BioMarin Pharmaceutical Inc. (BMRN) Shares Bought by Legal & General Group Plc
Legal & General Group Plc lifted its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 3.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 749,150 shares of the biotechnology company’s stock after buying an additional 27,752 shares during the quarter. Legal & General Group Plc owned approximately 0.43% of BioMarin Pharmaceutical worth $69,723,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of BioMarin Pharmaceutical by 4.7% during the 2nd quarter. Vanguard Group Inc. now owns 14,345,027 shares of the biotechnology company’s stock worth $1,302,816,000 after buying an additional 642,623 shares during the period. Jennison Associates LLC raised 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 valued at $1,202,709,000 after purchasing an additional 3,348,168 shares during the last quarter. TIAA CREF Investment Management LLC raised 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 valued at $204,437,000 after purchasing an additional 875,686 shares during the last quarter. Pictet Asset Management Ltd. raised its stake in BioMarin Pharmaceutical by 17.0% in the 3rd quarter. Pictet Asset Management Ltd. now owns 1,134,622 shares of the biotechnology company’s stock valued at $105,599,000 after purchasing an additional 164,788 shares during the last quarter. Finally, Northern Trust Corp raised its stake in BioMarin Pharmaceutical by 2.9% in the 2nd quarter. Northern Trust Corp now owns 1,097,571 shares of the biotechnology company’s stock valued at $99,682,000 after purchasing an additional 31,113 shares during the last quarter. 99.26% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently commented on the company. Wedbush reissued a “neutral” rating and issued a $108.00 price objective on shares of BioMarin Pharmaceutical in a research note on Monday, August 7th. Evercore ISI assumed coverage on BioMarin Pharmaceutical in a research note on Wednesday, August 16th. They issued an “outperform” rating and a $100.00 price objective for the company. Leerink Swann reissued an “outperform” rating and issued a $142.00 price objective (up from $136.00) on shares of BioMarin Pharmaceutical in a research note on Thursday, October 19th. Piper Jaffray Companies reissued a “buy” rating and issued a $113.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, September 21st. Finally, SunTrust Banks set a $115.00 price objective on BioMarin Pharmaceutical and gave the company a “buy” rating in a research note on Thursday, October 19th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the stock. BioMarin Pharmaceutical has a consensus rating of “Hold” and a consensus target price of $111.59.
Shares of BioMarin Pharmaceutical Inc. (BMRN) opened at $85.00 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.91 and a quick ratio of 3.81. BioMarin Pharmaceutical Inc. has a twelve month low of $79.50 and a twelve month high of $100.51.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Thursday, October 26th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.06. The company had revenue of $334.18 million during the quarter, compared to analysts’ expectations of $347.38 million. BioMarin Pharmaceutical had a negative return on equity of 4.60% and a negative net margin of 12.45%. The firm’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.02 EPS. equities analysts anticipate that BioMarin Pharmaceutical Inc. will post -0.65 EPS for the current fiscal year.
In other news, Director V Bryan Lawlis sold 3,750 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $91.26, for a total transaction of $342,225.00. Following the completion of the transaction, the director now directly owns 19,660 shares in the company, valued at approximately $1,794,171.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Henry J. Fuchs sold 15,000 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $90.50, for a total value of $1,357,500.00. Following the transaction, the insider now owns 141,422 shares of the company’s stock, valued at $12,798,691. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,686 shares of company stock valued at $3,736,318. 1.85% of the stock is owned by company insiders.
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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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