Westpac Banking Corp raised its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 29.8% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 8,927 shares of the company’s stock after buying an additional 2,050 shares during the period. Westpac Banking Corp’s holdings in BioMarin Pharmaceutical were worth $695,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in BMRN. Adage Capital Partners GP L.L.C. boosted its position in BioMarin Pharmaceutical by 316.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,052,900 shares of the company’s stock valued at $86,843,000 after buying an additional 800,000 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its position in BioMarin Pharmaceutical by 18.5% in the second quarter. Candriam Luxembourg S.C.A. now owns 247,100 shares of the company’s stock valued at $19,225,000 after buying an additional 38,628 shares during the last quarter. ING Groep NV acquired a new position in BioMarin Pharmaceutical during the second quarter valued at about $57,357,000. Strs Ohio boosted its position in BioMarin Pharmaceutical by 50.7% in the second quarter. Strs Ohio now owns 491,556 shares of the company’s stock valued at $38,243,000 after buying an additional 165,472 shares during the last quarter. Finally, State Street Corp boosted its position in BioMarin Pharmaceutical by 5.6% in the first quarter. State Street Corp now owns 3,286,743 shares of the company’s stock valued at $271,074,000 after buying an additional 175,733 shares during the last quarter. 93.02% of the stock is owned by institutional investors.
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) opened at 95.0753 on Tuesday. The firm’s market cap is $15.54 billion. The stock’s 50 day moving average price is $95.46 and its 200-day moving average price is $89.02. BioMarin Pharmaceutical Inc. has a one year low of $62.12 and a one year high of $118.48.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($2.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by $2.09. The firm earned $300.10 million during the quarter, compared to the consensus estimate of $278.75 million. BioMarin Pharmaceutical had a negative net margin of 54.53% and a negative return on equity of 11.99%. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.51) earnings per share. Analysts forecast that BioMarin Pharmaceutical Inc. will post ($3.95) earnings per share for the current year.
BMRN has been the subject of several recent analyst reports. 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. Piper Jaffray Cos. reaffirmed an “overweight” rating on shares of BioMarin Pharmaceutical in a research note on Friday, August 19th. Vetr raised BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating and set a $111.64 target price for the company in a research note on Wednesday, August 24th. Barclays PLC reaffirmed a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Thursday, June 16th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Wednesday, August 17th. Three investment 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. The stock presently has an average rating of “Buy” and a consensus target price of $120.61.
In other news, CEO Jean Jacques Bienaime sold 53,125 shares of the business’s stock in a transaction dated Thursday, September 29th. The stock was sold at an average price of $93.65, for a total value of $4,975,156.25. Following the sale, the chief executive officer now directly owns 431,709 shares in the company, valued at $40,429,547.85. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Brian Mueller sold 287 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $100.00, for a total value of $28,700.00. Following the completion of the sale, the vice president now owns 14,260 shares in the company, valued at $1,426,000. The disclosure for this sale can be found here. 2.50% of the stock is owned by 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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