Traders purchased shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) on weakness during trading hours on Thursday. $50.75 million flowed into the stock on the tick-up and $38.80 million flowed out of the stock on the tick-down, for a money net flow of $11.95 million into the stock. Of all companies tracked, BioMarin Pharmaceutical had the 31st highest net in-flow for the day. BioMarin Pharmaceutical traded down ($0.49) for the day and closed at $88.13

Several brokerages have commented on BMRN. Cowen and Company reissued a “buy” rating on shares of BioMarin Pharmaceutical in a report on Tuesday, July 11th. Deutsche Bank AG reissued a “buy” rating and issued a $119.00 price objective (up from $118.00) on shares of BioMarin Pharmaceutical in a report on Thursday, August 3rd. Leerink Swann reissued a “buy” rating on shares of BioMarin Pharmaceutical in a report on Tuesday, July 18th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $115.00 price objective on shares of BioMarin Pharmaceutical in a report on Friday, July 14th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $107.00 price objective on shares of BioMarin Pharmaceutical in a report on Friday, August 4th. 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 company. The stock currently has an average rating of “Hold” and a consensus price target of $111.17.

The company’s market cap is $15.45 billion. The company has a 50-day moving average price of $92.56 and a 200 day moving average price of $90.07.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.01. The firm had revenue of $317.50 million for the quarter, compared to analysts’ expectations of $311.41 million. BioMarin Pharmaceutical had a negative return on equity of 5.77% and a negative net margin of 15.54%. BioMarin Pharmaceutical’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($2.61) EPS. Analysts forecast that BioMarin Pharmaceutical Inc. will post ($0.72) EPS for the current year.

In other BioMarin Pharmaceutical news, EVP Jeffrey Robert Ajer sold 3,521 shares of the stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $95.00, for a total transaction of $334,495.00. Following the sale, the executive vice president now owns 49,299 shares in the company, valued at approximately $4,683,405. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Henry J. Fuchs sold 15,000 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $90.50, for a total value of $1,357,500.00. Following the sale, the insider now owns 141,422 shares in the company, valued at approximately $12,798,691. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,686 shares of company stock worth $3,736,318. 1.85% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of the business. Toronto Dominion Bank lifted its stake in shares of BioMarin Pharmaceutical by 12.9% during the 2nd quarter. Toronto Dominion Bank now owns 2,124 shares of the biotechnology company’s stock worth $193,000 after purchasing an additional 243 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of BioMarin Pharmaceutical during the 2nd quarter worth $368,000. WINTON GROUP Ltd purchased a new position in shares of BioMarin Pharmaceutical during the 2nd quarter worth $223,000. Ameritas Investment Partners Inc. lifted its stake in shares of BioMarin Pharmaceutical by 1.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,126 shares of the biotechnology company’s stock worth $284,000 after purchasing an additional 54 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of BioMarin Pharmaceutical by 13.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,798 shares of the biotechnology company’s stock worth $617,000 after purchasing an additional 812 shares during the period. 97.29% of the stock is currently owned by institutional investors.

WARNING: This piece was reported by Watch List News and is the sole property of of Watch List News. If you are viewing this piece on another publication, it was stolen and republished in violation of US and international copyright law. The correct version of this piece can be read at https://www.watchlistnews.com/traders-buy-biomarin-pharmaceutical-inc-bmrn-on-weakness/1641941.html.

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).

Receive News & Ratings for BioMarin Pharmaceutical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioMarin Pharmaceutical Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.