AMP Capital Investors Ltd trimmed its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,245 shares of the biotechnology company’s stock after selling 2,665 shares during the quarter. AMP Capital Investors Ltd owned 0.07% of BioMarin Pharmaceutical worth $11,257,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Manhattan Co. raised its stake in shares of BioMarin Pharmaceutical by 104.2% in the fourth quarter. First Manhattan Co. now owns 1,225 shares of the biotechnology company’s stock valued at $109,000 after purchasing an additional 625 shares in the last quarter. Financial Gravity Companies Inc. acquired a new position in shares of BioMarin Pharmaceutical in the fourth quarter valued at $112,000. Commerce Bank acquired a new position in shares of BioMarin Pharmaceutical in the third quarter valued at $209,000. Teacher Retirement System of Texas acquired a new position in shares of BioMarin Pharmaceutical in the third quarter valued at $220,000. Finally, First Republic Investment Management Inc. acquired a new position in shares of BioMarin Pharmaceutical in the third quarter valued at $220,000.
Several research firms have issued reports on BMRN. Wedbush reiterated an “outperform” rating and set a $110.00 price objective on shares of BioMarin Pharmaceutical in a research note on Monday. Leerink Swann dropped their price objective on BioMarin Pharmaceutical from $142.00 to $132.00 and set an “outperform” rating for the company in a research note on Friday, February 23rd. SunTrust Banks increased their price objective on BioMarin Pharmaceutical to $130.00 and gave the stock a “buy” rating in a research note on Monday, December 11th. Zacks Investment Research lowered BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Wednesday, January 17th. Finally, Deutsche Bank set a $124.00 price objective on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research note on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. BioMarin Pharmaceutical currently has a consensus rating of “Buy” and an average price target of $112.34.
Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) opened at $86.16 on Wednesday. BioMarin Pharmaceutical Inc. has a 12 month low of $77.04 and a 12 month high of $100.51. The firm has a market capitalization of $15,130.00, a price-to-earnings ratio of -94.68 and a beta of 1.73. The company has a quick ratio of 2.12, a current ratio of 2.70 and a debt-to-equity ratio of 0.29.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Thursday, February 22nd. The biotechnology company reported ($0.30) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.06). BioMarin Pharmaceutical had a negative net margin of 8.91% and a negative return on equity of 3.18%. The business had revenue of $358.31 million during the quarter, compared to analyst estimates of $346.24 million. sell-side analysts predict that BioMarin Pharmaceutical Inc. will post -0.67 EPS for the current year.
WARNING: This report was first posted by American Banking News and is owned by of American Banking News. If you are reading this report on another website, it was copied illegally and reposted in violation of US & international copyright and trademark law. The original version of this report can be accessed at https://www.americanbankingnews.com/2018/03/14/amp-capital-investors-ltd-sells-2665-shares-of-biomarin-pharmaceutical-inc-bmrn.html.
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).
Receive News & Ratings for BioMarin Pharmaceutical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioMarin Pharmaceutical and related companies with MarketBeat.com's FREE daily email newsletter.