Eagle Asset Management Inc. Raises Position in BioMarin Pharmaceutical Inc. (BMRN)
Eagle Asset Management Inc. raised its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 4.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 320,064 shares of the biotechnology company’s stock after buying an additional 13,711 shares during the period. Eagle Asset Management Inc. owned about 0.18% of BioMarin Pharmaceutical worth $29,999,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of BMRN. Jennison Associates LLC boosted its stake in BioMarin Pharmaceutical by 33.8% in the 2nd quarter. Jennison Associates LLC now owns 13,242,773 shares of the biotechnology company’s stock worth $1,202,709,000 after purchasing an additional 3,348,168 shares during the period. TIAA CREF Investment Management LLC boosted its stake in BioMarin Pharmaceutical by 63.7% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 2,251,011 shares of the biotechnology company’s stock worth $204,437,000 after purchasing an additional 875,686 shares during the period. USS Investment Management Ltd boosted its stake in BioMarin Pharmaceutical by 214.7% in the 2nd quarter. USS Investment Management Ltd now owns 1,089,933 shares of the biotechnology company’s stock worth $98,988,000 after purchasing an additional 743,599 shares during the period. Vanguard Group Inc. boosted its stake in BioMarin Pharmaceutical by 4.7% in the 2nd quarter. Vanguard Group Inc. now owns 14,345,027 shares of the biotechnology company’s stock worth $1,302,816,000 after purchasing an additional 642,623 shares during the period. Finally, Teachers Advisors LLC boosted its stake in BioMarin Pharmaceutical by 41.7% in the 2nd quarter. Teachers Advisors LLC now owns 973,291 shares of the biotechnology company’s stock worth $88,394,000 after purchasing an additional 286,249 shares during the period. Hedge funds and other institutional investors own 99.31% of the company’s stock.
BMRN has been the subject of a number of recent analyst reports. BMO Capital Markets reaffirmed a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Friday, September 15th. Citigroup started coverage on shares of BioMarin Pharmaceutical in a research report on Thursday, August 31st. They issued a “buy” rating and a $98.00 target price for the company. Jefferies Group set a $116.00 target price on shares of BioMarin Pharmaceutical and gave the stock a “buy” rating in a research report on Friday, August 25th. Deutsche Bank reiterated a “buy” rating and issued a $119.00 target price (up previously from $118.00) on shares of BioMarin Pharmaceutical in a research report on Wednesday, August 9th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $107.00 target price on shares of BioMarin Pharmaceutical in a research report on Friday, August 4th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company. BioMarin Pharmaceutical currently has an average rating of “Hold” and an average price target of $111.59.
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) opened at $83.27 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.81 and a current ratio of 4.91. BioMarin Pharmaceutical Inc. has a twelve month low of $79.50 and a twelve month high of $100.51.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Thursday, October 26th. The biotechnology company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.06. The business had revenue of $334.18 million for the quarter, compared to the consensus estimate of $347.38 million. BioMarin Pharmaceutical had a negative net margin of 12.45% and a negative return on equity of 4.60%. BioMarin Pharmaceutical’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.02 EPS. equities analysts forecast that BioMarin Pharmaceutical Inc. will post -0.65 earnings per share for the current year.
In other news, insider Henry J. Fuchs sold 15,000 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $90.50, for a total transaction of $1,357,500.00. Following the transaction, the insider now owns 141,422 shares in the company, valued at approximately $12,798,691. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert Baffi sold 18,415 shares of the firm’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $92.43, for a total transaction of $1,702,098.45. Following the transaction, the executive vice president now owns 129,083 shares in the company, valued at approximately $11,931,141.69. The disclosure for this sale can be found here. Insiders have sold a total of 40,686 shares of company stock worth $3,736,318 in the last 90 days. 1.85% of the stock is owned by insiders.
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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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