Today, First Mercantile Trust Co. Sold shares of BioMarin Pharmaceutical Inc. (BMRN)

Today, First Mercantile Trust Co. Sold shares of BioMarin Pharmaceutical Inc. (BMRN)
First Mercantile Trust Co. cut its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 17.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,400 shares of the company’s stock after selling 1,550 shares during the period. First Mercantile Trust Co.’s holdings in BioMarin Pharmaceutical were worth $685,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its stake in shares of BioMarin Pharmaceutical by 1.2% in the second quarter. Pacer Advisors Inc. now owns 4,339 shares of the company’s stock valued at $338,000 after buying an additional 52 shares during the period. Hartford Investment Management Co. increased its stake in shares of BioMarin Pharmaceutical by 2.5% in the second quarter. Hartford Investment Management Co. now owns 2,906 shares of the company’s stock valued at $226,000 after buying an additional 70 shares during the period. Essex Investment Management Co. LLC increased its stake in shares of BioMarin Pharmaceutical by 0.6% in the second quarter. Essex Investment Management Co. LLC now owns 15,411 shares of the company’s stock valued at $1,199,000 after buying an additional 90 shares during the period. Mn Services Vermogensbeheer B.V. increased its stake in shares of BioMarin Pharmaceutical by 2.3% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 4,082 shares of the company’s stock valued at $286,000 after buying an additional 90 shares during the period. Finally, Glenmede Trust Co. NA increased its stake in shares of BioMarin Pharmaceutical by 0.7% in the second quarter. Glenmede Trust Co. NA now owns 16,639 shares of the company’s stock valued at $1,293,000 after buying an additional 114 shares during the period. Institutional investors own 93.68% of the company’s stock.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) traded up 1.02% during trading on Friday, hitting $89.00. 647,620 shares of the company traded hands. BioMarin Pharmaceutical Inc. has a one year low of $62.12 and a one year high of $107.56. The firm’s market cap is $15.31 billion. The firm has a 50 day moving average of $86.29 and a 200 day moving average of $89.53.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Thursday, October 27th. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $279.90 million for the quarter, compared to the consensus estimate of $289.70 million. During the same period in the previous year, the firm earned ($0.60) EPS. The business’s revenue for the quarter was up 34.0% on a year-over-year basis. On average, analysts expect that BioMarin Pharmaceutical Inc. will post ($3.73) earnings per share for the current fiscal year.

Several research firms recently issued reports on BMRN. Vetr cut shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating and set a $103.86 price target for the company. in a report on Monday, August 1st. Jefferies Group increased their price target on shares of BioMarin Pharmaceutical from $116.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 5th. Piper Jaffray Cos. increased their price target on shares of BioMarin Pharmaceutical from $107.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, August 5th. Stifel Nicolaus increased their price target on shares of BioMarin Pharmaceutical from $107.00 to $113.00 and gave the stock a “buy” rating in a report on Friday, August 5th. Finally, Barclays PLC increased their price target on shares of BioMarin Pharmaceutical from $105.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, August 5th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $115.24.

In other news, EVP Jeffrey Robert Ajer sold 18,467 shares of the business’s stock in a transaction that occurred on Tuesday, September 27th. The shares were 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 $3,952,708.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jean Jacques Bienaime sold 69,744 shares of the business’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 disclosure for this sale can be found here. 2.50% of the stock is currently owned by corporate insiders.

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).

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