Bank of Montreal Can decreased its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 34.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,583 shares of the biotechnology company’s stock after selling 50,330 shares during the period. Bank of Montreal Can owned about 0.05% of BioMarin Pharmaceutical worth $8,590,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in BMRN. Rice Hall James & Associates LLC raised its position in shares of BioMarin Pharmaceutical by 2.9% in the first quarter. Rice Hall James & Associates LLC now owns 8,841 shares of the biotechnology company’s stock valued at $776,000 after buying an additional 253 shares during the period. DnB Asset Management AS raised its position in shares of BioMarin Pharmaceutical by 17.3% in the first quarter. DnB Asset Management AS now owns 19,000 shares of the biotechnology company’s stock valued at $1,668,000 after buying an additional 2,800 shares during the period. Capstone Asset Management Co. raised its position in shares of BioMarin Pharmaceutical by 18.8% in the first quarter. Capstone Asset Management Co. now owns 7,268 shares of the biotechnology company’s stock valued at $638,000 after buying an additional 1,150 shares during the period. National Pension Service raised its position in shares of BioMarin Pharmaceutical by 8.5% in the first quarter. National Pension Service now owns 147,473 shares of the biotechnology company’s stock valued at $13,143,000 after buying an additional 11,552 shares during the period. 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 during the period. 96.77% of the stock is currently owned by institutional investors.
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) traded up 0.20% on Friday, hitting $89.70. The stock had a trading volume of 897,663 shares. The company’s 50 day moving average is $90.43 and its 200 day moving average is $90.03. The firm’s market cap is $15.72 billion. BioMarin Pharmaceutical Inc. has a 12-month low of $78.42 and a 12-month high of $102.49.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.01. BioMarin Pharmaceutical had a negative return on equity of 5.77% and a negative net margin of 15.54%. The business had revenue of $317.50 million for the quarter, compared to analyst estimates of $311.41 million. During the same period in the previous year, the company earned ($2.61) earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities research analysts expect that BioMarin Pharmaceutical Inc. will post ($0.72) EPS for the current fiscal year.
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Several equities analysts have recently commented on the company. Deutsche Bank AG set a $105.00 price target on BioMarin Pharmaceutical and gave the company a “buy” rating in a research note on Friday, April 28th. BMO Capital Markets decreased 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. Jefferies Group LLC reaffirmed a “buy” rating and issued a $116.00 price target on shares of BioMarin Pharmaceutical in a research note on Monday, May 15th. J P Morgan Chase & Co reiterated a “buy” rating on shares of BioMarin Pharmaceutical in a report on Monday, May 1st. Finally, Zacks Investment Research upgraded BioMarin Pharmaceutical from a “hold” rating to a “strong-buy” rating and set a $105.00 price objective on the stock in a report on Monday, July 17th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $110.20.
In other news, CEO Jean Jacques Bienaime sold 10,000 shares of BioMarin Pharmaceutical stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $96.09, for a total transaction of $960,900.00. Following the sale, the chief executive officer now directly owns 238,496 shares of the company’s stock, valued at $22,917,080.64. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director V Bryan Lawlis sold 3,750 shares of BioMarin Pharmaceutical stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $90.00, for a total value of $337,500.00. Following the sale, the director now directly owns 19,660 shares in the company, valued at $1,769,400. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,222 shares of company stock worth $7,307,860. Corporate insiders own 2.50% of the company’s stock.
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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