Van ECK Associates Corp Buys 41,145 Shares of BioMarin Pharmaceutical Inc. (BMRN)
Van ECK Associates Corp grew its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 12.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 362,507 shares of the biotechnology company’s stock after purchasing an additional 41,145 shares during the period. Van ECK Associates Corp owned about 0.21% of BioMarin Pharmaceutical worth $33,739,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. ING Groep NV bought a new stake in BioMarin Pharmaceutical during the 3rd quarter worth approximately $507,000. Pacer Advisors Inc. increased its holdings in BioMarin Pharmaceutical by 14.0% during the 3rd quarter. Pacer Advisors Inc. now owns 6,066 shares of the biotechnology company’s stock worth $565,000 after purchasing an additional 744 shares in the last quarter. Commerce Bank bought a new stake in BioMarin Pharmaceutical during the 3rd quarter worth approximately $209,000. Quantbot Technologies LP increased its holdings in BioMarin Pharmaceutical by 1,330.8% during the 3rd quarter. Quantbot Technologies LP now owns 2,833 shares of the biotechnology company’s stock worth $263,000 after purchasing an additional 2,635 shares in the last quarter. Finally, Ironsides Asset Advisors LLC bought a new stake in BioMarin Pharmaceutical during the 3rd quarter worth approximately $344,000. 95.98% of the stock is owned by hedge funds and other institutional investors.
In other BioMarin Pharmaceutical news, insider Henry J. Fuchs sold 15,000 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $90.50, for a total transaction of $1,357,500.00. Following the completion of the transaction, the insider now directly owns 141,422 shares of the company’s stock, valued at $12,798,691. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jeffrey Robert Ajer sold 3,521 shares of the stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $95.00, for a total value of $334,495.00. Following the transaction, the executive vice president now directly owns 49,299 shares of the company’s stock, valued at $4,683,405. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,686 shares of company stock valued at $3,736,318. 1.85% of the stock is currently owned by corporate insiders.
A number of analysts have commented on the company. Evercore ISI assumed coverage on BioMarin Pharmaceutical in a report on Wednesday, August 16th. They set an “outperform” rating and a $100.00 price objective for the company. Wedbush reissued a “neutral” rating and set a $108.00 price objective on shares of BioMarin Pharmaceutical in a report on Monday, August 7th. Stifel Nicolaus reissued a “buy” rating and set a $107.00 price objective on shares of BioMarin Pharmaceutical in a report on Friday, August 4th. Leerink Swann reissued an “outperform” rating and set a $142.00 price objective (up from $136.00) on shares of BioMarin Pharmaceutical in a report on Thursday, October 19th. Finally, Cowen Inc reissued a “buy” rating on shares of BioMarin Pharmaceutical in a report on Friday, August 4th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company. BioMarin Pharmaceutical has a consensus rating of “Hold” and a consensus price target of $111.55.
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) opened at $82.71 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.81 and a current ratio of 4.91. BioMarin Pharmaceutical Inc. has a twelve month low of $79.50 and a twelve month high of $100.51.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Thursday, October 26th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.06. The company had revenue of $334.18 million during the quarter, compared to analyst estimates of $347.38 million. BioMarin Pharmaceutical had a negative return on equity of 4.60% and a negative net margin of 12.45%. BioMarin Pharmaceutical’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.02 earnings per share. sell-side analysts anticipate that BioMarin Pharmaceutical Inc. will post -0.65 EPS for the current fiscal year.
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BioMarin Pharmaceutical 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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