Clough Capital Partners L P boosted its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 5.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 103,509 shares of the biotechnology company’s stock after buying an additional 5,800 shares during the period. Clough Capital Partners L P owned approximately 0.06% of BioMarin Pharmaceutical worth $9,086,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parallel Advisors LLC increased its position in BioMarin Pharmaceutical by 13.6% in the first quarter. Parallel Advisors LLC now owns 1,042 shares of the biotechnology company’s stock worth $100,000 after buying an additional 125 shares during the period. Nikko Asset Management Americas Inc. purchased a new position in BioMarin Pharmaceutical during the first quarter worth $114,000. Global X Management Co. LLC increased its position in BioMarin Pharmaceutical by 59.7% in the first quarter. Global X Management Co. LLC now owns 1,656 shares of the biotechnology company’s stock worth $145,000 after buying an additional 619 shares during the period. Toronto Dominion Bank increased its position in BioMarin Pharmaceutical by 27.1% in the first quarter. Toronto Dominion Bank now owns 1,881 shares of the biotechnology company’s stock worth $165,000 after buying an additional 401 shares during the period. Finally, Mutual of America Capital Management LLC increased its position in BioMarin Pharmaceutical by 20.0% in the first quarter. Mutual of America Capital Management LLC now owns 2,066 shares of the biotechnology company’s stock worth $181,000 after buying an additional 344 shares during the period. Hedge funds and other institutional investors own 96.61% of the company’s stock.
BioMarin Pharmaceutical Inc. (NASDAQ BMRN) traded up 1.11% during midday trading on Tuesday, hitting $92.36. The stock had a trading volume of 1,462,650 shares. The firm has a 50-day moving average of $90.76 and a 200 day moving average of $88.85. The firm’s market capitalization is $16.12 billion. BioMarin Pharmaceutical Inc. has a 52-week low of $73.45 and a 52-week high of $102.49.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Thursday, May 4th. The biotechnology company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.33. BioMarin Pharmaceutical had a negative net margin of 48.43% and a negative return on equity of 22.71%. The business had revenue of $303.70 million during the quarter, compared to analysts’ expectations of $292.58 million. During the same quarter in the previous year, the company earned ($0.53) earnings per share. The company’s quarterly revenue was up 28.3% on a year-over-year basis. On average, equities analysts forecast that BioMarin Pharmaceutical Inc. will post ($0.81) EPS for the current year.
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A number of research firms have weighed in on BMRN. Cowen and Company reiterated an “outperform” rating and set a $150.00 target price on shares of BioMarin Pharmaceutical in a report on Wednesday, March 15th. Vetr downgraded BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating and set a $102.51 target price on the stock. in a report on Monday, February 27th. Deutsche Bank AG set a $105.00 target price on BioMarin Pharmaceutical and gave the stock a “buy” rating in a report on Friday, April 28th. BMO Capital Markets reduced their target price on BioMarin Pharmaceutical from $112.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, April 24th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $116.00 price target on shares of BioMarin Pharmaceutical in a research report on Monday, May 15th. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. BioMarin Pharmaceutical has an average rating of “Buy” and an average target price of $111.06.
In related news, EVP Jeffrey Robert Ajer sold 302 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $96.74, for a total transaction of $29,215.48. Following the completion of the sale, the executive vice president now owns 51,834 shares of the company’s stock, valued at approximately $5,014,421.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jean Jacques Bienaime sold 5,000 shares of the company’s stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $94.00, for a total transaction of $470,000.00. Following the sale, the chief executive officer now directly owns 243,194 shares of the company’s stock, valued at approximately $22,860,236. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 64,649 shares of company stock valued at $5,977,789. 2.50% of the stock is owned by corporate insiders.
About BioMarin Pharmaceutical
BioMarin Pharmaceutical Inc is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A).
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