BB&T Corp reduced its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 5.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,657 shares of the company’s stock after selling 642 shares during the period. BB&T Corp’s holdings in BioMarin Pharmaceutical were worth $1,078,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of 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 increased its stake 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 increased its stake 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. increased its stake 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 stake in BioMarin Pharmaceutical during the second quarter worth approximately $111,000. Hedge funds and other institutional investors own 93.68% of the company’s stock.
Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) remained flat at $88.10 during trading on Thursday. 1,299,103 shares of the company traded hands. The firm’s 50-day moving average price is $86.66 and its 200 day moving average price is $89.49. The company’s market cap is $15.15 billion. BioMarin Pharmaceutical Inc. has a 12-month low of $62.12 and a 12-month high of $107.56.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Thursday, October 27th. The company reported ($0.26) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.39) by $0.13. BioMarin Pharmaceutical had a negative return on equity of 8.54% and a negative net margin of 46.22%. The company earned $279.90 million during the quarter, compared to the consensus estimate of $289.70 million. During the same period last year, the business earned ($0.60) EPS. The business’s quarterly revenue was up 34.0% on a year-over-year basis. On average, equities research analysts expect that BioMarin Pharmaceutical Inc. will post ($3.73) earnings per share for the current fiscal year.
Several research analysts have recently issued reports on BMRN shares. William Blair set a $116.00 price target on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research note on Thursday, July 28th. Robert W. Baird set a $115.00 price target on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research note on Saturday, October 15th. RBC Capital Markets set a $125.00 price target on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research note on Sunday, October 30th. Vetr raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $110.24 price target for the company in a research note on Tuesday, August 2nd. Finally, Wedbush reaffirmed a “neutral” rating and set a $104.00 price target (down previously from $108.00) on shares of BioMarin Pharmaceutical in a research note on Tuesday, September 6th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. BioMarin Pharmaceutical has a consensus rating of “Buy” and an average price target of $115.24.
In other news, CEO Jean Jacques Bienaime sold 140,000 shares of the stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $82.67, for a total transaction of $11,573,800.00. Following the transaction, the chief executive officer now owns 393,368 shares of the company’s stock, valued at approximately $32,519,732.56. The sale 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 stock in a transaction dated Tuesday, September 27th. The shares were sold at an average price of $95.61, for a total value of $1,765,629.87. Following the transaction, the executive vice president now directly owns 41,342 shares in the company, valued at approximately $3,952,708.62. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.
BioMarin Pharmaceutical Company Profile
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).