BioMarin Pharmaceutical Inc. (BMRN) Stake Decreased by Shell Asset Management Co.
Shell Asset Management Co. decreased its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 5.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,797 shares of the company’s stock after selling 1,618 shares during the period. Shell Asset Management Co.’s holdings in BioMarin Pharmaceutical were worth $2,387,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Cornerstone Advisors Inc. increased its stake in BioMarin Pharmaceutical by 22.0% in the third quarter. Cornerstone Advisors Inc. now owns 1,159 shares of the company’s stock valued at $107,000 after buying an additional 209 shares in the last quarter. Independent Portfolio Consultants Inc. purchased a new stake in BioMarin Pharmaceutical during the third quarter valued at about $121,000. Meeder Asset Management Inc. purchased a new stake in BioMarin Pharmaceutical during the second quarter valued at about $140,000. LS Investment Advisors LLC increased its stake in BioMarin Pharmaceutical by 13.5% in the second quarter. LS Investment Advisors LLC now owns 1,946 shares of the company’s stock valued at $151,000 after buying an additional 231 shares in the last quarter. Finally, Mizuho Asset Management Co. Ltd. increased its stake in BioMarin Pharmaceutical by 111.3% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,276 shares of the company’s stock valued at $177,000 after buying an additional 1,199 shares in the last quarter. 97.48% of the stock is owned by institutional investors and hedge funds.
Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) traded up 1.14% during mid-day trading on Friday, reaching $87.14. 736,922 shares of the company’s stock traded hands. BioMarin Pharmaceutical Inc. has a 12 month low of $62.12 and a 12 month high of $102.49. The company has a 50 day moving average of $84.99 and a 200 day moving average of $89.39. The company’s market cap is $14.99 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Thursday, October 27th. The company reported ($0.26) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.39) by $0.13. The firm earned $279.90 million during the quarter, compared to the consensus estimate of $289.70 million. BioMarin Pharmaceutical had a negative return on equity of 8.54% and a negative net margin of 46.22%. The business’s quarterly revenue was up 34.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.60) earnings per share. Analysts expect that BioMarin Pharmaceutical Inc. will post ($3.73) earnings per share for the current fiscal year.
Several equities analysts recently commented on BMRN shares. Goldman Sachs Group, Inc. (The) upgraded shares of BioMarin Pharmaceutical to a “neutral” rating in a research note on Friday, October 7th. Gabelli started coverage on shares of BioMarin Pharmaceutical in a research note on Thursday, December 8th. They set a “buy” rating and a $109.00 target price for the company. Vetr upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $93.98 target price for the company in a research note on Tuesday, November 29th. Leerink Swann reiterated an “outperform” rating and set a $127.00 target price on shares of BioMarin Pharmaceutical in a research note on Friday, September 16th. Finally, Zacks Investment Research cut shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 1st. Five equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. BioMarin Pharmaceutical presently has an average rating of “Buy” and a consensus target price of $113.57.
In other news, CEO Jean Jacques Bienaime sold 120,000 shares of the business’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $81.30, for a total transaction of $9,756,000.00. Following the sale, the chief executive officer now directly owns 383,368 shares in the company, valued at $31,167,818.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Daniel K. Spiegelman sold 5,000 shares of the business’s stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $90.00, for a total value of $450,000.00. Following the sale, the chief financial officer now owns 18,100 shares in the company, valued at $1,629,000. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.
About BioMarin Pharmaceutical
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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