Traders Sell Shares of BioMarin Pharmaceutical Inc. (BMRN) on Strength (BMRN)
Traders sold shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) on strength during trading hours on Wednesday. $0.96 million flowed into the stock on the tick-up and $6.28 million flowed out of the stock on the tick-down, for a money net flow of $5.32 million out of the stock. Of all stocks tracked, BioMarin Pharmaceutical had the 13th highest net out-flow for the day. BioMarin Pharmaceutical traded up $0.40 for the day and closed at $90.89
A number of research analysts have recently weighed in on the company. Citigroup Inc. assumed coverage on BioMarin Pharmaceutical in a research report on Thursday, August 31st. They issued a “buy” rating and a $98.00 price target for the company. Jefferies Group LLC set a $116.00 price target on BioMarin Pharmaceutical and gave the company a “buy” rating in a research report on Friday, August 25th. BidaskClub cut BioMarin Pharmaceutical from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. Evercore ISI assumed coverage on BioMarin Pharmaceutical in a research report on Wednesday, August 16th. They issued an “outperform” rating and a $100.00 price target for the company. Finally, Deutsche Bank AG restated a “buy” rating and issued a $119.00 price target (up previously from $118.00) on shares of BioMarin Pharmaceutical in a research report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $109.22.
The firm’s market cap is $15.75 billion. The stock has a 50 day moving average price of $85.94 and a 200 day moving average price of $89.48.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $311.41 million. During the same quarter in the previous year, the company posted ($2.61) earnings per share. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, equities research analysts predict that BioMarin Pharmaceutical Inc. will post ($0.72) earnings per share for the current year.
In other BioMarin Pharmaceutical news, Director V Bryan Lawlis sold 3,750 shares of the business’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $90.00, for a total value of $337,500.00. Following the transaction, the director now owns 19,660 shares in the company, valued at $1,769,400. The sale was disclosed in a filing 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 dated Thursday, June 22nd. The shares were sold at an average price of $100.00, for a total value of $267,100.00. Following the completion of the transaction, the senior vice president now owns 15,556 shares in the company, valued at approximately $1,555,600. The disclosure for this sale can be found here. Insiders sold 31,265 shares of company stock worth $2,905,530 in the last 90 days. Corporate insiders own 2.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of BMRN. Parallel Advisors LLC boosted its stake in shares of BioMarin Pharmaceutical by 13.6% during the 1st quarter. Parallel Advisors LLC now owns 1,042 shares of the biotechnology company’s stock worth $100,000 after acquiring an additional 125 shares in the last quarter. Global X Management Co. LLC boosted its stake in shares of BioMarin Pharmaceutical by 59.7% during the 1st quarter. Global X Management Co. LLC now owns 1,656 shares of the biotechnology company’s stock worth $145,000 after acquiring an additional 619 shares in the last quarter. Korea Investment CORP boosted its stake in shares of BioMarin Pharmaceutical by 143.5% during the 2nd quarter. Korea Investment CORP now owns 1,595 shares of the biotechnology company’s stock worth $145,000 after acquiring an additional 940 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of BioMarin Pharmaceutical by 27.1% during the 1st quarter. Toronto Dominion Bank now owns 1,881 shares of the biotechnology company’s stock worth $165,000 after acquiring an additional 401 shares in the last quarter. Finally, Mutual of America Capital Management LLC boosted its stake in shares of BioMarin Pharmaceutical by 20.0% during the 1st quarter. Mutual of America Capital Management LLC now owns 2,066 shares of the biotechnology company’s stock worth $181,000 after acquiring an additional 344 shares in the last quarter. Hedge funds and other institutional investors own 97.42% of the company’s stock.
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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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