Carmignac Gestion grew its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Free Report) by 20.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,044,371 shares of the biotechnology company’s stock after purchasing an additional 175,759 shares during the quarter. BioMarin Pharmaceutical accounts for 1.7% of Carmignac Gestion’s portfolio, making the stock its 24th largest position. Carmignac Gestion owned about 0.56% of BioMarin Pharmaceutical worth $101,553,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of BMRN. Raymond James Financial Services Advisors Inc. increased its position in shares of BioMarin Pharmaceutical by 225.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 16,838 shares of the biotechnology company’s stock valued at $1,298,000 after purchasing an additional 11,672 shares during the period. American Century Companies Inc. grew its holdings in shares of BioMarin Pharmaceutical by 64.6% in the 1st quarter. American Century Companies Inc. now owns 11,312 shares of the biotechnology company’s stock worth $872,000 after acquiring an additional 4,440 shares during the last quarter. Cetera Advisor Networks LLC grew its holdings in shares of BioMarin Pharmaceutical by 38.3% in the 1st quarter. Cetera Advisor Networks LLC now owns 5,525 shares of the biotechnology company’s stock worth $426,000 after acquiring an additional 1,530 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of BioMarin Pharmaceutical by 14.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,362 shares of the biotechnology company’s stock worth $644,000 after acquiring an additional 1,055 shares during the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of BioMarin Pharmaceutical by 395.4% in the 1st quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 344 shares during the last quarter. 92.78% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at BioMarin Pharmaceutical
In related news, CEO Jean Jacques Bienaime sold 4,000 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $88.10, for a total transaction of $352,400.00. Following the transaction, the chief executive officer now directly owns 428,732 shares in the company, valued at $37,771,289.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP George Eric Davis sold 11,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $89.42, for a total value of $983,620.00. Following the sale, the executive vice president now directly owns 69,474 shares in the company, valued at approximately $6,212,365.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jean Jacques Bienaime sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $88.10, for a total value of $352,400.00. Following the completion of the sale, the chief executive officer now owns 428,732 shares in the company, valued at $37,771,289.20. The disclosure for this sale can be found here. Insiders have sold 32,000 shares of company stock worth $2,871,180 over the last three months. Company insiders own 1.84% of the company’s stock.
Analysts Set New Price Targets
BMRN has been the topic of a number of recent research reports. Morgan Stanley decreased their target price on BioMarin Pharmaceutical from $129.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, August 1st. Guggenheim decreased their target price on BioMarin Pharmaceutical from $120.00 to $110.00 in a report on Monday, July 3rd. Wedbush decreased their target price on BioMarin Pharmaceutical from $73.00 to $70.00 and set a “neutral” rating for the company in a research report on Tuesday, August 1st. 500.com reaffirmed a “reiterates” rating on shares of BioMarin Pharmaceutical in a research report on Friday, June 30th. Finally, Bank of America decreased their target price on BioMarin Pharmaceutical to $185.00 and set a “buy” rating for the company in a research report on Friday, July 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $115.00.
BioMarin Pharmaceutical Stock Down 2.6 %
Shares of NASDAQ:BMRN traded down $2.43 on Thursday, reaching $91.38. The company had a trading volume of 1,409,806 shares, compared to its average volume of 1,309,709. BioMarin Pharmaceutical Inc. has a twelve month low of $80.53 and a twelve month high of $117.77. The stock has a 50-day moving average price of $89.07 and a 200 day moving average price of $93.32. The stock has a market capitalization of $17.20 billion, a P/E ratio of 180.41 and a beta of 0.37. The company has a quick ratio of 3.31, a current ratio of 4.94 and a debt-to-equity ratio of 0.23.
BioMarin Pharmaceutical (NASDAQ:BMRN – Get Free Report) last posted its quarterly earnings data on Monday, July 31st. The biotechnology company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.10. BioMarin Pharmaceutical had a return on equity of 4.03% and a net margin of 4.47%. The business had revenue of $595.28 million for the quarter, compared to analyst estimates of $591.46 million. On average, equities analysts expect that BioMarin Pharmaceutical Inc. will post 1.25 EPS for the current year.
About BioMarin Pharmaceutical
BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.