Atlantic Trust Group LLC decreased its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 23.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,340 shares of the biotechnology company’s stock after selling 6,533 shares during the quarter. Atlantic Trust Group LLC’s holdings in BioMarin Pharmaceutical were worth $1,730,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Palo Alto Investors LP raised its holdings in BioMarin Pharmaceutical by 1.9% in the first quarter. Palo Alto Investors LP now owns 2,545,482 shares of the biotechnology company’s stock worth $206,362,000 after purchasing an additional 47,676 shares in the last quarter. Palo Alto Investors LLC raised its holdings in BioMarin Pharmaceutical by 2.4% in the fourth quarter. Palo Alto Investors LLC now owns 2,497,806 shares of the biotechnology company’s stock worth $222,729,000 after purchasing an additional 59,287 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of BioMarin Pharmaceutical by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 1,446,179 shares of the biotechnology company’s stock worth $128,882,000 after acquiring an additional 19,011 shares during the last quarter. USS Investment Management Ltd grew its stake in shares of BioMarin Pharmaceutical by 22.9% in the first quarter. USS Investment Management Ltd now owns 1,339,671 shares of the biotechnology company’s stock worth $111,869,000 after acquiring an additional 249,738 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in shares of BioMarin Pharmaceutical by 581.0% in the first quarter. Thrivent Financial for Lutherans now owns 1,224,776 shares of the biotechnology company’s stock worth $99,293,000 after acquiring an additional 1,044,921 shares during the last quarter.
In other BioMarin Pharmaceutical news, insider Henry J. Fuchs sold 10,000 shares of the stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $80.12, for a total value of $801,200.00. Following the transaction, the insider now owns 160,026 shares of the company’s stock, valued at $12,821,283.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jean Jacques Bienaime sold 37,500 shares of the stock in a transaction dated Tuesday, May 15th. The shares were sold at an average price of $88.75, for a total value of $3,328,125.00. Following the completion of the transaction, the chief executive officer now directly owns 309,350 shares in the company, valued at approximately $27,454,812.50. The disclosure for this sale can be found here. Insiders have sold 189,238 shares of company stock worth $16,679,081 over the last ninety days. 1.90% of the stock is currently owned by insiders.
BioMarin Pharmaceutical opened at $91.72 on Thursday, Marketbeat reports. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.29 and a current ratio of 2.90. BioMarin Pharmaceutical Inc. has a one year low of $75.81 and a one year high of $99.76. The firm has a market cap of $16.77 billion, a P/E ratio of -136.90 and a beta of 1.71.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Wednesday, April 25th. The biotechnology company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.08). BioMarin Pharmaceutical had a negative net margin of 10.48% and a negative return on equity of 3.01%. The business had revenue of $373.45 million for the quarter, compared to analysts’ expectations of $348.73 million. During the same period last year, the business earned $0.20 earnings per share. The company’s quarterly revenue was up 22.9% on a year-over-year basis. equities analysts anticipate that BioMarin Pharmaceutical Inc. will post -0.12 EPS for the current fiscal year.
A number of equities research analysts have recently commented on BMRN shares. JPMorgan Chase & Co. set a $127.00 target price on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research note on Thursday, April 26th. ValuEngine raised BioMarin Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Monday, May 28th. Canaccord Genuity increased their target price on BioMarin Pharmaceutical from $101.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, May 25th. Zacks Investment Research raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a research note on Tuesday, April 24th. Finally, Leerink Swann increased their target price on BioMarin Pharmaceutical from $132.00 to $145.00 and gave the stock an “outperform” rating in a research note on Monday, May 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $112.50.
BioMarin Pharmaceutical Profile
BioMarin Pharmaceutical, Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme that is used for the treatment of patients with mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Firdapse for Lambert Eaton Myasthenic Syndrome.
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