Tokio Marine Asset Management Co. Ltd. decreased its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 0.3% during the second quarter, Holdings Channel reports. The fund owned 41,345 shares of the company’s stock after selling 143 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in BioMarin Pharmaceutical were worth $3,217,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. 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 during the last quarter. Mn Services Vermogensbeheer B.V. bought a new stake in BioMarin Pharmaceutical during the first quarter worth $289,000. Parametrica Management Ltd bought a new stake in BioMarin Pharmaceutical during the first quarter worth $215,000. 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 during the last quarter. Finally, Prudential Financial Inc. increased its stake in BioMarin Pharmaceutical by 31.2% in the first quarter. Prudential Financial Inc. now owns 141,570 shares of the company’s stock worth $11,677,000 after buying an additional 33,700 shares during the last quarter. 93.02% of the stock is currently owned by institutional investors.
Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) traded down 3.38% during trading on Thursday, reaching $92.78. 1,046,414 shares of the company were exchanged. BioMarin Pharmaceutical Inc. has a 52-week low of $62.12 and a 52-week high of $118.48. The stock’s 50-day moving average is $95.35 and its 200-day moving average is $88.72. The firm’s market cap is $15.17 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results 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 earned $300.10 million during the quarter, compared to analyst estimates of $278.75 million. During the same quarter in the prior year, the business earned ($0.51) EPS. The business’s quarterly revenue was up 20.0% on a year-over-year basis. Equities research analysts predict that BioMarin Pharmaceutical Inc. will post ($3.95) earnings per share for the current fiscal year.
A number of equities research analysts have weighed in on BMRN shares. Oppenheimer Holdings Inc. reaffirmed a “hold” rating and set a $99.00 price objective on shares of BioMarin Pharmaceutical in a report on Wednesday, June 1st. Leerink Swann reaffirmed a “buy” rating on shares of BioMarin Pharmaceutical in a report on Wednesday, June 1st. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $126.00 price objective on shares of BioMarin Pharmaceutical in a report on Wednesday, June 1st. Barclays PLC reissued an “overweight” rating and issued a $105.00 target price on shares of BioMarin Pharmaceutical in a report on Friday, June 3rd. Finally, Credit Suisse Group AG reissued a “buy” rating and issued a $114.00 target price (up from $103.00) on shares of BioMarin Pharmaceutical in a report on Monday, June 13th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $120.61.
In other news, VP Brian Mueller sold 287 shares of the firm’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $100.00, for a total transaction of $28,700.00. Following the completion of the transaction, the vice president now owns 14,260 shares of the company’s stock, valued at $1,426,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP George Eric Davis sold 2,167 shares of the firm’s stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $90.00, for a total transaction of $195,030.00. Following the transaction, the executive vice president now directly owns 72,836 shares of the company’s stock, valued at approximately $6,555,240. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.
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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