BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Purchased by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC grew its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRNGet Rating) by 3.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,763 shares of the biotechnology company’s stock after purchasing an additional 1,134 shares during the period. Gateway Investment Advisers LLC’s holdings in BioMarin Pharmaceutical were worth $3,129,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of BMRN. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in BioMarin Pharmaceutical by 22.0% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,356 shares of the biotechnology company’s stock worth $1,190,000 after acquiring an additional 2,584 shares during the period. Rothschild Investment Corp IL grew its position in shares of BioMarin Pharmaceutical by 7.2% in the second quarter. Rothschild Investment Corp IL now owns 15,604 shares of the biotechnology company’s stock valued at $1,293,000 after purchasing an additional 1,050 shares during the period. State of Alaska Department of Revenue acquired a new position in BioMarin Pharmaceutical in the second quarter valued at $427,000. Stonnington Group LLC lifted its position in BioMarin Pharmaceutical by 40.0% during the second quarter. Stonnington Group LLC now owns 4,200 shares of the biotechnology company’s stock worth $371,000 after buying an additional 1,200 shares during the period. Finally, Covington Capital Management boosted its stake in BioMarin Pharmaceutical by 40.8% in the 2nd quarter. Covington Capital Management now owns 704 shares of the biotechnology company’s stock worth $58,000 after buying an additional 204 shares during the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Brian Mueller sold 7,337 shares of the company’s stock in a transaction on Friday, July 8th. The stock was sold at an average price of $89.50, for a total transaction of $656,661.50. Following the completion of the transaction, the chief financial officer now directly owns 30,726 shares in the company, valued at approximately $2,749,977. The sale was disclosed in a document filed with the SEC, which is available through this link. In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 6,205 shares of the business’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $96.56, for a total transaction of $599,154.80. Following the completion of the transaction, the executive vice president now directly owns 42,168 shares of the company’s stock, valued at approximately $4,071,742.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian Mueller sold 7,337 shares of the firm’s stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $89.50, for a total transaction of $656,661.50. Following the completion of the sale, the chief financial officer now owns 30,726 shares in the company, valued at approximately $2,749,977. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,940 shares of company stock valued at $2,873,126. Insiders own 1.75% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on BMRN. Piper Sandler boosted their price objective on shares of BioMarin Pharmaceutical from $125.00 to $128.00 and gave the company an “overweight” rating in a research note on Tuesday, August 9th. Robert W. Baird reiterated an “outperform” rating and issued a $112.00 price objective on shares of BioMarin Pharmaceutical in a report on Friday, August 26th. Cantor Fitzgerald began coverage on BioMarin Pharmaceutical in a research note on Tuesday, July 12th. They set an “overweight” rating and a $110.00 target price for the company. StockNews.com upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Tuesday, August 9th. Finally, Wedbush restated a “neutral” rating and set a $74.00 price objective on shares of BioMarin Pharmaceutical in a report on Tuesday, September 13th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $112.86.

BioMarin Pharmaceutical Trading Down 0.2 %

BioMarin Pharmaceutical stock opened at $84.92 on Friday. BioMarin Pharmaceutical Inc. has a 1 year low of $70.73 and a 1 year high of $97.76. The firm’s 50-day moving average is $89.93 and its 200-day moving average is $83.67. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.69 and a current ratio of 5.42. The company has a market cap of $15.75 billion, a P/E ratio of 326.63, a PEG ratio of 1.91 and a beta of 0.32.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Rating) last issued its earnings results on Wednesday, August 3rd. The biotechnology company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.13. The firm had revenue of $533.80 million for the quarter, compared to analysts’ expectations of $514.18 million. BioMarin Pharmaceutical had a net margin of 2.83% and a return on equity of 1.78%. During the same quarter last year, the company posted $0.23 earnings per share. On average, equities analysts expect that BioMarin Pharmaceutical Inc. will post 0.91 earnings per share for the current year.

BioMarin Pharmaceutical Profile

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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.

See Also

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

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