DekaBank Deutsche Girozentrale increased its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.4% during the fourth quarter, Holdings Channel reports. The fund owned 255,601 shares of the biotechnology company’s stock after purchasing an additional 3,437 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in BioMarin Pharmaceutical were worth $22,051,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. acquired a new position in BioMarin Pharmaceutical during the 4th quarter valued at about $31,000. Freedman Financial Associates Inc. acquired a new position in BioMarin Pharmaceutical during the 4th quarter valued at about $33,000. Steward Partners Investment Advisory LLC increased its stake in BioMarin Pharmaceutical by 189.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 425 shares of the biotechnology company’s stock valued at $37,000 after buying an additional 278 shares during the period. Ellevest Inc. increased its stake in BioMarin Pharmaceutical by 284.6% during the 4th quarter. Ellevest Inc. now owns 450 shares of the biotechnology company’s stock valued at $39,000 after buying an additional 333 shares during the period. Finally, CKW Financial Group increased its stake in BioMarin Pharmaceutical by 80.0% during the 4th quarter. CKW Financial Group now owns 450 shares of the biotechnology company’s stock valued at $39,000 after buying an additional 200 shares during the period. 97.65% of the stock is currently owned by institutional investors and hedge funds.
In other news, CFO Brian Mueller sold 5,692 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Thursday, April 1st. The shares were sold at an average price of $76.30, for a total value of $434,299.60. Following the transaction, the chief financial officer now owns 31,016 shares of the company’s stock, valued at $2,366,520.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Jeffrey Robert Ajer sold 1,181 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Wednesday, March 24th. The shares were sold at an average price of $76.30, for a total transaction of $90,110.30. Following the completion of the transaction, the executive vice president now directly owns 61,439 shares in the company, valued at approximately $4,687,795.70. The disclosure for this sale can be found here. Insiders sold 51,848 shares of company stock valued at $4,214,321 over the last quarter. Corporate insiders own 2.15% of the company’s stock.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Thursday, February 25th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.18. The firm had revenue of $452.12 million during the quarter, compared to analysts’ expectations of $447.17 million. BioMarin Pharmaceutical had a net margin of 45.74% and a return on equity of 4.34%. As a group, equities analysts anticipate that BioMarin Pharmaceutical Inc. will post 0.6 EPS for the current year.
Several equities analysts have commented on the stock. Robert W. Baird reissued a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Monday, March 1st. Evercore ISI raised shares of BioMarin Pharmaceutical from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $90.00 to $100.00 in a research note on Monday, March 8th. Canaccord Genuity lowered their price objective on shares of BioMarin Pharmaceutical from $95.00 to $91.00 and set a “buy” rating on the stock in a research note on Monday, March 8th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $139.00 price objective on shares of BioMarin Pharmaceutical in a research note on Tuesday, March 23rd. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $117.87.
BioMarin Pharmaceutical Company Profile
BioMarin Pharmaceutical Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.
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