Natixis Advisors L.P. trimmed its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Free Report) by 2.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 60,958 shares of the biotechnology company’s stock after selling 1,387 shares during the period. Natixis Advisors L.P.’s holdings in BioMarin Pharmaceutical were worth $5,928,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Grey Fox Wealth Advisors LLC bought a new position in shares of BioMarin Pharmaceutical in the fourth quarter worth about $31,000. ICA Group Wealth Management LLC bought a new position in shares of BioMarin Pharmaceutical in the fourth quarter worth about $31,000. Acadian Asset Management LLC raised its stake in shares of BioMarin Pharmaceutical by 395.4% in the first quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company’s stock worth $32,000 after buying an additional 344 shares during the period. Allworth Financial LP raised its stake in shares of BioMarin Pharmaceutical by 57.5% in the first quarter. Allworth Financial LP now owns 356 shares of the biotechnology company’s stock worth $35,000 after buying an additional 130 shares during the period. Finally, MayTech Global Investments LLC bought a new position in shares of BioMarin Pharmaceutical in the fourth quarter worth about $36,000. 92.78% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
BMRN has been the topic of several recent analyst reports. 500.com reissued a “reiterates” rating on shares of BioMarin Pharmaceutical in a research note on Friday, June 30th. Morgan Stanley decreased their target price on BioMarin Pharmaceutical from $129.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 1st. Scotiabank initiated coverage on BioMarin Pharmaceutical in a research note on Thursday, July 27th. They set a “sector perform” rating and a $95.00 target price on the stock. Wedbush reduced their price objective on BioMarin Pharmaceutical from $73.00 to $70.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 1st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $120.00 price objective on shares of BioMarin Pharmaceutical in a research note on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $115.00.
BioMarin Pharmaceutical Price Performance
BMRN opened at $93.81 on Thursday. The business has a fifty day moving average of $89.07 and a 200 day moving average of $93.32. BioMarin Pharmaceutical Inc. has a 52-week low of $80.53 and a 52-week high of $117.77. The company has a quick ratio of 3.31, a current ratio of 4.94 and a debt-to-equity ratio of 0.23. The stock has a market cap of $17.65 billion, a P/E ratio of 180.41 and a beta of 0.37.
BioMarin Pharmaceutical (NASDAQ:BMRN – Get Free Report) last posted its quarterly earnings data on Monday, July 31st. The biotechnology company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.10. BioMarin Pharmaceutical had a return on equity of 4.03% and a net margin of 4.47%. The company had revenue of $595.28 million during the quarter, compared to analysts’ expectations of $591.46 million. As a group, sell-side analysts anticipate that BioMarin Pharmaceutical Inc. will post 1.25 EPS for the current year.
Insiders Place Their Bets
In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 11,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $89.42, for a total value of $983,620.00. Following the completion of the sale, the executive vice president now directly owns 69,474 shares in the company, valued at approximately $6,212,365.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP George Eric Davis sold 11,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $89.42, for a total value of $983,620.00. Following the completion of the transaction, the executive vice president now directly owns 69,474 shares of the company’s stock, valued at approximately $6,212,365.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jean Jacques Bienaime sold 4,000 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $88.10, for a total value of $352,400.00. Following the completion of the transaction, the chief executive officer now directly owns 428,732 shares of the company’s stock, valued at $37,771,289.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,000 shares of company stock worth $2,871,180. 1.84% of the stock is currently owned by company insiders.
BioMarin Pharmaceutical Company Profile
BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; 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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