BioMarin Pharmaceutical Inc. (BMRN) Position Increased by Dupont Capital Management Corp
Dupont Capital Management Corp boosted its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 209.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,763 shares of the biotechnology company’s stock after purchasing an additional 3,900 shares during the quarter. Dupont Capital Management Corp’s holdings in BioMarin Pharmaceutical were worth $536,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in BMRN. Jennison Associates LLC boosted its stake in BioMarin Pharmaceutical by 33.8% during the 2nd quarter. Jennison Associates LLC now owns 13,242,773 shares of the biotechnology company’s stock valued at $1,202,709,000 after purchasing an additional 3,348,168 shares during the period. TIAA CREF Investment Management LLC lifted its position in shares of BioMarin Pharmaceutical by 63.7% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 2,251,011 shares of the biotechnology company’s stock worth $204,437,000 after acquiring an additional 875,686 shares during the period. USS Investment Management Ltd lifted its position in shares of BioMarin Pharmaceutical by 214.7% in the 2nd quarter. USS Investment Management Ltd now owns 1,089,933 shares of the biotechnology company’s stock worth $98,988,000 after acquiring an additional 743,599 shares during the period. Vanguard Group Inc. lifted its position in shares of BioMarin Pharmaceutical by 4.7% in the 2nd quarter. Vanguard Group Inc. now owns 14,345,027 shares of the biotechnology company’s stock worth $1,302,816,000 after acquiring an additional 642,623 shares during the period. Finally, Manning & Napier Advisors LLC lifted its position in shares of BioMarin Pharmaceutical by 25.2% in the 2nd quarter. Manning & Napier Advisors LLC now owns 2,118,486 shares of the biotechnology company’s stock worth $192,399,000 after acquiring an additional 426,016 shares during the period. Hedge funds and other institutional investors own 97.39% of the company’s stock.
A number of analysts have commented on the company. J P Morgan Chase & Co set a $130.00 price objective on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research report on Sunday, October 29th. BMO Capital Markets raised their price objective on BioMarin Pharmaceutical from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. Stifel Nicolaus reduced their price objective on BioMarin Pharmaceutical from $107.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, October 27th. SunTrust Banks, Inc. set a $115.00 price objective on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research report on Thursday, October 19th. Finally, Leerink Swann reiterated an “outperform” rating and issued a $142.00 price objective (up previously from $136.00) on shares of BioMarin Pharmaceutical in a research report on Thursday, October 19th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the stock. BioMarin Pharmaceutical has an average rating of “Hold” and an average target price of $111.55.
In other news, EVP Robert Baffi sold 18,415 shares of the firm’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $92.43, for a total value of $1,702,098.45. Following the transaction, the executive vice president now directly owns 129,083 shares in the company, valued at approximately $11,931,141.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Henry J. Fuchs sold 15,000 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $90.50, for a total value of $1,357,500.00. Following the completion of the transaction, the insider now owns 141,422 shares in the company, valued at $12,798,691. The disclosure for this sale can be found here. Insiders sold a total of 40,686 shares of company stock valued at $3,736,318 over the last three months. Insiders own 1.85% of the company’s stock.
Shares of BioMarin Pharmaceutical Inc. (NASDAQ BMRN) opened at $82.03 on Friday. BioMarin Pharmaceutical Inc. has a 52 week low of $79.50 and a 52 week high of $100.51. The company has a current ratio of 4.91, a quick ratio of 3.81 and a debt-to-equity ratio of 0.41.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Thursday, October 26th. The biotechnology company reported ($0.07) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.06. The company had revenue of $334.18 million during the quarter, compared to analysts’ expectations of $347.38 million. BioMarin Pharmaceutical had a negative return on equity of 4.60% and a negative net margin of 12.45%. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same period last year, the firm earned $0.02 EPS. sell-side analysts predict that BioMarin Pharmaceutical Inc. will post -0.66 EPS for the current fiscal year.
BioMarin Pharmaceutical Company Profile
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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