Profund Advisors LLC Increases Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Profund Advisors LLC raised its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 11.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,866 shares of the biotechnology company’s stock after buying an additional 6,023 shares during the period. Profund Advisors LLC’s holdings in BioMarin Pharmaceutical were worth $4,893,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. UBS Asset Management Americas Inc. boosted its position in shares of BioMarin Pharmaceutical by 16.6% during the fourth quarter. UBS Asset Management Americas Inc. now owns 1,347,160 shares of the biotechnology company’s stock valued at $113,902,000 after buying an additional 191,514 shares during the period. USS Investment Management Ltd boosted its position in shares of BioMarin Pharmaceutical by 60.3% during the fourth quarter. USS Investment Management Ltd now owns 1,178,462 shares of the biotechnology company’s stock valued at $99,633,000 after buying an additional 443,462 shares during the period. Manning & Napier Group LLC boosted its position in shares of BioMarin Pharmaceutical by 50.7% during the fourth quarter. Manning & Napier Group LLC now owns 1,100,191 shares of the biotechnology company’s stock valued at $93,020,000 after buying an additional 370,098 shares during the period. First Trust Advisors LP boosted its holdings in shares of BioMarin Pharmaceutical by 1.0% in the fourth quarter. First Trust Advisors LP now owns 866,091 shares of the biotechnology company’s stock valued at $73,228,000 after purchasing an additional 8,866 shares during the period. Finally, Pictet Asset Management Ltd. boosted its holdings in shares of BioMarin Pharmaceutical by 29.2% in the fourth quarter. Pictet Asset Management Ltd. now owns 759,861 shares of the biotechnology company’s stock valued at $64,246,000 after purchasing an additional 171,567 shares during the period. Institutional investors and hedge funds own 95.70% of the company’s stock.

Shares of NASDAQ BMRN traded up $2.17 during mid-day trading on Thursday, hitting $82.64. The stock had a trading volume of 1,458,400 shares, compared to its average volume of 1,572,492. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.35 and a current ratio of 2.08. The company has a 50 day moving average of $86.90 and a two-hundred day moving average of $79.99. BioMarin Pharmaceutical Inc. has a twelve month low of $62.88 and a twelve month high of $97.10. The firm has a market cap of $14.48 billion, a PE ratio of -550.93 and a beta of 1.11.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Wednesday, February 26th. The biotechnology company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.07. BioMarin Pharmaceutical had a positive return on equity of 0.81% and a negative net margin of 1.40%. The firm had revenue of $454.44 million for the quarter, compared to the consensus estimate of $461.88 million. Equities research analysts predict that BioMarin Pharmaceutical Inc. will post 0.68 EPS for the current fiscal year.

In related news, CEO Jean Jacques Bienaime sold 10,000 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $89.52, for a total value of $895,200.00. Following the transaction, the chief executive officer now directly owns 296,443 shares of the company’s stock, valued at approximately $26,537,577.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director V Bryan Lawlis sold 3,750 shares of the company’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $75.39, for a total value of $282,712.50. Following the completion of the transaction, the director now directly owns 18,980 shares in the company, valued at $1,430,902.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,750 shares of company stock worth $2,565,693. 1.90% of the stock is owned by insiders.

A number of analysts recently issued reports on BMRN shares. Wedbush reiterated an “outperform” rating on shares of BioMarin Pharmaceutical in a report on Tuesday. Raymond James downgraded shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Cowen reissued a “buy” rating and issued a $150.00 price objective on shares of BioMarin Pharmaceutical in a research note on Monday, December 16th. Robert W. Baird reissued a “buy” rating and issued a $120.00 price objective on shares of BioMarin Pharmaceutical in a research note on Friday, December 13th. Finally, Zacks Investment Research downgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “sell” rating and set a $98.00 price objective for the company. in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $112.32.

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 to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.

Further Reading: Basic Economics

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

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