Cwm LLC increased its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Get Rating) by 19.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 930 shares of the biotechnology company’s stock after acquiring an additional 149 shares during the quarter. Cwm LLC’s holdings in BioMarin Pharmaceutical were worth $79,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in BioMarin Pharmaceutical by 0.9% during the first quarter. Vanguard Group Inc. now owns 16,502,243 shares of the biotechnology company’s stock worth $1,272,322,000 after acquiring an additional 151,212 shares during the period. Parnassus Investments LLC raised its stake in shares of BioMarin Pharmaceutical by 2.0% in the second quarter. Parnassus Investments LLC now owns 2,781,420 shares of the biotechnology company’s stock valued at $230,496,000 after buying an additional 55,490 shares during the period. UBS Asset Management Americas Inc. raised its stake in shares of BioMarin Pharmaceutical by 0.7% in the second quarter. UBS Asset Management Americas Inc. now owns 1,562,365 shares of the biotechnology company’s stock valued at $129,473,000 after buying an additional 10,748 shares during the period. Millennium Management LLC raised its stake in shares of BioMarin Pharmaceutical by 17.2% in the second quarter. Millennium Management LLC now owns 1,526,003 shares of the biotechnology company’s stock valued at $126,460,000 after buying an additional 224,011 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of BioMarin Pharmaceutical by 5.6% in the second quarter. Legal & General Group Plc now owns 1,250,892 shares of the biotechnology company’s stock valued at $103,662,000 after buying an additional 66,683 shares during the period. 96.26% of the stock is currently owned by institutional investors.
Insider Transactions at BioMarin Pharmaceutical
In other news, EVP Jeffrey Robert Ajer sold 3,000 shares of the company’s stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $86.12, for a total value of $258,360.00. Following the completion of the transaction, the executive vice president now directly owns 41,088 shares in the company, valued at approximately $3,538,498.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Jeffrey Robert Ajer sold 3,000 shares of the business’s stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $86.12, for a total value of $258,360.00. Following the completion of the sale, the executive vice president now owns 41,088 shares of the company’s stock, valued at approximately $3,538,498.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mark J. Alles bought 3,625 shares of the stock in a transaction dated Monday, October 31st. The stock was bought at an average cost of $86.75 per share, with a total value of $314,468.75. Following the purchase, the director now owns 10,905 shares in the company, valued at approximately $946,008.75. The disclosure for this purchase can be found here. In the last three months, insiders sold 44,380 shares of company stock worth $4,706,718. 1.75% of the stock is currently owned by corporate insiders.
BioMarin Pharmaceutical Price Performance
BioMarin Pharmaceutical (NASDAQ:BMRN – Get Rating) last posted its quarterly earnings data on Wednesday, October 26th. The biotechnology company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. BioMarin Pharmaceutical had a return on equity of 2.50% and a net margin of 4.18%. The firm had revenue of $505.30 million during the quarter, compared to analysts’ expectations of $516.03 million. During the same period in the prior year, the business earned ($0.03) EPS. The company’s revenue for the quarter was up 23.6% compared to the same quarter last year. On average, research analysts forecast that BioMarin Pharmaceutical Inc. will post 0.87 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the company. Jefferies Financial Group boosted their target price on BioMarin Pharmaceutical from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, November 29th. Canaccord Genuity Group assumed coverage on BioMarin Pharmaceutical in a research note on Wednesday. They issued a “hold” rating and a $119.00 target price on the stock. Cantor Fitzgerald boosted their target price on BioMarin Pharmaceutical from $110.00 to $115.00 in a research note on Wednesday, October 12th. Royal Bank of Canada lifted their price target on BioMarin Pharmaceutical from $90.00 to $95.00 and gave the company a “sector perform” rating in a research report on Thursday, October 13th. Finally, Stifel Nicolaus lifted their price target on BioMarin Pharmaceutical to $104.00 in a research report on Wednesday, September 28th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus price target of $119.00.
About BioMarin Pharmaceutical
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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