New England Research & Management Inc. Purchases Shares of 3,500 BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

New England Research & Management Inc. bought a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,500 shares of the biotechnology company’s stock, valued at approximately $311,000.

Several other large investors also recently bought and sold shares of BMRN. Comerica Bank lifted its position in shares of BioMarin Pharmaceutical by 5.9% during the 3rd quarter. Comerica Bank now owns 10,096 shares of the biotechnology company’s stock worth $1,012,000 after buying an additional 565 shares during the period. Virtu Financial LLC bought a new position in shares of BioMarin Pharmaceutical during the 3rd quarter worth approximately $707,000. Dimensional Fund Advisors LP lifted its position in shares of BioMarin Pharmaceutical by 30.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 288,770 shares of the biotechnology company’s stock worth $28,004,000 after buying an additional 66,986 shares during the period. United Services Automobile Association lifted its position in shares of BioMarin Pharmaceutical by 2.4% during the 3rd quarter. United Services Automobile Association now owns 69,783 shares of the biotechnology company’s stock worth $6,767,000 after buying an additional 1,629 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of BioMarin Pharmaceutical by 25.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,071 shares of the biotechnology company’s stock worth $1,662,000 after buying an additional 3,431 shares during the period.

NASDAQ BMRN opened at $85.09 on Friday. The firm has a market capitalization of $14.75 billion, a PE ratio of -257.85 and a beta of 1.51. BioMarin Pharmaceutical Inc. has a 52 week low of $79.13 and a 52 week high of $106.74. The company has a quick ratio of 2.92, a current ratio of 3.93 and a debt-to-equity ratio of 0.28.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Thursday, April 25th. The biotechnology company reported ($0.10) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.02. The company had revenue of $400.70 million during the quarter, compared to analysts’ expectations of $389.95 million. BioMarin Pharmaceutical had a negative return on equity of 2.79% and a negative net margin of 5.18%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the firm earned $0.12 EPS. As a group, equities research analysts expect that BioMarin Pharmaceutical Inc. will post 0.02 EPS for the current year.

In other news, CEO Jean Jacques Bienaime sold 4,000 shares of BioMarin Pharmaceutical stock in a transaction on Friday, April 12th. The stock was sold at an average price of $89.12, for a total value of $356,480.00. Following the completion of the sale, the chief executive officer now directly owns 325,211 shares of the company’s stock, valued at approximately $28,982,804.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Henry J. Fuchs sold 2,196 shares of BioMarin Pharmaceutical stock in a transaction on Monday, March 4th. The shares were sold at an average price of $95.00, for a total value of $208,620.00. Following the completion of the sale, the insider now directly owns 142,504 shares of the company’s stock, valued at $13,537,880. The disclosure for this sale can be found here. Insiders sold a total of 94,011 shares of company stock valued at $8,588,208 over the last three months. Insiders own 1.90% of the company’s stock.

Several equities analysts recently commented on the company. Robert W. Baird set a $120.00 target price on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research report on Friday. Wedbush raised their target price on BioMarin Pharmaceutical from $127.00 to $128.00 and gave the stock an “outperform” rating in a research report on Friday. ValuEngine downgraded BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Thursday, March 21st. Cantor Fitzgerald reiterated a “buy” rating and issued a $131.00 price objective on shares of BioMarin Pharmaceutical in a research report on Tuesday, April 2nd. Finally, Raymond James initiated coverage on BioMarin Pharmaceutical in a research report on Tuesday, April 9th. They issued an “outperform” rating and a $110.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $116.31.

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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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Institutional Ownership by Quarter for BioMarin Pharmaceutical (NASDAQ:BMRN)

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