Raymond James & Associates Has $16.46 Million Position in BioMarin Pharmaceutical Inc. (BMRN)

Raymond James & Associates boosted its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 6.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 185,336 shares of the biotechnology company’s stock after buying an additional 10,968 shares during the period. Raymond James & Associates’ holdings in BioMarin Pharmaceutical were worth $16,463,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of BMRN. Commonwealth Bank of Australia lifted its holdings in BioMarin Pharmaceutical by 49.6% in the fourth quarter. Commonwealth Bank of Australia now owns 350 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 116 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its holdings in BioMarin Pharmaceutical by 0.5% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 27,142 shares of the biotechnology company’s stock valued at $2,411,000 after acquiring an additional 144 shares during the period. First Hawaiian Bank lifted its holdings in BioMarin Pharmaceutical by 2.3% in the first quarter. First Hawaiian Bank now owns 8,935 shares of the biotechnology company’s stock valued at $794,000 after acquiring an additional 200 shares during the period. Sumitomo Mitsui Asset Management Company LTD lifted its holdings in BioMarin Pharmaceutical by 1.9% in the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 10,783 shares of the biotechnology company’s stock valued at $918,000 after acquiring an additional 205 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC lifted its holdings in BioMarin Pharmaceutical by 34.8% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 809 shares of the biotechnology company’s stock valued at $72,000 after acquiring an additional 209 shares during the period.

In related news, CEO Jean Jacques Bienaime sold 10,000 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $82.52, for a total value of $825,200.00. Following the completion of the transaction, the chief executive officer now owns 336,520 shares of the company’s stock, valued at approximately $27,769,630.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Brian Mueller sold 2,953 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $94.00, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 100,011 shares of company stock valued at $8,945,008 in the last ninety days. Corporate insiders own 1.90% of the company’s stock.

A number of research firms have commented on BMRN. ValuEngine downgraded BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a report on Wednesday, February 20th. Robert W. Baird set a $120.00 target price on BioMarin Pharmaceutical and gave the company a “buy” rating in a report on Tuesday, April 2nd. Wedbush reissued an “outperform” rating and issued a $127.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 7th. BidaskClub downgraded BioMarin Pharmaceutical from a “sell” rating to a “strong sell” rating in a report on Friday, March 22nd. Finally, Barclays reissued a “hold” rating and issued a $95.00 target price on shares of BioMarin Pharmaceutical in a report on Sunday, February 24th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company’s stock. BioMarin Pharmaceutical has a consensus rating of “Buy” and an average target price of $116.00.

NASDAQ:BMRN opened at $87.69 on Thursday. The firm has a market cap of $15.66 billion, a PE ratio of -265.73 and a beta of 1.46. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.83 and a quick ratio of 2.76. BioMarin Pharmaceutical Inc. has a 52-week low of $79.13 and a 52-week high of $106.74.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Thursday, April 25th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.02. The business had revenue of $400.70 million during the quarter, compared to the consensus estimate of $389.95 million. BioMarin Pharmaceutical had a negative return on equity of 2.97% and a negative net margin of 5.90%. The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.12 EPS. On average, analysts expect that BioMarin Pharmaceutical Inc. will post -0.04 EPS for the current fiscal year.

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

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