Landscape Capital Management L.L.C. acquired a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,901 shares of the biotechnology company’s stock, valued at approximately $1,061,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. American Century Companies Inc. lifted its position in BioMarin Pharmaceutical by 49.8% in the fourth quarter. American Century Companies Inc. now owns 920,762 shares of the biotechnology company’s stock valued at $82,104,000 after buying an additional 305,900 shares during the last quarter. Carillon Tower Advisers Inc. acquired a new position in BioMarin Pharmaceutical in the fourth quarter valued at about $22,892,000. TCW Group Inc. lifted its position in BioMarin Pharmaceutical by 20.1% in the third quarter. TCW Group Inc. now owns 1,072,969 shares of the biotechnology company’s stock valued at $99,862,000 after buying an additional 179,879 shares during the last quarter. Westfield Capital Management Co. LP lifted its position in BioMarin Pharmaceutical by 136.5% in the third quarter. Westfield Capital Management Co. LP now owns 263,925 shares of the biotechnology company’s stock valued at $24,563,000 after buying an additional 152,315 shares during the last quarter. Finally, Employees Retirement System of Texas acquired a new position in BioMarin Pharmaceutical in the fourth quarter valued at about $9,332,000.
BMRN has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $101.00 target price on the stock in a research report on Tuesday, January 16th. Piper Jaffray Companies reissued a “buy” rating and set a $114.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, January 18th. SunTrust Banks increased their price target on shares of BioMarin Pharmaceutical to $130.00 and gave the stock a “buy” rating in a research report on Monday, December 11th. JPMorgan Chase & Co. set a $131.00 price target on shares of BioMarin Pharmaceutical and gave the stock a “buy” rating in a research report on Monday, November 27th. Finally, Deutsche Bank set a $124.00 price target on shares of BioMarin Pharmaceutical and gave the stock a “buy” rating in a research report on Friday, February 23rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $112.34.
In related news, Director Elaine J. Heron sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $88.90, for a total value of $71,120.00. Following the sale, the director now owns 38,385 shares of the company’s stock, valued at $3,412,426.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jean Jacques Bienaime sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $89.61, for a total transaction of $896,100.00. Following the completion of the sale, the chief executive officer now directly owns 226,494 shares in the company, valued at approximately $20,296,127.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 99,550 shares of company stock worth $8,903,120. 1.85% of the stock is owned by corporate insiders.
Shares of BioMarin Pharmaceutical Inc. (NASDAQ BMRN) opened at $82.37 on Wednesday. The firm has a market cap of $14,224.88, a P/E ratio of -122.94 and a beta of 1.74. BioMarin Pharmaceutical Inc. has a 1-year low of $77.04 and a 1-year high of $100.51. The company has a quick ratio of 2.12, a current ratio of 2.70 and a debt-to-equity ratio of 0.29.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Thursday, February 22nd. The biotechnology company reported ($0.30) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.06). The firm had revenue of $358.31 million during the quarter, compared to analyst estimates of $346.24 million. BioMarin Pharmaceutical had a negative net margin of 8.91% and a negative return on equity of 3.18%. equities analysts forecast that BioMarin Pharmaceutical Inc. will post -0.67 EPS for the current year.
BioMarin Pharmaceutical Company Profile
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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