BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Acquired by M&T Bank Corp

M&T Bank Corp increased its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 6.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,008 shares of the biotechnology company’s stock after buying an additional 407 shares during the period. M&T Bank Corp’s holdings in BioMarin Pharmaceutical were worth $681,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Grey Fox Wealth Advisors LLC acquired a new position in BioMarin Pharmaceutical during the fourth quarter worth approximately $31,000. ICA Group Wealth Management LLC acquired a new position in BioMarin Pharmaceutical during the fourth quarter worth approximately $31,000. Acadian Asset Management LLC increased its position in BioMarin Pharmaceutical by 395.4% during the first quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 344 shares during the last quarter. Allworth Financial LP increased its position in BioMarin Pharmaceutical by 57.5% during the first quarter. Allworth Financial LP now owns 356 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 130 shares during the last quarter. Finally, MayTech Global Investments LLC purchased a new stake in BioMarin Pharmaceutical during the fourth quarter worth approximately $36,000. Institutional investors and hedge funds own 92.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BMRN. 500.com reiterated a “reiterates” rating on shares of BioMarin Pharmaceutical in a research note on Friday, June 30th. StockNews.com began coverage on shares of BioMarin Pharmaceutical in a research note on Thursday, August 17th. They set a “buy” rating for the company. Citigroup decreased their price objective on shares of BioMarin Pharmaceutical from $103.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, June 30th. BMO Capital Markets upgraded shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $102.00 price objective for the company in a research note on Wednesday, July 5th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $120.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, August 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average price target of $115.00.

BioMarin Pharmaceutical Stock Up 1.8 %

Shares of NASDAQ:BMRN opened at $93.03 on Friday. The stock has a market capitalization of $17.51 billion, a price-to-earnings ratio of 178.91 and a beta of 0.37. BioMarin Pharmaceutical Inc. has a 1-year low of $80.53 and a 1-year high of $117.77. The company’s fifty day moving average is $88.98 and its two-hundred day moving average is $93.08. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.31 and a current ratio of 4.94.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Monday, July 31st. The biotechnology company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.10. The company had revenue of $595.28 million for the quarter, compared to analysts’ expectations of $591.46 million. BioMarin Pharmaceutical had a net margin of 4.47% and a return on equity of 4.03%. Equities 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 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 sale, the executive vice president now directly owns 69,474 shares of the company’s stock, valued at $6,212,365.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Henry J. Fuchs sold 12,000 shares of the stock in a transaction dated 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 sale, the insider now owns 176,187 shares of the company’s stock, valued at approximately $15,932,590.41. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP George Eric Davis sold 11,000 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $89.42, for a total transaction 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 32,000 shares of company stock valued at $2,871,180. Company insiders own 1.84% of the company’s stock.

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.