British Columbia Investment Management Corp Cuts Position in BioMarin Pharmaceutical Inc. (BMRN)
British Columbia Investment Management Corp lowered its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 12.6% during the third quarter, according to its most recent filing with the SEC. The fund owned 88,178 shares of the company’s stock after selling 12,725 shares during the period. British Columbia Investment Management Corp’s holdings in BioMarin Pharmaceutical were worth $8,158,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Rockefeller Financial Services Inc. acquired a new stake in BioMarin Pharmaceutical during the second quarter worth $111,000. Independent Portfolio Consultants Inc. purchased a new stake in shares of BioMarin Pharmaceutical during the third quarter valued at approximately $121,000. Meeder Asset Management Inc. purchased a new stake in shares of BioMarin Pharmaceutical during the second quarter valued at approximately $140,000. Mutual of America Capital Management LLC boosted its stake in shares of BioMarin Pharmaceutical by 930.0% in the second quarter. Mutual of America Capital Management LLC now owns 1,854 shares of the company’s stock valued at $144,000 after buying an additional 1,674 shares during the last quarter. Finally, LS Investment Advisors LLC boosted its stake in shares of BioMarin Pharmaceutical by 13.5% in the second quarter. LS Investment Advisors LLC now owns 1,946 shares of the company’s stock valued at $151,000 after buying an additional 231 shares during the last quarter. 97.54% of the stock is currently owned by institutional investors.
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) traded down 1.01% during mid-day trading on Tuesday, reaching $87.47. 759,441 shares of the company were exchanged. The stock’s market capitalization is $15.04 billion. The company’s 50 day moving average price is $86.14 and its 200-day moving average price is $89.66. BioMarin Pharmaceutical Inc. has a 12-month low of $62.12 and a 12-month high of $107.56.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Thursday, October 27th. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.13. The business earned $279.90 million during the quarter, compared to the consensus estimate of $289.70 million. BioMarin Pharmaceutical had a negative net margin of 46.22% and a negative return on equity of 8.54%. The firm’s revenue for the quarter was up 34.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.60) earnings per share. On average, equities research analysts forecast that BioMarin Pharmaceutical Inc. will post ($3.73) earnings per share for the current fiscal year.
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BMRN has been the topic of several recent analyst reports. Jefferies Group boosted their target price on BioMarin Pharmaceutical from $116.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 5th. Credit Suisse Group AG set a $111.00 target price on BioMarin Pharmaceutical and gave the stock a “buy” rating in a report on Monday, August 8th. Zacks Investment Research upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $111.00 price target on the stock in a research report on Tuesday, August 9th. Stifel Nicolaus lifted their price target on shares of BioMarin Pharmaceutical from $107.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Finally, Vetr upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $110.24 price target on the stock in a research report on Tuesday, August 2nd. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. BioMarin Pharmaceutical currently has a consensus rating of “Buy” and an average price target of $114.24.
In other BioMarin Pharmaceutical news, EVP Jeffrey Robert Ajer sold 18,467 shares of the stock in a transaction on Tuesday, September 27th. The shares were sold at an average price of $95.61, for a total value of $1,765,629.87. Following the completion of the sale, the executive vice president now owns 41,342 shares in the company, valued at $3,952,708.62. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jean Jacques Bienaime sold 137,368 shares of the firm’s stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $95.34, for a total transaction of $13,096,665.12. Following the sale, the chief executive officer now owns 421,161 shares of the company’s stock, valued at approximately $40,153,489.74. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.
BioMarin Pharmaceutical Company Profile
BioMarin Pharmaceutical Inc (BioMarin) develops and commercializes pharmaceuticals for various diseases and medical conditions. The Company’s product portfolio consists of approximately five approved products, and multiple clinical and pre-clinical product candidates. Its approved products include Vimizim (elosulfase alpha), Naglazyme (galsulfase), Kuvan (sapropterin dihydrochloride), Aldurazyme (laronidase) and Firdapse (amifampridine phosphate).
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