BioMarin Pharmaceutical Inc. (BMRN) Shares Bought by KBC Group NV
KBC Group NV raised its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 112.4% during the third quarter, Holdings Channel reports. The firm owned 86,871 shares of the company’s stock after buying an additional 45,963 shares during the period. KBC Group NV’s holdings in BioMarin Pharmaceutical were worth $8,037,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in BMRN. Parametrica Management Ltd raised its position in BioMarin Pharmaceutical by 149.4% in the second quarter. Parametrica Management Ltd now owns 6,507 shares of the company’s stock worth $506,000 after buying an additional 3,898 shares during the period. LS Investment Advisors LLC raised its position in BioMarin Pharmaceutical by 13.5% in the second quarter. LS Investment Advisors LLC now owns 1,946 shares of the company’s stock worth $151,000 after buying an additional 231 shares during the period. IBM Retirement Fund raised its position in BioMarin Pharmaceutical by 1.8% in the second quarter. IBM Retirement Fund now owns 19,233 shares of the company’s stock worth $1,562,000 after buying an additional 346 shares during the period. Hartford Investment Management Co. raised its position in BioMarin Pharmaceutical by 2.5% in the second quarter. Hartford Investment Management Co. now owns 2,906 shares of the company’s stock worth $226,000 after buying an additional 70 shares during the period. Finally, Rockefeller Financial Services Inc. acquired a new position in BioMarin Pharmaceutical during the second quarter worth $111,000. 97.54% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) traded down 1.01% during midday trading on Tuesday, hitting $87.47. 760,529 shares of the stock were exchanged. BioMarin Pharmaceutical Inc. has a 52-week low of $62.12 and a 52-week high of $107.56. The firm’s 50-day moving average is $86.14 and its 200 day moving average is $89.66. The firm’s market cap is $15.04 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Thursday, October 27th. The company reported ($0.26) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.39) by $0.13. BioMarin Pharmaceutical had a negative net margin of 46.22% and a negative return on equity of 8.54%. The firm had revenue of $279.90 million for the quarter, compared to analysts’ expectations of $289.70 million. During the same quarter in the prior year, the business earned ($0.60) EPS. The business’s quarterly revenue was up 34.0% on a year-over-year basis. On average, analysts forecast that BioMarin Pharmaceutical Inc. will post ($3.73) earnings per share for the current year.
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BMRN has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of BioMarin Pharmaceutical from $120.00 to $127.00 and gave the company an “overweight” rating in a research report on Friday, August 5th. Piper Jaffray Cos. reissued an “overweight” rating on shares of BioMarin Pharmaceutical in a research report on Friday, August 19th. Goldman Sachs Group Inc. raised shares of BioMarin Pharmaceutical to a “neutral” rating in a research report on Friday, October 7th. Cowen and Company set a $150.00 price target on shares of BioMarin Pharmaceutical and gave the company a “buy” rating in a research report on Thursday, September 8th. Finally, Vetr lowered shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating and set a $91.77 price target on the stock. in a research report on Monday. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $114.24.
In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 69,744 shares of the firm’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $87.56, for a total transaction of $6,106,784.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey Robert Ajer sold 18,467 shares of the firm’s stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of $95.61, for a total transaction of $1,765,629.87. Following the sale, the executive vice president now owns 41,342 shares in the company, valued at approximately $3,952,708.62. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.
About BioMarin Pharmaceutical
BioMarin Pharmaceutical Inc (BioMarin) develops and commercializes pharmaceuticals for various diseases and medical conditions. The Company’s product portfolio consists of approximately five approved products, and multiple clinical and pre-clinical product candidates. Its approved products include Vimizim (elosulfase alpha), Naglazyme (galsulfase), Kuvan (sapropterin dihydrochloride), Aldurazyme (laronidase) and Firdapse (amifampridine phosphate).
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