BioMarin Pharmaceutical Inc. (BMRN) Shares Obtained by Rafferty Asset Management LLC

BioMarin Pharmaceutical Inc. (BMRN) Shares Obtained by Rafferty Asset Management LLC

Rafferty Asset Management LLC raised its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 7.2% during the first quarter, Holdings Channel reports. The firm owned 12,649 shares of the biotechnology company’s stock after buying an additional 853 shares during the period. Rafferty Asset Management LLC’s holdings in BioMarin Pharmaceutical were worth $1,110,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Suffolk Capital Management LLC purchased a new stake in shares of BioMarin Pharmaceutical during the first quarter worth about $6,847,000. Emory University increased its stake in shares of BioMarin Pharmaceutical by 3.2% in the first quarter. Emory University now owns 23,791 shares of the biotechnology company’s stock worth $2,088,000 after buying an additional 744 shares in the last quarter. Neuberger Berman Group LLC increased its stake in shares of BioMarin Pharmaceutical by 1.4% in the first quarter. Neuberger Berman Group LLC now owns 161,196 shares of the biotechnology company’s stock worth $14,150,000 after buying an additional 2,298 shares in the last quarter. EFG Asset Management Americas Corp. purchased a new stake in shares of BioMarin Pharmaceutical during the first quarter worth about $315,000. Finally, William Blair Investment Management LLC increased its stake in shares of BioMarin Pharmaceutical by 1.4% in the first quarter. William Blair Investment Management LLC now owns 1,123,928 shares of the biotechnology company’s stock worth $98,658,000 after buying an additional 15,687 shares in the last quarter. 97.78% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Inc. (BMRN) traded up 0.80% during trading on Friday, hitting $90.72. 1,079,835 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $91.46 and its 200 day moving average price is $88.67. The stock’s market cap is $15.83 billion. BioMarin Pharmaceutical Inc. has a 12-month low of $73.45 and a 12-month high of $102.49.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Thursday, May 4th. The biotechnology company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.33. BioMarin Pharmaceutical had a negative net margin of 46.22% and a negative return on equity of 8.54%. The company had revenue of $303.70 million during the quarter, compared to analyst estimates of $292.58 million. During the same quarter in the prior year, the business earned ($0.53) earnings per share. The business’s quarterly revenue was up 28.3% compared to the same quarter last year. Analysts anticipate that BioMarin Pharmaceutical Inc. will post ($0.78) earnings per share for the current fiscal year.

BMRN has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $107.00 price target for the company in a report on Monday, May 1st. Instinet initiated coverage on shares of BioMarin Pharmaceutical in a report on Wednesday, March 1st. They set a “neutral” rating and a $93.00 price target for the company. Vetr downgraded shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating and set a $95.10 price target for the company. in a report on Monday, April 10th. Credit Suisse Group AG restated a “buy” rating and set a $116.00 price target on shares of BioMarin Pharmaceutical in a report on Friday, April 28th. Finally, Cowen and Company restated an “outperform” rating and set a $150.00 price target on shares of BioMarin Pharmaceutical in a report on Tuesday, April 18th. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. BioMarin Pharmaceutical currently has an average rating of “Buy” and a consensus target price of $111.06.

In related news, SVP Brian Mueller sold 7,482 shares of the firm’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $91.87, for a total transaction of $687,371.34. Following the completion of the sale, the senior vice president now directly owns 18,350 shares of the company’s stock, valued at approximately $1,685,814.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jean Jacques Bienaime sold 11,000 shares of the firm’s stock in a transaction on Friday, March 10th. The shares were sold at an average price of $90.59, for a total transaction of $996,490.00. Following the sale, the chief executive officer now directly owns 212,364 shares of the company’s stock, valued at $19,238,054.76. The disclosure for this sale can be found here. Insiders sold 78,202 shares of company stock valued at $7,233,895 in the last three months. Company insiders own 2.50% of the company’s stock.

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).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:BMRN”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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