MUFG Americas Holdings Corp lifted its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 16.3% during the second quarter, Holdings Channel reports. The fund owned 9,324 shares of the biotechnology company’s stock after purchasing an additional 1,309 shares during the quarter. MUFG Americas Holdings Corp’s holdings in BioMarin Pharmaceutical were worth $1,151,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Signaturefd LLC lifted its position in BioMarin Pharmaceutical by 43.1% during the first quarter. Signaturefd LLC now owns 382 shares of the biotechnology company’s stock worth $32,000 after buying an additional 115 shares during the period. Evolution Wealth Advisors LLC lifted its position in BioMarin Pharmaceutical by 40.7% during the second quarter. Evolution Wealth Advisors LLC now owns 318 shares of the biotechnology company’s stock worth $39,000 after buying an additional 92 shares during the period. Shine Investment Advisory Services Inc. lifted its position in BioMarin Pharmaceutical by 199.5% during the first quarter. Shine Investment Advisory Services Inc. now owns 602 shares of the biotechnology company’s stock worth $51,000 after buying an additional 401 shares during the period. Acadian Asset Management LLC purchased a new position in BioMarin Pharmaceutical during the first quarter worth about $83,000. Finally, Patriot Financial Group Insurance Agency LLC lifted its position in BioMarin Pharmaceutical by 17.0% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 702 shares of the biotechnology company’s stock worth $87,000 after buying an additional 102 shares during the period. 96.68% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently weighed in on BMRN. JPMorgan Chase & Co. increased their target price on BioMarin Pharmaceutical from $140.00 to $156.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Piper Sandler increased their target price on BioMarin Pharmaceutical from $120.00 to $133.00 in a research report on Wednesday, August 5th. Nomura restated a “hold” rating and issued a $77.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, April 30th. BMO Capital Markets raised their price objective on BioMarin Pharmaceutical from $94.00 to $108.00 and gave the stock a “market perform” rating in a report on Thursday, August 6th. Finally, Robert W. Baird raised their price objective on BioMarin Pharmaceutical from $125.00 to $140.00 in a report on Friday, July 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $129.17.
Shares of NASDAQ:BMRN traded up $1.29 during mid-day trading on Friday, hitting $118.16. 971,728 shares of the company traded hands, compared to its average volume of 1,510,898. The firm has a market cap of $21.44 billion, a P/E ratio of 179.03 and a beta of 1.05. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.34 and a current ratio of 3.26. BioMarin Pharmaceutical Inc. has a 52-week low of $62.88 and a 52-week high of $131.95. The firm’s 50 day simple moving average is $123.81 and its 200 day simple moving average is $100.29.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Tuesday, August 4th. The biotechnology company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.10) by $0.17. BioMarin Pharmaceutical had a return on equity of 4.37% and a net margin of 6.62%. The business had revenue of $429.49 million for the quarter, compared to the consensus estimate of $418.02 million. Equities research analysts expect that BioMarin Pharmaceutical Inc. will post 0.51 EPS for the current fiscal year.
In other BioMarin Pharmaceutical news, insider Henry J. Fuchs sold 23,011 shares of the firm’s stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $130.00, for a total transaction of $2,991,430.00. Following the completion of the sale, the insider now owns 102,995 shares in the company, valued at approximately $13,389,350. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael G. Grey sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $120.35, for a total value of $300,875.00. Following the sale, the director now owns 45,340 shares of the company’s stock, valued at approximately $5,456,669. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 175,760 shares of company stock valued at $22,606,515. 2.15% of the stock is owned by insiders.
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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