Toronto Dominion Bank Sells 2,705 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Posted by Defense World Staff on Sep 3rd, 2023

Toronto Dominion Bank decreased its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Free Report) by 4.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 54,286 shares of the biotechnology company’s stock after selling 2,705 shares during the period. Toronto Dominion Bank’s holdings in BioMarin Pharmaceutical were worth $5,276,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in BMRN. Raymond James Financial Services Advisors Inc. increased its position in BioMarin Pharmaceutical by 225.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 16,838 shares of the biotechnology company’s stock valued at $1,298,000 after purchasing an additional 11,672 shares during the period. American Century Companies Inc. increased its position in BioMarin Pharmaceutical by 64.6% during the 1st quarter. American Century Companies Inc. now owns 11,312 shares of the biotechnology company’s stock valued at $872,000 after purchasing an additional 4,440 shares during the period. Cetera Advisor Networks LLC increased its position in BioMarin Pharmaceutical by 38.3% during the 1st quarter. Cetera Advisor Networks LLC now owns 5,525 shares of the biotechnology company’s stock valued at $426,000 after purchasing an additional 1,530 shares during the period. PNC Financial Services Group Inc. increased its position in BioMarin Pharmaceutical by 14.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,362 shares of the biotechnology company’s stock valued at $644,000 after purchasing an additional 1,055 shares during the period. Finally, Acadian Asset Management LLC grew its position in shares of BioMarin Pharmaceutical by 395.4% in the 1st 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 last quarter. Hedge funds and other institutional investors own 92.78% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ BMRN opened at $93.03 on Friday. The company has a current ratio of 4.94, a quick ratio of 3.31 and a debt-to-equity ratio of 0.23. BioMarin Pharmaceutical Inc. has a 12 month low of $80.53 and a 12 month high of $117.77. The company has a 50 day simple moving average of $88.98 and a two-hundred day simple moving average of $93.08. The stock has a market cap of $17.51 billion, a price-to-earnings ratio of 178.91 and a beta of 0.37.

BioMarin Pharmaceutical (NASDAQ:BMRN – Get Free Report) last posted its earnings results on Monday, July 31st. The biotechnology company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.10. BioMarin Pharmaceutical had a net margin of 4.47% and a return on equity of 4.03%. The firm had revenue of $595.28 million during the quarter, compared to analysts’ expectations of $591.46 million. As a group, analysts predict that BioMarin Pharmaceutical Inc. will post 1.25 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BMRN. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $120.00 price objective on shares of BioMarin Pharmaceutical in a research report on Tuesday, August 1st. Citigroup cut their price objective on shares of BioMarin Pharmaceutical from $103.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, June 30th. Wedbush cut their price objective on shares of BioMarin Pharmaceutical from $73.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 1st. Truist Financial lifted their price objective on shares of BioMarin Pharmaceutical from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, June 30th. Finally, 500.com reaffirmed a “reiterates” rating on shares of BioMarin Pharmaceutical in a research report on Friday, June 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.00.

Read Our Latest Report on BioMarin Pharmaceutical

Insider Activity at BioMarin Pharmaceutical

In related news, insider Henry J. Fuchs sold 12,000 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $90.43, for a total value of $1,085,160.00. Following the completion of the transaction, the insider now directly owns 176,187 shares in the company, valued at approximately $15,932,590.41. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 11,000 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $89.42, for a total transaction of $983,620.00. Following the transaction, the executive vice president now directly owns 69,474 shares of the company’s stock, valued at $6,212,365.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Henry J. Fuchs sold 12,000 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $90.43, for a total transaction of $1,085,160.00. Following the transaction, the insider now directly owns 176,187 shares in the company, valued at $15,932,590.41. The disclosure for this sale can be found here. Insiders sold a total of 32,000 shares of company stock worth $2,871,180 in the last three months. Company insiders own 1.84% of the company’s stock.

BioMarin Pharmaceutical Profile

(Free Report)

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.