Rhumbline Advisers trimmed its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 4.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 194,253 shares of the biotechnology company’s stock after selling 8,040 shares during the period. Rhumbline Advisers owned approximately 0.11% of BioMarin Pharmaceutical worth $18,299,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in BMRN. Financial Gravity Wealth Inc. bought a new position in shares of BioMarin Pharmaceutical during the 1st quarter worth about $195,000. Allen Investment Management LLC acquired a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter worth about $203,000. Jump Trading LLC acquired a new stake in shares of BioMarin Pharmaceutical during the 1st quarter worth about $240,000. Reilly Financial Advisors LLC acquired a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter worth about $254,000. Finally, Wedbush Securities Inc. acquired a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter worth about $262,000.
BMRN opened at $101.01 on Monday. The company has a quick ratio of 2.24, a current ratio of 2.83 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $18.02 billion, a price-to-earnings ratio of -150.76 and a beta of 1.60. BioMarin Pharmaceutical Inc. has a 1-year low of $75.81 and a 1-year high of $106.20.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Thursday, August 2nd. The biotechnology company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The company had revenue of $372.80 million during the quarter, compared to analyst estimates of $359.25 million. BioMarin Pharmaceutical had a negative net margin of 8.68% and a negative return on equity of 3.00%. The company’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.21) EPS. equities research analysts forecast that BioMarin Pharmaceutical Inc. will post -0.24 EPS for the current year.
A number of brokerages recently issued reports on BMRN. BidaskClub cut shares of BioMarin Pharmaceutical from a “hold” rating to a “sell” rating in a research report on Wednesday, August 1st. Sanford C. Bernstein dropped their target price on shares of BioMarin Pharmaceutical from $97.00 to $92.00 and set a “market perform” rating for the company in a research report on Monday, April 30th. ValuEngine upgraded shares of BioMarin Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Monday, May 28th. Barclays reiterated a “hold” rating and set a $98.00 target price (up previously from $95.00) on shares of BioMarin Pharmaceutical in a research report on Sunday, August 5th. Finally, Wedbush reiterated an “outperform” rating and set a $120.00 target price (up previously from $115.00) on shares of BioMarin Pharmaceutical in a research report on Monday, August 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. BioMarin Pharmaceutical has a consensus rating of “Buy” and an average target price of $116.28.
In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 1,500 shares of the firm’s stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $101.69, for a total value of $152,535.00. Following the completion of the sale, the chief executive officer now owns 286,790 shares in the company, valued at approximately $29,163,675.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Henry J. Fuchs sold 31,000 shares of the firm’s stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $90.00, for a total transaction of $2,790,000.00. Following the completion of the sale, the insider now owns 157,167 shares of the company’s stock, valued at approximately $14,145,030. The disclosure for this sale can be found here. Insiders sold a total of 65,874 shares of company stock valued at $6,259,566 in the last 90 days. Corporate insiders own 1.90% of the company’s stock.
BioMarin Pharmaceutical Company 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 that is used for the treatment of patients with mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Firdapse for Lambert Eaton Myasthenic Syndrome.
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