Gulf International Bank UK Ltd decreased its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 21.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,760 shares of the biotechnology company’s stock after selling 12,528 shares during the period. Gulf International Bank UK Ltd’s holdings in BioMarin Pharmaceutical were worth $3,811,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd lifted its position in BioMarin Pharmaceutical by 3,524.1% during the 3rd quarter. Point72 Hong Kong Ltd now owns 1,051 shares of the biotechnology company’s stock worth $102,000 after acquiring an additional 1,022 shares during the last quarter. Huntington National Bank acquired a new position in BioMarin Pharmaceutical during the 3rd quarter worth $105,000. BDO Wealth Advisors LLC acquired a new position in BioMarin Pharmaceutical during the 2nd quarter worth $127,000. NuWave Investment Management LLC lifted its position in BioMarin Pharmaceutical by 42,975.0% during the 3rd quarter. NuWave Investment Management LLC now owns 1,723 shares of the biotechnology company’s stock worth $167,000 after acquiring an additional 1,719 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new position in BioMarin Pharmaceutical during the 3rd quarter worth $204,000.
In related news, CEO Jean Jacques Bienaime sold 3,000 shares of the stock in a transaction dated Saturday, December 28th. The shares were sold at an average price of $84.04, for a total value of $252,120.00. Following the completion of the transaction, the chief executive officer now owns 291,290 shares of the company’s stock, valued at $24,480,011.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeffrey Robert Ajer sold 9,000 shares of the stock in a transaction dated Wednesday, November 14th. The stock was sold at an average price of $92.15, for a total transaction of $829,350.00. Following the completion of the transaction, the executive vice president now directly owns 58,135 shares of the company’s stock, valued at approximately $5,357,140.25. The disclosure for this sale can be found here. Insiders sold 35,150 shares of company stock valued at $3,109,140 in the last three months. Company insiders own 1.90% of the company’s stock.
Shares of BMRN opened at $94.46 on Friday. The stock has a market cap of $16.18 billion, a PE ratio of -140.99 and a beta of 1.57. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.87 and a quick ratio of 2.26. BioMarin Pharmaceutical Inc. has a 52 week low of $75.81 and a 52 week high of $106.74.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Thursday, October 25th. The biotechnology company reported ($0.07) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.15. BioMarin Pharmaceutical had a negative net margin of 8.35% and a negative return on equity of 2.98%. The business had revenue of $391.71 million during the quarter, compared to analyst estimates of $369.43 million. Equities analysts predict that BioMarin Pharmaceutical Inc. will post -0.13 EPS for the current year.
BMRN has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of BioMarin Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Monday, September 24th. Cantor Fitzgerald initiated coverage on shares of BioMarin Pharmaceutical in a research report on Friday, September 28th. They set an “overweight” rating and a $126.00 target price for the company. ValuEngine raised shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Wednesday, October 3rd. BidaskClub raised shares of BioMarin Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. Finally, Jefferies Financial Group upped their price objective on shares of BioMarin Pharmaceutical to $125.00 and gave the company a “buy” rating in a research report on Tuesday, October 16th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $113.38.
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 that is used for the treatment of patients with mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Firdapse for Lambert Eaton Myasthenic Syndrome.
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