Aperio Group LLC boosted its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 9.7% during the second quarter, Holdings Channel reports. The institutional investor owned 56,491 shares of the biotechnology company’s stock after buying an additional 5,006 shares during the period. Aperio Group LLC’s holdings in BioMarin Pharmaceutical were worth $5,131,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in shares of BioMarin Pharmaceutical by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 180,646 shares of the biotechnology company’s stock valued at $14,966,000 after buying an additional 7,130 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of BioMarin Pharmaceutical during the fourth quarter valued at approximately $3,261,000. Deane Retirement Strategies Inc. purchased a new position in shares of BioMarin Pharmaceutical during the first quarter valued at approximately $1,799,000. Creative Planning raised its position in shares of BioMarin Pharmaceutical by 0.7% in the first quarter. Creative Planning now owns 13,440 shares of the biotechnology company’s stock valued at $1,180,000 after buying an additional 100 shares in the last quarter. Finally, Gulf International Bank UK Ltd raised its position in shares of BioMarin Pharmaceutical by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 52,575 shares of the biotechnology company’s stock valued at $4,615,000 after buying an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 96.77% of the company’s stock.
BioMarin Pharmaceutical Inc. (BMRN) traded down 0.78% during midday trading on Monday, hitting $87.65. The company had a trading volume of 141,055 shares. The firm has a 50-day moving average price of $90.53 and a 200-day moving average price of $89.98. BioMarin Pharmaceutical Inc. has a 12 month low of $78.42 and a 12 month high of $102.49. The company’s market cap is $15.29 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Thursday, May 4th. The biotechnology company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.33. The firm had revenue of $303.70 million for the quarter, compared to the consensus estimate of $292.58 million. BioMarin Pharmaceutical had a negative return on equity of 22.71% and a negative net margin of 48.43%. The firm’s quarterly revenue was up 28.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.53) EPS. Equities analysts anticipate that BioMarin Pharmaceutical Inc. will post ($0.79) EPS for the current year.
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Several equities analysts have recently commented on BMRN shares. Vetr upgraded BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating and set a $100.06 price target on the stock in a research note on Monday, April 3rd. Cowen and Company restated an “outperform” rating and set a $150.00 price target on shares of BioMarin Pharmaceutical in a research note on Tuesday, April 18th. Credit Suisse Group restated an “outperform” rating and set a $112.00 price target on shares of BioMarin Pharmaceutical in a research note on Tuesday, April 18th. BMO Capital Markets cut their price target on BioMarin Pharmaceutical from $112.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, April 24th. Finally, Jefferies Group LLC restated a “buy” rating and set a $116.00 price target on shares of BioMarin Pharmaceutical in a research note on Wednesday, April 26th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the stock. BioMarin Pharmaceutical presently has a consensus rating of “Hold” and an average price target of $109.77.
In related news, EVP George Eric Davis sold 9,844 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 93,425 shares in the company, valued at approximately $9,024,855. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Brian Mueller sold 2,671 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $100.00, for a total value of $267,100.00. Following the transaction, the senior vice president now owns 15,556 shares in the company, valued at approximately $1,555,600. The disclosure for this sale can be found here. Insiders have sold a total of 82,024 shares of company stock worth $7,587,926 in the last 90 days. 2.50% of the stock is currently owned by company insiders.
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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