Usca Ria LLC acquired a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 382 shares of the biotechnology company’s stock, valued at approximately $26,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMRN. Doyle Wealth Management acquired a new position in BioMarin Pharmaceutical during the 2nd quarter worth about $26,000. North Star Investment Management Corp. acquired a new position in BioMarin Pharmaceutical during the 3rd quarter worth about $25,000. Meeder Asset Management Inc. lifted its holdings in BioMarin Pharmaceutical by 73.6% during the 3rd quarter. Meeder Asset Management Inc. now owns 408 shares of the biotechnology company’s stock worth $27,000 after buying an additional 173 shares during the period. Avestar Capital LLC lifted its holdings in BioMarin Pharmaceutical by 36.9% during the 2nd quarter. Avestar Capital LLC now owns 750 shares of the biotechnology company’s stock worth $44,000 after buying an additional 202 shares during the period. Finally, Ossiam acquired a new position in BioMarin Pharmaceutical during the 2nd quarter worth about $67,000. 97.93% of the stock is currently owned by institutional investors.
In other news, Director V Bryan Lawlis sold 3,750 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $74.47, for a total value of $279,262.50. Following the transaction, the director now owns 27,340 shares in the company, valued at approximately $2,036,009.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jean Jacques Bienaime sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $69.55, for a total value of $347,750.00. Following the completion of the transaction, the chief executive officer now owns 332,520 shares in the company, valued at approximately $23,126,766. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.
Shares of BMRN stock traded up $0.50 during mid-day trading on Friday, hitting $75.90. The company’s stock had a trading volume of 821,900 shares, compared to its average volume of 1,202,928. BioMarin Pharmaceutical Inc. has a 52 week low of $62.88 and a 52 week high of $100.13. The company’s fifty day simple moving average is $69.98 and its 200-day simple moving average is $78.18. The company has a market cap of $13.41 billion, a PE ratio of -230.00, a P/E/G ratio of 141.38 and a beta of 1.30. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.53 and a current ratio of 3.77.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Wednesday, October 23rd. The biotechnology company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.25. BioMarin Pharmaceutical had a negative return on equity of 1.35% and a negative net margin of 2.65%. The firm had revenue of $461.10 million for the quarter, compared to the consensus estimate of $455.78 million. During the same quarter in the previous year, the business earned ($0.07) EPS. The company’s revenue was up 17.7% compared to the same quarter last year. On average, equities analysts anticipate that BioMarin Pharmaceutical Inc. will post 0.01 earnings per share for the current year.
BMRN has been the topic of several recent research reports. Citigroup reaffirmed a “buy” rating and set a $95.00 target price (down from $120.00) on shares of BioMarin Pharmaceutical in a report on Wednesday, October 30th. Cantor Fitzgerald set a $129.00 target price on BioMarin Pharmaceutical and gave the stock a “buy” rating in a report on Monday, October 21st. Wedbush lifted their target price on BioMarin Pharmaceutical from $128.00 to $152.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $133.00 target price on shares of BioMarin Pharmaceutical in a report on Monday, August 5th. Finally, Piper Jaffray Companies set a $120.00 target price on BioMarin Pharmaceutical and gave the stock a “buy” rating in a report on Friday, September 13th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $107.00.
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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