Janney Montgomery Scott LLC raised its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 59.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,858 shares of the biotechnology company’s stock after buying an additional 7,061 shares during the quarter. Janney Montgomery Scott LLC’s holdings in BioMarin Pharmaceutical were worth $1,271,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of BMRN. Great West Life Assurance Co. Can raised its stake in BioMarin Pharmaceutical by 6.1% during the third quarter. Great West Life Assurance Co. Can now owns 113,926 shares of the biotechnology company’s stock worth $7,683,000 after acquiring an additional 6,501 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new stake in shares of BioMarin Pharmaceutical during the third quarter worth $9,692,000. Essex Investment Management Co. LLC grew its holdings in shares of BioMarin Pharmaceutical by 16.9% during the third quarter. Essex Investment Management Co. LLC now owns 7,753 shares of the biotechnology company’s stock worth $523,000 after purchasing an additional 1,119 shares during the last quarter. Brinker Capital Inc. bought a new stake in shares of BioMarin Pharmaceutical during the third quarter worth $688,000. Finally, Kistler Tiffany Companies LLC grew its holdings in shares of BioMarin Pharmaceutical by 27.3% during the third quarter. Kistler Tiffany Companies LLC now owns 2,520 shares of the biotechnology company’s stock worth $170,000 after purchasing an additional 540 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.
BMRN has been the topic of several research analyst reports. BidaskClub upgraded BioMarin Pharmaceutical from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Nomura decreased their price target on BioMarin Pharmaceutical from $93.00 to $77.00 in a report on Thursday, October 24th. Cantor Fitzgerald set a $129.00 price target on BioMarin Pharmaceutical and gave the company a “buy” rating in a report on Monday, October 21st. Wedbush reiterated a “buy” rating and issued a $157.00 price target on shares of BioMarin Pharmaceutical in a report on Friday. Finally, William Blair reissued a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Friday, November 15th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. BioMarin Pharmaceutical presently has a consensus rating of “Buy” and a consensus target price of $106.87.
In related news, Director V Bryan Lawlis sold 3,750 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $74.47, for a total transaction of $279,262.50. Following the transaction, the director now directly owns 27,340 shares of the company’s stock, valued at approximately $2,036,009.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jean Jacques Bienaime sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $69.55, for a total value of $347,750.00. Following the transaction, the chief executive officer now directly owns 332,520 shares in the company, valued at $23,126,766. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
Shares of BioMarin Pharmaceutical stock opened at $77.77 on Friday. The business’s 50 day simple moving average is $71.47 and its 200 day simple moving average is $77.62. BioMarin Pharmaceutical Inc. has a 52-week low of $62.88 and a 52-week high of $100.13. The firm has a market cap of $13.84 billion, a PE ratio of -235.67, a P/E/G ratio of 119.43 and a beta of 1.30. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.53 and a current ratio of 3.77.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Wednesday, October 23rd. The biotechnology company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.25. BioMarin Pharmaceutical had a negative return on equity of 1.35% and a negative net margin of 2.65%. The firm had revenue of $461.10 million for the quarter, compared to analyst estimates of $455.78 million. During the same quarter in the previous year, the company posted ($0.07) EPS. The business’s revenue was up 17.7% on a year-over-year basis. As a group, equities research analysts predict that BioMarin Pharmaceutical Inc. will post 0.01 EPS for the current year.
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.
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