TD Asset Management Inc. raised its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 0.2% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 63,159 shares of the biotechnology company’s stock after buying an additional 127 shares during the period. TD Asset Management Inc.’s holdings in BioMarin Pharmaceutical were worth $5,736,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. Parallel Advisors LLC boosted its stake in shares of BioMarin Pharmaceutical by 13.6% in the first quarter. Parallel Advisors LLC now owns 1,042 shares of the biotechnology company’s stock valued at $100,000 after buying an additional 125 shares during the last quarter. Nikko Asset Management Americas Inc. acquired a new stake in shares of BioMarin Pharmaceutical during the first quarter valued at approximately $114,000. Global X Management Co. LLC boosted its stake in shares of BioMarin Pharmaceutical by 59.7% in the first quarter. Global X Management Co. LLC now owns 1,656 shares of the biotechnology company’s stock valued at $145,000 after buying an additional 619 shares during the last quarter. Korea Investment CORP boosted its stake in shares of BioMarin Pharmaceutical by 143.5% in the second quarter. Korea Investment CORP now owns 1,595 shares of the biotechnology company’s stock valued at $145,000 after buying an additional 940 shares during the last quarter. Finally, Toronto Dominion Bank boosted its stake in shares of BioMarin Pharmaceutical by 27.1% in the first quarter. Toronto Dominion Bank now owns 1,881 shares of the biotechnology company’s stock valued at $165,000 after buying an additional 401 shares during the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.
Shares of BioMarin Pharmaceutical Inc. (NASDAQ BMRN) opened at 80.92 on Friday. BioMarin Pharmaceutical Inc. has a 12-month low of $78.42 and a 12-month high of $102.06. The stock’s 50 day moving average is $87.59 and its 200-day moving average is $89.88. The stock’s market cap is $14.18 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.01. The company had revenue of $317.50 million during the quarter, compared to analysts’ expectations of $311.41 million. BioMarin Pharmaceutical had a negative return on equity of 5.77% and a negative net margin of 15.54%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($2.61) EPS. Equities analysts anticipate that BioMarin Pharmaceutical Inc. will post ($0.72) EPS for the current fiscal year.
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Several analysts have commented on the stock. Wedbush restated a “neutral” rating and set a $108.00 price objective on shares of BioMarin Pharmaceutical in a research note on Monday, August 7th. Deutsche Bank AG set a $105.00 target price on shares of BioMarin Pharmaceutical and gave the company a “buy” rating in a research note on Friday, April 28th. Jefferies Group LLC reiterated a “buy” rating and issued a $116.00 target price on shares of BioMarin Pharmaceutical in a research note on Monday, May 15th. BMO Capital Markets decreased their target price on shares of BioMarin Pharmaceutical from $112.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, April 24th. Finally, J P Morgan Chase & Co reiterated a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Monday, May 1st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $109.73.
In other BioMarin Pharmaceutical news, 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 completion of the sale, the director now owns 19,660 shares in the company, valued at approximately $1,769,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jean Jacques Bienaime sold 5,000 shares of BioMarin Pharmaceutical stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $88.38, for a total value of $441,900.00. Following the completion of the sale, the chief executive officer now owns 238,564 shares of the company’s stock, valued at approximately $21,084,286.32. The disclosure for this sale can be found here. Insiders sold a total of 56,740 shares of company stock valued at $5,200,939 in the last 90 days. 2.50% of the stock is 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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