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 0th highest net out-flow for the day. BioMarin Pharmaceutical traded up $0.40 for the day and closed at $90.89
BMRN has been the topic of several analyst reports. Sanford C. Bernstein initiated coverage on BioMarin Pharmaceutical in a report on Thursday, July 27th. They set a “market perform” rating and a $89.00 price objective on the stock. Evercore ISI initiated coverage on BioMarin Pharmaceutical in a report on Wednesday, August 16th. They set an “outperform” rating and a $100.00 price objective on the stock. SunTrust Banks, Inc. restated a “buy” rating and set a $115.00 price objective on shares of BioMarin Pharmaceutical in a report on Friday, July 14th. Cowen and Company restated a “buy” rating and set a $150.00 price objective on shares of BioMarin Pharmaceutical in a report on Monday, May 15th. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $100.00 price target (down from $105.00) on shares of BioMarin Pharmaceutical in a report on Saturday, July 22nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $109.22.
The stock has a 50-day moving average price of $86.03 and a 200 day moving average price of $89.49. The firm’s market capitalization is $15.85 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share for the quarter, beating the Zacks’ 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 during the quarter, compared to analysts’ expectations of $311.41 million. During the same period last year, the firm posted ($2.61) EPS. The business’s revenue was up 5.8% on a year-over-year basis. Equities research analysts expect that BioMarin Pharmaceutical Inc. will post ($0.71) earnings per share for the current fiscal year.
In other BioMarin Pharmaceutical news, Director V Bryan Lawlis sold 3,750 shares of the stock in a transaction on 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 directly owns 19,660 shares in the company, valued at approximately $1,769,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Brian Mueller sold 2,671 shares of the stock in a transaction on 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 $1,555,600. The disclosure for this sale can be found here. Insiders have sold a total of 31,265 shares of company stock valued at $2,905,530 over the last ninety days. Insiders own 2.50% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Aperio Group LLC boosted its position in BioMarin Pharmaceutical by 9.7% in the 2nd quarter. Aperio Group LLC now owns 56,491 shares of the biotechnology company’s stock valued at $5,131,000 after buying an additional 5,006 shares during the last quarter. Emory University boosted its position in BioMarin Pharmaceutical by 3.2% in the 1st quarter. Emory University now owns 23,791 shares of the biotechnology company’s stock valued at $2,088,000 after buying an additional 744 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in BioMarin Pharmaceutical by 11.3% in the 1st quarter. UBS Asset Management Americas Inc. now owns 1,087,995 shares of the biotechnology company’s stock valued at $95,504,000 after buying an additional 110,504 shares during the last quarter. Swiss National Bank boosted its position in BioMarin Pharmaceutical by 3.6% in the 2nd quarter. Swiss National Bank now owns 631,600 shares of the biotechnology company’s stock valued at $57,362,000 after buying an additional 22,200 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its position in BioMarin Pharmaceutical by 1.4% in the 1st quarter. William Blair Investment Management LLC now owns 1,123,928 shares of the biotechnology company’s stock valued at $98,658,000 after buying an additional 15,687 shares during the last quarter. Hedge funds and other institutional investors own 97.42% of the company’s stock.
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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