares during the quarter. Great Lakes Advisors LLC's holdings in BioMarin Pharmaceutical were worth $447,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of BMRN. Norges Bank purchased a new stake in shares of BioMarin Pharmaceutical in the 4th quarter worth about $207,582,000. Adage Capital Partners GP L.L.C. grew its position in BioMarin Pharmaceutical by 372.7% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,865,000 shares of the biotechnology company's stock valued at $164,773,000 after purchasing an additional 1,470,498 shares during the last quarter. Perceptive Advisors LLC purchased a new stake in BioMarin Pharmaceutical during the 4th quarter valued at about $104,253,000. Jennison Associates LLC purchased a new stake in BioMarin Pharmaceutical during the 4th quarter valued at about $48,817,000. Finally, Fort Washington Investment Advisors Inc. OH grew its position in BioMarin Pharmaceutical by 93.2% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,143,631 shares of the biotechnology company's stock valued at $101,040,000 after purchasing an additional 551,729 shares during the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.
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Shares of NASDAQ:BMRN opened at $95.70 on Wednesday. The firm's 50 day moving average price is $83.51 and its 200-day moving average price is $82.34. BioMarin Pharmaceutical Inc. has a twelve month low of $70.73 and a twelve month high of $97.76. The company has a quick ratio of 3.69, a current ratio of 5.42 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $17.75 billion, a PE ratio of 368.09, a price-to-earnings-growth ratio of 1.97 and a beta of 0.33.
BioMarin Pharmaceutical (NASDAQ:BMRN – Get Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The biotechnology company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.04. BioMarin Pharmaceutical had a net margin of 2.83% and a return on equity of 1.78%. During the same period in the previous year, the firm posted $0.23 EPS. Equities research analysts expect that BioMarin Pharmaceutical Inc. will post 0.98 EPS for the current year.Insiders Place Their Bets
In other BioMarin Pharmaceutical news, CFO Brian Mueller sold 7,337 shares of the firm's stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $89.50, for a total transaction of $656,661.50. Following the sale, the chief financial officer now owns 30,726 shares in the company, valued at approximately $2,749,977. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 7,398 shares of the stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $90.00, for a total transaction of $665,820.00. Following the completion of the sale, the executive vice president now directly owns 58,941 shares of the company's stock, valued at approximately $5,304,690. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brian Mueller sold 7,337 shares of the stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $89.50, for a total transaction of $656,661.50. Following the sale, the chief financial officer now directly owns 30,726 shares of the company's stock, valued at $2,749,977. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,043 shares of company stock worth $1,425,735. Company insiders own 1.75% of the company's stock.
Analyst Ratings Changes
Several brokerages recently commented on BMRN. Barclays increased their price objective on shares of 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 price objective on shares of BioMarin Pharmaceutical from $115.00 to $122.00 and gave the company an "outperform" rating in a research report on Thursday, August 4th. Jefferies Financial Group reissued a "buy" rating and set a $100.00 price objective on shares of BioMarin Pharmaceutical in a research report on Wednesday, May 4th. Stifel Nicolaus reaffirmed a "buy" rating and set a $96.00 price target on shares of BioMarin Pharmaceutical in a report on Tuesday, May 3rd. Finally, Cantor Fitzgerald initiated coverage on shares of BioMarin Pharmaceutical in a report on Tuesday, July 12th. They set an "overweight" rating and a $110.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, BioMarin Pharmaceutical has an average rating of "Moderate Buy" and a consensus price target of $110.93.
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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