Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lessened its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 4.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,331 shares of the biotechnology company’s stock after selling 1,281 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in BioMarin Pharmaceutical were worth $2,701,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in BMRN. First Manhattan Co. boosted its stake in shares of BioMarin Pharmaceutical by 104.2% in the 4th quarter. First Manhattan Co. now owns 1,225 shares of the biotechnology company’s stock valued at $109,000 after purchasing an additional 625 shares in the last quarter. Toronto Dominion Bank boosted its stake 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 valued at $193,000 after purchasing an additional 243 shares in the last quarter. Commerce Bank acquired a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter valued at $209,000. IFG Advisory LLC acquired a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at $212,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter valued at $220,000. 98.81% of the stock is currently owned by hedge funds and other institutional investors.
BioMarin Pharmaceutical Inc. (NASDAQ BMRN) traded down $0.14 during trading on Friday, reaching $84.98. 771,590 shares of the company’s stock were exchanged, compared to its average volume of 1,390,000. 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 Inc. has a 52 week low of $78.50 and a 52 week high of $100.51. The firm has a market cap of $14,920.00, a P/E ratio of -102.39 and a beta of 1.71.
Several brokerages have recently commented on BMRN. JPMorgan Chase & Co. set a $130.00 target price on shares of BioMarin Pharmaceutical and gave the company a “buy” rating in a research note on Sunday, October 29th. Wedbush reiterated an “outperform” rating and set a $110.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, December 22nd. SunTrust Banks upped their price target on shares of BioMarin Pharmaceutical to $130.00 and gave the stock a “buy” rating in a research report on Monday, December 11th. Zacks Investment Research downgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Wednesday, January 17th. Finally, ValuEngine downgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “sell” rating in a research report on Wednesday, February 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. BioMarin Pharmaceutical has a consensus rating of “Buy” and an average price target of $111.60.
In other news, CEO Jean Jacques Bienaime sold 10,000 shares of the company’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $90.32, for a total value of $903,200.00. Following the completion of the sale, the chief executive officer now directly owns 235,894 shares of the company’s stock, valued at approximately $21,305,946.08. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP George Eric Davis sold 30,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $90.66, for a total value of $2,719,800.00. Following the completion of the sale, the executive vice president now directly owns 112,942 shares of the company’s stock, valued at $10,239,321.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,750 shares of company stock worth $8,159,588. Corporate insiders own 1.85% of the company’s stock.
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BioMarin Pharmaceutical Company 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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