BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Stake Boosted by MML Investors Services LLC
MML Investors Services LLC lifted its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 27.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,727 shares of the biotechnology company’s stock after purchasing an additional 2,545 shares during the quarter. MML Investors Services LLC’s holdings in BioMarin Pharmaceutical were worth $1,042,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Rational Advisors LLC grew its stake in BioMarin Pharmaceutical by 3,211.1% in the 1st quarter. Rational Advisors LLC now owns 298 shares of the biotechnology company’s stock valued at $26,000 after acquiring an additional 289 shares during the last quarter. Doyle Wealth Management acquired a new stake in BioMarin Pharmaceutical in the 4th quarter valued at about $26,000. Commonwealth Bank of Australia grew its stake in BioMarin Pharmaceutical by 49.6% in the 4th quarter. Commonwealth Bank of Australia now owns 350 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 116 shares during the last quarter. PRW Wealth Management LLC acquired a new stake in BioMarin Pharmaceutical in the 4th quarter valued at about $30,000. Finally, Lindbrook Capital LLC acquired a new stake in BioMarin Pharmaceutical in the 4th quarter valued at about $30,000. 98.54% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on the stock. BidaskClub raised shares of BioMarin Pharmaceutical from a “strong sell” rating to a “sell” rating in a research note on Tuesday. JPMorgan Chase & Co. restated a “buy” rating on shares of BioMarin Pharmaceutical in a report on Sunday, June 2nd. Wedbush restated a “buy” rating and issued a $128.00 target price on shares of BioMarin Pharmaceutical in a report on Tuesday, May 28th. Citigroup restated a “buy” rating on shares of BioMarin Pharmaceutical in a report on Thursday, May 23rd. Finally, TheStreet lowered shares of BioMarin Pharmaceutical from a “c-” rating to a “d+” rating in a report on Tuesday, May 7th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $116.00.
NASDAQ:BMRN opened at $82.36 on Friday. The stock has a market capitalization of $14.74 billion, a price-to-earnings ratio of -249.58 and a beta of 1.41. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.76 and a current ratio of 3.83. BioMarin Pharmaceutical Inc. has a 12-month low of $79.13 and a 12-month high of $106.74.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Thursday, April 25th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.02. The company had revenue of $400.70 million for the quarter, compared to analyst estimates of $389.95 million. BioMarin Pharmaceutical had a negative net margin of 5.90% and a negative return on equity of 2.97%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.12 EPS. Analysts forecast that BioMarin Pharmaceutical Inc. will post -0.04 earnings per share for the current year.
COPYRIGHT VIOLATION NOTICE: “BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Stake Boosted by MML Investors Services LLC” was originally published by Watch List News and is owned by of Watch List News. If you are viewing this report on another website, it was stolen and republished in violation of US and international copyright laws. The legal version of this report can be viewed at https://www.watchlistnews.com/biomarin-pharmaceutical-inc-nasdaqbmrn-stake-boosted-by-mml-investors-services-llc/3041438.html.
About BioMarin Pharmaceutical
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.
Featured Story: Stop Order Uses For Individual Investors
Want to see what other hedge funds are holding BMRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BioMarin Pharmaceutical Inc. (NASDAQ:BMRN).
Receive News & Ratings for BioMarin Pharmaceutical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioMarin Pharmaceutical and related companies with MarketBeat.com's FREE daily email newsletter.