CMH Wealth Management LLC raised its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 59.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,710 shares of the biotechnology company’s stock after purchasing an additional 16,342 shares during the period. BioMarin Pharmaceutical accounts for approximately 1.7% of CMH Wealth Management LLC’s investment portfolio, making the stock its 24th biggest position. CMH Wealth Management LLC’s holdings in BioMarin Pharmaceutical were worth $2,946,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Doyle Wealth Management acquired a new position in shares of BioMarin Pharmaceutical in the second quarter valued at about $26,000. North Star Investment Management Corp. acquired a new position in shares of BioMarin Pharmaceutical in the third quarter valued at about $25,000. Avestar Capital LLC grew its stake in shares of BioMarin Pharmaceutical by 36.9% in the second quarter. Avestar Capital LLC now owns 750 shares of the biotechnology company’s stock valued at $44,000 after acquiring an additional 202 shares in the last quarter. Ossiam acquired a new position in shares of BioMarin Pharmaceutical in the second quarter valued at about $67,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of BioMarin Pharmaceutical by 35.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,115 shares of the biotechnology company’s stock valued at $98,000 after acquiring an additional 289 shares in the last quarter. Hedge funds and other institutional investors own 97.93% of the company’s stock.
Several research firms recently commented on BMRN. JPMorgan Chase & Co. restated a “buy” rating and issued a $133.00 price target on shares of BioMarin Pharmaceutical in a research note on Monday, August 5th. BidaskClub downgraded shares of BioMarin Pharmaceutical from a “sell” rating to a “strong sell” rating in a research note on Friday, September 27th. Wedbush set a $128.00 price target on shares of BioMarin Pharmaceutical and gave the company a “buy” rating in a research note on Thursday, September 26th. Stifel Nicolaus set a $108.00 price target on shares of BioMarin Pharmaceutical and gave the company a “buy” rating in a research note on Friday, September 13th. Finally, Piper Jaffray Companies set a $120.00 price target on shares of BioMarin Pharmaceutical and gave the company a “buy” rating in a research note on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. BioMarin Pharmaceutical presently has a consensus rating of “Buy” and an average target price of $115.33.
BioMarin Pharmaceutical stock traded up $0.85 during trading hours on Friday, reaching $67.36. 1,017,398 shares of the stock were exchanged, compared to its average volume of 1,178,972. The company has a market cap of $11.94 billion, a P/E ratio of -204.12 and a beta of 1.31. The company has a current ratio of 4.11, a quick ratio of 2.79 and a debt-to-equity ratio of 0.28. BioMarin Pharmaceutical Inc. has a twelve month low of $62.88 and a twelve month high of $106.74. The stock has a 50 day moving average of $71.90 and a two-hundred day moving average of $80.84.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.16). The firm had revenue of $388.00 million for the quarter, compared to analyst estimates of $415.03 million. BioMarin Pharmaceutical had a negative return on equity of 3.12% and a negative net margin of 7.19%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.09) earnings per share. On average, analysts expect that BioMarin Pharmaceutical Inc. will post -0.03 earnings per share for the current fiscal year.
In other BioMarin Pharmaceutical news, Director V Bryan Lawlis sold 3,750 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $74.47, for a total transaction of $279,262.50. Following the sale, the director now directly owns 27,340 shares in the company, valued at $2,036,009.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.90% of the company’s stock.
BioMarin Pharmaceutical Company 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.
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