Ironsides Asset Advisors LLC grew its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 35.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,935 shares of the biotechnology company’s stock after acquiring an additional 3,915 shares during the quarter. Ironsides Asset Advisors LLC’s holdings in BioMarin Pharmaceutical were worth $1,279,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Comerica Securities Inc. grew its holdings in shares of BioMarin Pharmaceutical by 23.9% in the 4th quarter. Comerica Securities Inc. now owns 3,197 shares of the biotechnology company’s stock valued at $272,000 after acquiring an additional 617 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of BioMarin Pharmaceutical by 6.0% in the 4th quarter. Geode Capital Management LLC now owns 1,643,507 shares of the biotechnology company’s stock valued at $139,844,000 after acquiring an additional 92,519 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of BioMarin Pharmaceutical by 7.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 309,779 shares of the biotechnology company’s stock valued at $26,375,000 after acquiring an additional 21,009 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of BioMarin Pharmaceutical in the 1st quarter valued at about $297,000. Finally, Appleton Partners Inc. MA grew its holdings in shares of BioMarin Pharmaceutical by 26.7% in the 1st quarter. Appleton Partners Inc. MA now owns 6,389 shares of the biotechnology company’s stock valued at $568,000 after acquiring an additional 1,348 shares in the last quarter. 96.86% of the stock is currently owned by institutional investors and hedge funds.
BioMarin Pharmaceutical stock traded up $0.62 during midday trading on Thursday, reaching $72.33. 68,128 shares of the company’s stock were exchanged, compared to its average volume of 1,058,399. BioMarin Pharmaceutical Inc. has a 52 week low of $71.67 and a 52 week high of $106.74. The company has a current ratio of 4.11, a quick ratio of 2.79 and a debt-to-equity ratio of 0.28. The company has a market cap of $12.95 billion, a price-to-earnings ratio of -218.64 and a beta of 1.35. The firm has a 50-day moving average price of $80.80.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.16). The company had revenue of $388.00 million for the quarter, compared to analyst estimates of $415.03 million. BioMarin Pharmaceutical had a negative return on equity of 3.12% and a negative net margin of 7.19%. The company’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.09) earnings per share. On average, sell-side analysts expect that BioMarin Pharmaceutical Inc. will post -0.03 earnings per share for the current year.
Several brokerages have recently weighed in on BMRN. Robert W. Baird set a $120.00 price objective on BioMarin Pharmaceutical and gave the company a “buy” rating in a report on Friday, April 26th. Cantor Fitzgerald restated a “buy” rating and issued a $131.00 price objective on shares of BioMarin Pharmaceutical in a report on Friday, April 26th. Citigroup restated a “buy” rating on shares of BioMarin Pharmaceutical in a report on Thursday, May 23rd. Wedbush reiterated an “outperform” rating and set a $128.00 price target on shares of BioMarin Pharmaceutical in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and set a $133.00 price target on shares of BioMarin Pharmaceutical in a report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company’s stock. BioMarin Pharmaceutical currently has an average rating of “Buy” and a consensus target price of $115.60.
In other BioMarin Pharmaceutical news, Director V Bryan Lawlis sold 3,750 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $81.08, for a total transaction of $304,050.00. Following the completion of the sale, the director now directly owns 27,340 shares in the company, valued at $2,216,727.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.90% of the company’s stock.
About BioMarin Pharmaceutical
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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