Stevens Capital Management LP acquired a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 36,946 shares of the biotechnology company’s stock, valued at approximately $3,282,000.
Other hedge funds also recently bought and sold shares of the company. Doyle Wealth Management bought a new position in BioMarin Pharmaceutical in the 4th quarter worth approximately $26,000. Commonwealth Bank of Australia raised its position in BioMarin Pharmaceutical by 49.6% in the 4th quarter. Commonwealth Bank of Australia now owns 350 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 116 shares during the last quarter. PRW Wealth Management LLC bought a new stake in shares of BioMarin Pharmaceutical during the 4th quarter valued at $30,000. Lindbrook Capital LLC bought a new stake in shares of BioMarin Pharmaceutical during the 4th quarter valued at $30,000. Finally, Lake Point Wealth Management bought a new stake in shares of BioMarin Pharmaceutical during the 4th quarter valued at $34,000.
Several analysts have commented on the stock. BidaskClub upgraded shares of BioMarin Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Saturday, January 19th. Wedbush reiterated an “outperform” rating and set a $127.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 7th. ValuEngine upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. Cantor Fitzgerald upped their target price on shares of BioMarin Pharmaceutical to $131.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Finally, Zacks Investment Research cut shares of BioMarin Pharmaceutical from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $116.00.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Thursday, April 25th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.02. BioMarin Pharmaceutical had a negative net margin of 5.90% and a negative return on equity of 2.97%. The company had revenue of $400.70 million during the quarter, compared to analyst estimates of $389.95 million. During the same quarter in the previous year, the business earned $0.12 EPS. The firm’s revenue was up 7.3% on a year-over-year basis. Equities analysts expect that BioMarin Pharmaceutical Inc. will post -0.06 EPS for the current fiscal year.
In related news, SVP Brian Mueller sold 2,953 shares of the company’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $94.00, for a total value of $277,582.00. Following the completion of the transaction, the senior vice president now directly owns 13,660 shares of the company’s stock, valued at approximately $1,284,040. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jean Jacques Bienaime sold 4,000 shares of the company’s stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $95.20, for a total transaction of $380,800.00. Following the completion of the transaction, the chief executive officer now directly owns 292,290 shares of the company’s stock, valued at $27,826,008. The disclosure for this sale can be found here. Insiders sold a total of 97,011 shares of company stock valued at $8,770,968 in the last three months. 1.90% of the stock is owned by company insiders.
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BioMarin Pharmaceutical Profile
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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