BioMarin Pharmaceutical Inc. (BMRN) Shares Sold by OLD Mutual Customised Solutions Proprietary Ltd.

OLD Mutual Customised Solutions Proprietary Ltd. trimmed its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 14.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,610 shares of the biotechnology company’s stock after selling 1,400 shares during the quarter. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in BioMarin Pharmaceutical were worth $811,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Financial Gravity Wealth Inc. acquired a new position in BioMarin Pharmaceutical in the first quarter valued at approximately $195,000. Allen Investment Management LLC acquired a new position in BioMarin Pharmaceutical in the second quarter valued at approximately $203,000. Jump Trading LLC acquired a new position in BioMarin Pharmaceutical in the first quarter valued at approximately $240,000. Reilly Financial Advisors LLC acquired a new position in BioMarin Pharmaceutical in the second quarter valued at approximately $254,000. Finally, Wedbush Securities Inc. acquired a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at approximately $262,000.

Shares of NASDAQ BMRN opened at $99.41 on Friday. The company has a current ratio of 2.83, a quick ratio of 2.24 and a debt-to-equity ratio of 0.28. BioMarin Pharmaceutical Inc. has a 1-year low of $75.81 and a 1-year high of $106.20.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Thursday, August 2nd. The biotechnology company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.03). BioMarin Pharmaceutical had a negative return on equity of 3.00% and a negative net margin of 8.68%. The company had revenue of $372.80 million for the quarter, compared to analyst estimates of $359.25 million. During the same period in the prior year, the business earned ($0.21) earnings per share. BioMarin Pharmaceutical’s revenue for the quarter was up 17.4% compared to the same quarter last year. equities research analysts expect that BioMarin Pharmaceutical Inc. will post -0.24 EPS for the current fiscal year.

In related news, Director Elaine J. Heron sold 1,000 shares of the stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $96.94, for a total transaction of $96,940.00. Following the completion of the sale, the director now directly owns 41,685 shares of the company’s stock, valued at $4,040,943.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Alan Lewis sold 4,200 shares of the stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $100.09, for a total value of $420,378.00. Following the sale, the director now directly owns 21,160 shares of the company’s stock, valued at $2,117,904.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,617 shares of company stock valued at $7,738,695. Corporate insiders own 1.90% of the company’s stock.

Several equities research analysts have recently weighed in on BMRN shares. ValuEngine downgraded BioMarin Pharmaceutical from a “hold” rating to a “sell” rating in a report on Tuesday, May 22nd. Canaccord Genuity increased their price objective on BioMarin Pharmaceutical from $101.00 to $105.00 and gave the company a “buy” rating in a report on Friday, May 25th. Credit Suisse Group increased their price objective on BioMarin Pharmaceutical from $116.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, May 25th. Wedbush increased their price objective on BioMarin Pharmaceutical from $112.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, May 25th. Finally, Citigroup increased their price objective on BioMarin Pharmaceutical to $108.00 and gave the company a “buy” rating in a report on Tuesday, May 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $116.28.

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

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