EFG Asset Management Americas Corp. lessened its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 34,164 shares of the biotechnology company’s stock after selling 492 shares during the period. EFG Asset Management Americas Corp.’s holdings in BioMarin Pharmaceutical were worth $2,303,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its position in BioMarin Pharmaceutical by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 15,957,672 shares of the biotechnology company’s stock valued at $1,366,775,000 after buying an additional 247,798 shares during the period. Primecap Management Co. CA boosted its position in BioMarin Pharmaceutical by 0.7% in the 2nd quarter. Primecap Management Co. CA now owns 14,283,753 shares of the biotechnology company’s stock valued at $1,223,403,000 after buying an additional 92,880 shares during the period. Nuveen Asset Management LLC purchased a new position in BioMarin Pharmaceutical in the 2nd quarter valued at approximately $258,055,000. Northern Trust Corp boosted its position in BioMarin Pharmaceutical by 1.2% in the 2nd quarter. Northern Trust Corp now owns 1,216,263 shares of the biotechnology company’s stock valued at $104,174,000 after buying an additional 13,949 shares during the period. Finally, York Capital Management Global Advisors LLC purchased a new position in BioMarin Pharmaceutical in the 2nd quarter valued at approximately $95,648,000. 97.62% of the stock is owned by institutional investors.
In other BioMarin Pharmaceutical news, Director V Bryan Lawlis sold 3,750 shares of BioMarin Pharmaceutical stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $74.47, for a total value of $279,262.50. Following the transaction, the director now directly owns 27,340 shares in the company, valued at $2,036,009.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jean Jacques Bienaime sold 5,000 shares of BioMarin Pharmaceutical stock in a transaction on Friday, October 25th. The shares were sold at an average price of $69.55, for a total transaction of $347,750.00. Following the completion of the transaction, the chief executive officer now owns 332,520 shares in the company, valued at $23,126,766. The disclosure for this sale can be found here. Insiders own 1.97% of the company’s stock.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Wednesday, October 23rd. The biotechnology company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.25. The company had revenue of $461.10 million for the quarter, compared to analyst estimates of $455.78 million. BioMarin Pharmaceutical had a negative net margin of 2.65% and a negative return on equity of 1.35%. BioMarin Pharmaceutical’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.07) earnings per share. As a group, sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 0.01 EPS for the current fiscal year.
Several equities analysts have commented on the stock. JPMorgan Chase & Co. reissued a “buy” rating and issued a $133.00 price target on shares of BioMarin Pharmaceutical in a research report on Monday, August 5th. Wedbush lifted their price objective on shares of BioMarin Pharmaceutical from $128.00 to $152.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Barclays decreased their price objective on shares of BioMarin Pharmaceutical from $95.00 to $86.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Zacks Investment Research cut shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating and set a $79.00 price objective for the company. in a research report on Wednesday, November 6th. Finally, Stifel Nicolaus set a $108.00 price objective on shares of BioMarin Pharmaceutical and gave the stock a “buy” rating in a research report on Friday, September 13th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. BioMarin Pharmaceutical currently has a consensus rating of “Buy” and a consensus target price of $106.53.
About BioMarin Pharmaceutical
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 to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.
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