Manning & Napier Advisors LLC lowered its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 2.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,065,710 shares of the biotechnology company’s stock after selling 52,776 shares during the period. BioMarin Pharmaceutical accounts for about 1.6% of Manning & Napier Advisors LLC’s investment portfolio, making the stock its 20th largest holding. Manning & Napier Advisors LLC owned about 1.18% of BioMarin Pharmaceutical worth $192,254,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in BMRN. Korea Investment CORP raised its position in shares of BioMarin Pharmaceutical by 143.5% in 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. Global X Management Co. LLC raised its position in shares of BioMarin Pharmaceutical by 16.8% in the 2nd quarter. Global X Management Co. LLC now owns 1,935 shares of the biotechnology company’s stock worth $176,000 after acquiring an additional 279 shares in the last quarter. Toronto Dominion Bank raised its position in shares of BioMarin Pharmaceutical by 12.9% in the 2nd quarter. Toronto Dominion Bank now owns 2,124 shares of the biotechnology company’s stock worth $193,000 after acquiring an additional 243 shares in the last quarter. Commerce Bank bought a new position in shares of BioMarin Pharmaceutical in the 3rd quarter worth approximately $209,000. Finally, Cambridge Investment Research Advisors Inc. bought a new position in shares of BioMarin Pharmaceutical in the 2nd quarter worth approximately $213,000. 96.89% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently issued reports on BMRN. Zacks Investment Research lowered BioMarin Pharmaceutical from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. The Goldman Sachs Group, Inc. reissued a “buy” rating and issued a $129.00 target price on shares of BioMarin Pharmaceutical in a research report on Friday, October 6th. Morgan Stanley reaffirmed an “overweight” rating and set a $117.00 price objective (up previously from $115.00) on shares of BioMarin Pharmaceutical in a research report on Friday, October 6th. Jefferies Group LLC reaffirmed a “buy” rating and set a $116.00 price objective on shares of BioMarin Pharmaceutical in a research report on Tuesday, September 26th. Finally, Piper Jaffray Companies began coverage on BioMarin Pharmaceutical in a research report on Thursday, September 14th. They set an “overweight” rating and a $113.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $111.55.
Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) traded up $0.64 during mid-day trading on Friday, hitting $83.20. The stock had a trading volume of 549,248 shares, compared to its average volume of 1,246,300. BioMarin Pharmaceutical Inc. has a 1 year low of $79.50 and a 1 year high of $100.51. The company has a current ratio of 4.91, a quick ratio of 3.81 and a debt-to-equity ratio of 0.41.
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, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.06. BioMarin Pharmaceutical had a negative return on equity of 4.60% and a negative net margin of 12.45%. The firm had revenue of $334.18 million for the quarter, compared to analysts’ expectations of $347.38 million. During the same period in the previous year, the firm posted $0.02 earnings per share. The business’s revenue was up 19.4% compared to the same quarter last year. analysts predict that BioMarin Pharmaceutical Inc. will post -0.66 EPS for the current year.
In other BioMarin Pharmaceutical news, EVP Jeffrey Robert Ajer sold 3,521 shares of the business’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $95.00, for a total transaction of $334,495.00. Following the sale, the executive vice president now directly owns 49,299 shares of the company’s stock, valued at $4,683,405. The sale 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 business’s stock in a transaction that occurred on Friday, September 15th. The shares were 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 approximately $12,798,691. The disclosure for this sale can be found here. Insiders sold 40,686 shares of company stock worth $3,736,318 over the last ninety days. Insiders own 1.85% 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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