American Century Companies Inc. raised its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 64.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 614,862 shares of the biotechnology company’s stock after acquiring an additional 241,183 shares during the quarter. American Century Companies Inc. owned approximately 0.35% of BioMarin Pharmaceutical worth $57,225,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in BMRN. Korea Investment CORP grew its stake in shares of BioMarin Pharmaceutical by 143.5% in the 2nd quarter. Korea Investment CORP now owns 1,595 shares of the biotechnology company’s stock valued at $145,000 after buying an additional 940 shares in the last quarter. Global X Management Co. LLC grew its stake in shares of BioMarin Pharmaceutical by 16.8% in the 2nd quarter. Global X Management Co. LLC now owns 1,935 shares of the biotechnology company’s stock valued at $176,000 after buying an additional 279 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of BioMarin Pharmaceutical by 12.9% in the 2nd quarter. Toronto Dominion Bank now owns 2,124 shares of the biotechnology company’s stock valued at $193,000 after buying an additional 243 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter valued at approximately $213,000. Finally, Cigna Investments Inc. New grew its stake in shares of BioMarin Pharmaceutical by 1.5% in the 2nd quarter. Cigna Investments Inc. New now owns 2,377 shares of the biotechnology company’s stock valued at $216,000 after buying an additional 36 shares in the last quarter. 97.39% of the stock is currently owned by institutional investors.
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Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) opened at $82.03 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.81 and a current ratio of 4.91. BioMarin Pharmaceutical Inc. has a 1 year low of $79.50 and a 1 year high of $100.51.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Thursday, October 26th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.06. The business had revenue of $334.18 million during the quarter, compared to the consensus estimate of $347.38 million. BioMarin Pharmaceutical had a negative return on equity of 4.60% and a negative net margin of 12.45%. BioMarin Pharmaceutical’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period last year, the company earned $0.02 earnings per share. analysts predict that BioMarin Pharmaceutical Inc. will post -0.66 earnings per share for the current year.
In other news, EVP Robert Baffi sold 18,415 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $92.43, for a total transaction of $1,702,098.45. Following the completion of the transaction, the executive vice president now directly owns 129,083 shares in the company, valued at approximately $11,931,141.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Henry J. Fuchs sold 15,000 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $90.50, for a total value of $1,357,500.00. Following the transaction, the insider now owns 141,422 shares of the company’s stock, valued at $12,798,691. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,686 shares of company stock valued at $3,736,318. Corporate insiders own 1.85% of the company’s stock.
Several research firms recently weighed in on BMRN. Morgan Stanley restated an “overweight” rating and issued a $117.00 target price (up from $115.00) on shares of BioMarin Pharmaceutical in a report on Friday, October 6th. Stifel Nicolaus reduced their target price on BioMarin Pharmaceutical from $107.00 to $105.00 and set a “buy” rating for the company in a report on Friday, October 27th. BMO Capital Markets restated a “buy” rating and issued a $117.00 target price on shares of BioMarin Pharmaceutical in a report on Friday, October 20th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $129.00 price target on shares of BioMarin Pharmaceutical in a report on Friday, October 6th. Finally, J P Morgan Chase & Co set a $130.00 price target on BioMarin Pharmaceutical and gave the stock a “buy” rating in a report on Sunday, October 29th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $111.55.
BioMarin Pharmaceutical 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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