Northern Trust Corp Grows Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Northern Trust Corp lifted its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,202,314 shares of the biotechnology company’s stock after buying an additional 20,108 shares during the period. Northern Trust Corp’s holdings in BioMarin Pharmaceutical were worth $106,801,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its position in BioMarin Pharmaceutical by 14.7% in the first quarter. Commonwealth Equity Services LLC now owns 11,144 shares of the biotechnology company’s stock worth $989,000 after purchasing an additional 1,424 shares in the last quarter. OppenheimerFunds Inc. increased its holdings in shares of BioMarin Pharmaceutical by 4.4% during the first quarter. OppenheimerFunds Inc. now owns 183,254 shares of the biotechnology company’s stock worth $16,278,000 after buying an additional 7,735 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of BioMarin Pharmaceutical by 12.9% during the first quarter. Private Advisor Group LLC now owns 5,251 shares of the biotechnology company’s stock worth $467,000 after buying an additional 599 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in shares of BioMarin Pharmaceutical by 145.1% during the first quarter. Dynamic Technology Lab Private Ltd now owns 8,004 shares of the biotechnology company’s stock worth $711,000 after buying an additional 4,739 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of BioMarin Pharmaceutical by 7.7% during the first quarter. Principal Financial Group Inc. now owns 40,387 shares of the biotechnology company’s stock worth $3,587,000 after buying an additional 2,880 shares in the last quarter. Institutional investors and hedge funds own 98.54% of the company’s stock.

In other news, Director V Bryan Lawlis sold 2,150 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $89.76, for a total transaction of $192,984.00. Following the sale, the director now directly owns 21,310 shares of the company’s stock, valued at $1,912,785.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Henry J. Fuchs sold 9,597 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $94.09, for a total transaction of $902,981.73. Following the sale, the insider now directly owns 133,061 shares in the company, valued at $12,519,709.49. The disclosure for this sale can be found here. Insiders have sold 76,815 shares of company stock worth $6,818,008 over the last three months. 1.90% of the stock is owned by insiders.

BMRN opened at $82.36 on Friday. BioMarin Pharmaceutical Inc. has a one year low of $79.13 and a one year high of $106.74. The company has a current ratio of 3.83, a quick ratio of 2.76 and a debt-to-equity ratio of 0.28. The company has a market cap of $14.74 billion, a PE ratio of -249.58 and a beta of 1.41.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Thursday, April 25th. The biotechnology company reported ($0.10) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.02. BioMarin Pharmaceutical had a negative net margin of 5.90% and a negative return on equity of 2.97%. The business had revenue of $400.70 million for the quarter, compared to analysts’ expectations of $389.95 million. During the same period in the prior year, the firm earned $0.12 earnings per share. BioMarin Pharmaceutical’s revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts anticipate that BioMarin Pharmaceutical Inc. will post -0.04 EPS for the current fiscal year.

Several research firms have recently weighed in on BMRN. BidaskClub lowered shares of BioMarin Pharmaceutical from a “sell” rating to a “strong sell” rating in a report on Friday, March 22nd. ValuEngine lowered shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a report on Thursday, March 21st. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of BioMarin Pharmaceutical in a report on Sunday, June 2nd. Cantor Fitzgerald reaffirmed a “buy” rating and set a $131.00 price objective on shares of BioMarin Pharmaceutical in a report on Tuesday, April 2nd. Finally, TheStreet lowered shares of BioMarin Pharmaceutical from a “c-” rating to a “d+” rating in a report on Tuesday, May 7th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the stock. BioMarin Pharmaceutical currently has an average rating of “Buy” and an average target price of $116.00.

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BioMarin Pharmaceutical Profile

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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Institutional Ownership by Quarter for BioMarin Pharmaceutical (NASDAQ:BMRN)

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