Los Angeles Capital Management & Equity Research Inc. Takes $3.02 Million Position in BioMarin Pharmaceutical Inc. (BMRN)
Los Angeles Capital Management & Equity Research Inc. purchased a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 33,194 shares of the biotechnology company’s stock, valued at approximately $3,015,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Parallel Advisors LLC increased its position in BioMarin Pharmaceutical by 13.6% in the first quarter. Parallel Advisors LLC now owns 1,042 shares of the biotechnology company’s stock worth $100,000 after buying an additional 125 shares in the last quarter. Korea Investment CORP increased its position in BioMarin Pharmaceutical by 143.5% in the second quarter. Korea Investment CORP now owns 1,595 shares of the biotechnology company’s stock worth $145,000 after buying an additional 940 shares in the last quarter. Global X Management Co. LLC increased its position in BioMarin Pharmaceutical by 59.7% in the first quarter. Global X Management Co. LLC now owns 1,656 shares of the biotechnology company’s stock worth $145,000 after buying an additional 619 shares in the last quarter. Mutual of America Capital Management LLC increased its position in BioMarin Pharmaceutical by 20.0% in the first quarter. Mutual of America Capital Management LLC now owns 2,066 shares of the biotechnology company’s stock worth $181,000 after buying an additional 344 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in BioMarin Pharmaceutical in the second quarter worth about $213,000. Institutional investors and hedge funds own 97.42% of the company’s stock.
A number of analysts have commented on BMRN shares. Leerink Swann restated a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Tuesday, July 18th. Zacks Investment Research upgraded BioMarin Pharmaceutical from a “hold” rating to a “strong-buy” rating and set a $105.00 price target for the company in a research report on Monday, July 17th. Cowen and Company restated a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Tuesday, July 11th. Citigroup Inc. started 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. Finally, BidaskClub cut BioMarin Pharmaceutical from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the company. BioMarin Pharmaceutical presently has a consensus rating of “Hold” and a consensus price target of $110.48.
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Shares of BioMarin Pharmaceutical Inc. (NASDAQ BMRN) opened at 91.25 on Friday. BioMarin Pharmaceutical Inc. has a 1-year low of $78.42 and a 1-year high of $101.27. The company’s market capitalization is $15.99 billion. The stock has a 50 day moving average price of $86.36 and a 200 day moving average price of $89.56.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 5.77% and a negative net margin of 15.54%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($2.61) earnings per share. On average, equities analysts anticipate that BioMarin Pharmaceutical Inc. will post ($0.70) EPS for the current fiscal year.
In related news, EVP George Eric Davis sold 9,844 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $96.60, for a total value of $950,930.40. Following the transaction, the executive vice president now directly owns 93,425 shares in the company, valued at $9,024,855. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Henry J. Fuchs sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $90.00, for a total value of $1,350,000.00. Following the completion of the transaction, the insider now owns 141,422 shares in the company, valued at $12,727,980. The disclosure for this sale can be found here. Insiders sold 27,515 shares of company stock valued at $2,568,030 over the last 90 days. Company insiders own 2.50% of the company’s stock.
BioMarin Pharmaceutical 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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