California Public Employees Retirement System boosted its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 28.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 348,212 shares of the biotechnology company’s stock after acquiring an additional 77,246 shares during the quarter. California Public Employees Retirement System owned 0.19% of BioMarin Pharmaceutical worth $23,469,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of BMRN. EFG Asset Management Americas Corp. raised its position in BioMarin Pharmaceutical by 1.6% in the second quarter. EFG Asset Management Americas Corp. now owns 34,656 shares of the biotechnology company’s stock valued at $2,968,000 after purchasing an additional 535 shares during the period. Zions Bancorporation N.A. raised its position in BioMarin Pharmaceutical by 61.9% in the second quarter. Zions Bancorporation N.A. now owns 1,999 shares of the biotechnology company’s stock valued at $171,000 after purchasing an additional 764 shares during the period. Valeo Financial Advisors LLC raised its position in BioMarin Pharmaceutical by 6,666.7% in the second quarter. Valeo Financial Advisors LLC now owns 1,218 shares of the biotechnology company’s stock valued at $104,000 after purchasing an additional 1,200 shares during the period. Rothschild Investment Corp IL raised its position in BioMarin Pharmaceutical by 35.2% in the second quarter. Rothschild Investment Corp IL now owns 17,619 shares of the biotechnology company’s stock valued at $1,509,000 after purchasing an additional 4,585 shares during the period. Finally, NN Investment Partners Holdings N.V. raised its position in BioMarin Pharmaceutical by 15.0% in the second quarter. NN Investment Partners Holdings N.V. now owns 23,037 shares of the biotechnology company’s stock valued at $1,973,000 after purchasing an additional 3,001 shares during the period. Hedge funds and other institutional investors own 95.51% of the company’s stock.
Shares of NASDAQ BMRN traded up $0.33 during midday trading on Friday, reaching $80.71. 791,529 shares of the company’s stock were exchanged, compared to its average volume of 1,629,711. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.53 and a current ratio of 3.77. The stock has a market capitalization of $14.10 billion, a PE ratio of -244.58, a price-to-earnings-growth ratio of 121.66 and a beta of 1.30. BioMarin Pharmaceutical Inc. has a 52-week low of $62.88 and a 52-week high of $100.13. The business’s fifty day moving average price is $73.39 and its two-hundred day moving average price is $77.51.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Wednesday, October 23rd. The biotechnology company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.25. The firm had revenue of $461.10 million during the quarter, compared to analyst estimates of $455.78 million. BioMarin Pharmaceutical had a negative return on equity of 1.35% and a negative net margin of 2.65%. BioMarin Pharmaceutical’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.07) earnings per share. Analysts predict that BioMarin Pharmaceutical Inc. will post 0.01 earnings per share for the current fiscal year.
In related news, EVP George Eric Davis sold 3,190 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.66, for a total value of $254,115.40. Following the completion of the sale, the executive vice president now directly owns 68,709 shares of the company’s stock, valued at $5,473,358.94. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jean Jacques Bienaime sold 5,000 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $69.55, for a total value of $347,750.00. Following the completion of the sale, the chief executive officer now directly owns 332,520 shares of the company’s stock, valued at $23,126,766. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,940 shares of company stock valued at $1,657,128. 1.90% of the stock is owned by corporate insiders.
Several research firms have commented on BMRN. Zacks Investment Research lowered BioMarin Pharmaceutical from a “buy” rating to a “hold” rating and set a $79.00 price objective on the stock. in a research report on Wednesday, November 6th. BidaskClub raised BioMarin Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Citigroup reissued a “buy” rating and issued a $95.00 price objective (down from $120.00) on shares of BioMarin Pharmaceutical in a research report on Wednesday, October 30th. Piper Jaffray Companies set a $120.00 target price on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research report on Friday, September 13th. Finally, Cantor Fitzgerald set a $129.00 target price on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research report on Monday, October 21st. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $107.67.
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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