Rhumbline Advisers Sells 2,841 Shares of BioMarin Pharmaceutical Inc. (BMRN)
Rhumbline Advisers reduced its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.3% during the second quarter, Holdings Channel reports. The fund owned 214,952 shares of the biotechnology company’s stock after selling 2,841 shares during the period. Rhumbline Advisers’ holdings in BioMarin Pharmaceutical were worth $19,522,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in the stock. Primecap Management Co. CA boosted 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 valued at $764,763,000 after buying an additional 826,320 shares in the last quarter. Jennison Associates LLC boosted 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 valued at $866,495,000 after buying an additional 617,001 shares in the last quarter. Vanguard Group Inc. boosted 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 valued at $1,202,796,000 after buying an additional 495,118 shares in the last quarter. Manning & Napier Advisors LLC boosted 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 valued at $192,399,000 after buying an additional 426,016 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in BioMarin Pharmaceutical during the first quarter valued at $37,416,000. 98.34% of the stock is owned by institutional investors.
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) opened at 80.98 on Friday. BioMarin Pharmaceutical Inc. has a 12-month low of $78.42 and a 12-month high of $102.06. The company’s market capitalization is $14.19 billion. The firm’s 50 day moving average price is $87.85 and its 200-day moving average price is $89.92.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.01. BioMarin Pharmaceutical had a negative return on equity of 5.77% and a negative net margin of 15.54%. The firm had revenue of $317.50 million for the quarter, compared to analysts’ expectations of $311.41 million. During the same period in the previous year, the firm earned ($2.61) earnings per share. The business’s revenue was up 5.8% compared to the same quarter last year. On average, equities analysts anticipate that BioMarin Pharmaceutical Inc. will post ($0.72) earnings per share for the current fiscal year.
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Several equities research analysts recently weighed in on the stock. Deutsche Bank AG reaffirmed a “buy” rating and set a $119.00 price objective (up previously from $118.00) on shares of BioMarin Pharmaceutical in a research report on Wednesday, August 9th. Wedbush reaffirmed a “neutral” rating and set a $108.00 price objective on shares of BioMarin Pharmaceutical in a research report on Monday, August 7th. BidaskClub cut shares of BioMarin Pharmaceutical from a “sell” rating to a “strong sell” rating in a research report on Thursday. UBS AG reaffirmed a “neutral” rating and set a $93.00 price objective (up previously from $92.00) on shares of BioMarin Pharmaceutical in a research report on Thursday, August 3rd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $107.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $109.73.
In related news, EVP George Eric Davis sold 9,471 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $91.04, for a total value of $862,239.84. Following the sale, the executive vice president now directly owns 74,342 shares of the company’s stock, valued at $6,768,095.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Brian Mueller sold 2,671 shares of the company’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $100.00, for a total value of $267,100.00. Following the completion of the sale, the senior vice president now directly owns 15,556 shares in the company, valued at $1,555,600. The disclosure for this sale can be found here. Insiders have sold 56,740 shares of company stock worth $5,200,939 over the last three months. Insiders own 2.50% of the company’s stock.
BioMarin Pharmaceutical Company 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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