Prudential Financial Inc. boosted its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 142,170 shares of the company’s stock after buying an additional 600 shares during the period. Prudential Financial Inc. owned about 0.09% of BioMarin Pharmaceutical worth $11,061,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMRN. Aperio Group LLC increased its stake in BioMarin Pharmaceutical by 39.7% in the first quarter. Aperio Group LLC now owns 44,657 shares of the company’s stock worth $3,683,000 after buying an additional 12,688 shares in the last quarter. Teachers Advisors Inc. increased its stake in BioMarin Pharmaceutical by 1.9% in the first quarter. Teachers Advisors Inc. now owns 555,319 shares of the company’s stock worth $45,803,000 after buying an additional 10,306 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new stake in BioMarin Pharmaceutical during the first quarter worth about $1,327,000. Aviva PLC increased its stake in BioMarin Pharmaceutical by 1.2% in the first quarter. Aviva PLC now owns 78,847 shares of the company’s stock worth $6,503,000 after buying an additional 924 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in BioMarin Pharmaceutical by 4.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,127 shares of the company’s stock worth $505,000 after buying an additional 282 shares in the last quarter. Hedge funds and other institutional investors own 93.02% of the company’s stock.
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) traded up 0.18% during midday trading on Tuesday, hitting $94.51. 111,980 shares of the stock were exchanged. BioMarin Pharmaceutical Inc. has a 12 month low of $62.12 and a 12 month high of $118.48. The firm’s 50 day moving average price is $95.46 and its 200 day moving average price is $89.02. The company’s market cap is $15.45 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($2.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.52) by $2.09. BioMarin Pharmaceutical had a negative net margin of 54.53% and a negative return on equity of 11.99%. The company had revenue of $300.10 million for the quarter, compared to the consensus estimate of $278.75 million. During the same quarter in the previous year, the business earned ($0.51) EPS. The company’s quarterly revenue was up 20.0% compared to the same quarter last year. On average, equities research analysts forecast that BioMarin Pharmaceutical Inc. will post ($3.95) earnings per share for the current fiscal year.
Several analysts have weighed in on BMRN shares. Leerink Swann reissued an “outperform” rating and issued a $127.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, September 16th. Cowen and Company set a $150.00 price target on shares of BioMarin Pharmaceutical and gave the stock a “buy” rating in a research note on Thursday, September 8th. JPMorgan Chase & Co. reissued a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Wednesday, September 7th. Wedbush reissued a “neutral” rating and issued a $104.00 price target (down from $108.00) on shares of BioMarin Pharmaceutical in a research note on Tuesday, September 6th. Finally, Vetr raised shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating and set a $111.64 price target for the company in a research note on Wednesday, August 24th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. BioMarin Pharmaceutical presently has a consensus rating of “Buy” and a consensus target price of $120.61.
In related news, EVP George Eric Davis sold 2,167 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $90.00, for a total transaction of $195,030.00. Following the completion of the sale, the executive vice president now owns 72,836 shares in the company, valued at approximately $6,555,240. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Brian Mueller sold 287 shares of BioMarin Pharmaceutical stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $100.00, for a total transaction of $28,700.00. Following the sale, the vice president now owns 14,260 shares of the company’s stock, valued at approximately $1,426,000. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.
BioMarin Pharmaceutical Company Profile
BioMarin Pharmaceutical Inc (BioMarin) develops and commercializes pharmaceuticals for various diseases and medical conditions. The Company’s product portfolio consists of approximately five approved products, and multiple clinical and pre-clinical product candidates. Its approved products include Vimizim (elosulfase alpha), Naglazyme (galsulfase), Kuvan (sapropterin dihydrochloride), Aldurazyme (laronidase) and Firdapse (amifampridine phosphate).
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