Point72 Asset Management L.P. lowered its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 30.7% during the first quarter, Holdings Channel reports. The fund owned 364,800 shares of the biotechnology company’s stock after selling 161,800 shares during the period. Point72 Asset Management L.P.’s holdings in BioMarin Pharmaceutical were worth $32,022,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Parallel Advisors LLC boosted its stake in BioMarin Pharmaceutical by 13.6% in the first quarter. Parallel Advisors LLC now owns 1,042 shares of the biotechnology company’s stock valued at $100,000 after buying an additional 125 shares in the last quarter. Nikko Asset Management Americas Inc. acquired a new stake in BioMarin Pharmaceutical during the first quarter valued at $114,000. Global X Management Co. LLC boosted its stake in BioMarin Pharmaceutical by 59.7% in the first quarter. Global X Management Co. LLC now owns 1,656 shares of the biotechnology company’s stock valued at $145,000 after buying an additional 619 shares in the last quarter. Toronto Dominion Bank boosted its stake in BioMarin Pharmaceutical by 27.1% in the first quarter. Toronto Dominion Bank now owns 1,881 shares of the biotechnology company’s stock valued at $165,000 after buying an additional 401 shares in the last quarter. Finally, Mutual of America Capital Management LLC boosted its stake in BioMarin Pharmaceutical by 20.0% in the first quarter. Mutual of America Capital Management LLC now owns 2,066 shares of the biotechnology company’s stock valued at $181,000 after buying an additional 344 shares in the last quarter. 96.61% of the stock is owned by hedge funds and other institutional investors.
Shares of BioMarin Pharmaceutical Inc. (NASDAQ BMRN) traded down 2.12% during mid-day trading on Friday, hitting $95.00. The stock had a trading volume of 2,318,034 shares. The company’s market capitalization is $16.58 billion. The stock’s 50-day moving average price is $90.61 and its 200 day moving average price is $88.92. BioMarin Pharmaceutical Inc. has a 1-year low of $73.45 and a 1-year high of $102.49.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Thursday, May 4th. The biotechnology company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.33. BioMarin Pharmaceutical had a negative return on equity of 22.71% and a negative net margin of 48.43%. The company had revenue of $303.70 million during the quarter, compared to analysts’ expectations of $292.58 million. During the same quarter in the previous year, the firm earned ($0.53) EPS. BioMarin Pharmaceutical’s revenue was up 28.3% on a year-over-year basis. On average, analysts predict that BioMarin Pharmaceutical Inc. will post ($0.81) EPS for the current fiscal year.
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Several research firms have recently weighed in on BMRN. ValuEngine raised BioMarin Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. J P Morgan Chase & Co set a $123.00 price objective on BioMarin Pharmaceutical and gave the company a “buy” rating in a research report on Saturday, February 25th. Instinet began coverage on BioMarin Pharmaceutical in a research report on Wednesday, March 1st. They issued a “neutral” rating and a $93.00 target price for the company. Wedbush reaffirmed a “neutral” rating and issued a $102.00 target price on shares of BioMarin Pharmaceutical in a research report on Monday, February 27th. Finally, Nomura began coverage on BioMarin Pharmaceutical in a research report on Wednesday, March 1st. They issued a “neutral” rating for the company. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. BioMarin Pharmaceutical has an average rating of “Buy” and a consensus target price of $111.69.
In other news, Director V Bryan Lawlis sold 3,750 shares of the business’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $90.00, for a total transaction of $337,500.00. Following the completion of the transaction, the director now owns 19,660 shares of the company’s stock, valued at approximately $1,769,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Henry J. Fuchs sold 15,000 shares of the business’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $90.00, for a total value of $1,350,000.00. Following the transaction, the insider now directly owns 141,422 shares of the company’s stock, valued at approximately $12,727,980. The disclosure for this sale can be found here. Insiders have sold a total of 83,399 shares of company stock valued at $7,665,289 in the last three months. 2.50% of the stock is owned by insiders.
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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