DekaBank Deutsche Girozentrale Sells 24,087 Shares of BioMarin Pharmaceutical Inc. (BMRN)
DekaBank Deutsche Girozentrale decreased its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 13.5% during the second quarter, Holdings Channel reports. The firm owned 154,664 shares of the biotechnology company’s stock after selling 24,087 shares during the period. DekaBank Deutsche Girozentrale’s holdings in BioMarin Pharmaceutical were worth $13,991,000 as of its most recent filing with the SEC.
Several other large investors have also bought and sold shares of BMRN. Primecap Management Co. CA increased its stake in BioMarin Pharmaceutical by 10.5% in the first quarter. Primecap Management Co. CA now owns 8,712,268 shares of the biotechnology company’s stock worth $764,763,000 after buying an additional 826,320 shares during the period. Jennison Associates LLC increased its stake in BioMarin Pharmaceutical by 6.7% in the first quarter. Jennison Associates LLC now owns 9,871,207 shares of the biotechnology company’s stock worth $866,495,000 after buying an additional 617,001 shares during the period. Vanguard Group Inc. increased its stake in BioMarin Pharmaceutical by 3.7% in the first quarter. Vanguard Group Inc. now owns 13,702,404 shares of the biotechnology company’s stock worth $1,202,796,000 after buying an additional 495,118 shares during the period. Manning & Napier Advisors LLC increased its stake in BioMarin Pharmaceutical by 25.2% in the second quarter. Manning & Napier Advisors LLC now owns 2,118,486 shares of the biotechnology company’s stock worth $192,399,000 after buying an additional 426,016 shares during the period. Finally, MARSHALL WACE ASIA Ltd acquired a new stake in BioMarin Pharmaceutical during the first quarter worth $37,416,000. 96.82% of the stock is owned by institutional investors and hedge funds.
BioMarin Pharmaceutical Inc. (NASDAQ BMRN) opened at 82.40 on Friday. The company’s 50-day moving average is $89.00 and its 200 day moving average is $89.99. The firm’s market cap is $14.44 billion. BioMarin Pharmaceutical Inc. has a one year low of $78.42 and a one year high of $102.06.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.01. The business had revenue of $317.50 million during the quarter, compared to analyst estimates of $311.41 million. BioMarin Pharmaceutical had a negative net margin of 15.54% and a negative return on equity of 5.77%. BioMarin Pharmaceutical’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($2.61) EPS. Equities analysts anticipate that BioMarin Pharmaceutical Inc. will post ($0.71) earnings per share for the current year.
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BMRN has been the subject of a number of recent research reports. Credit Suisse Group reissued a “buy” rating and set a $116.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, April 28th. J P Morgan Chase & Co reissued a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Monday, May 1st. Zacks Investment Research raised shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $107.00 price target for the company in a research note on Monday, May 1st. Cowen and Company reissued a “buy” rating and set a $150.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, May 5th. Finally, Leerink Swann reaffirmed a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $110.20.
In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 9,844 shares of the business’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $96.60, for a total transaction of $950,930.40. Following the completion of the sale, the executive vice president now owns 93,425 shares in the company, valued at approximately $9,024,855. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Brian Mueller sold 2,671 shares of the business’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $100.00, for a total transaction of $267,100.00. Following the sale, the senior vice president now owns 15,556 shares of the company’s stock, valued at approximately $1,555,600. The disclosure for this sale can be found here. Insiders have sold a total of 61,740 shares of company stock valued at $5,659,589 in the last 90 days. 2.50% of the stock is currently owned by company insiders.
About BioMarin Pharmaceutical
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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