Pearl River Capital LLC Buys Shares of 1,527 BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Pearl River Capital LLC bought a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,527 shares of the biotechnology company’s stock, valued at approximately $129,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Signaturefd LLC boosted its holdings in shares of BioMarin Pharmaceutical by 43.1% during the first quarter. Signaturefd LLC now owns 382 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 115 shares during the period. Schmidt P J Investment Management Inc. boosted its position in BioMarin Pharmaceutical by 4.5% during the 1st quarter. Schmidt P J Investment Management Inc. now owns 3,246 shares of the biotechnology company’s stock worth $274,000 after acquiring an additional 140 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in BioMarin Pharmaceutical by 3.7% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 3,945 shares of the biotechnology company’s stock worth $333,000 after acquiring an additional 140 shares during the period. Stephenson National Bank & Trust boosted its position in BioMarin Pharmaceutical by 11.7% during the 1st quarter. Stephenson National Bank & Trust now owns 1,851 shares of the biotechnology company’s stock worth $156,000 after acquiring an additional 194 shares during the period. Finally, M&T Bank Corp boosted its position in BioMarin Pharmaceutical by 2.8% during the 4th quarter. M&T Bank Corp now owns 7,650 shares of the biotechnology company’s stock worth $648,000 after acquiring an additional 205 shares during the period. Institutional investors and hedge funds own 95.71% of the company’s stock.

BMRN has been the subject of a number of recent research reports. SunTrust Banks cut their price target on BioMarin Pharmaceutical from $110.00 to $109.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. William Blair reaffirmed a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Friday, May 1st. Nomura Securities reaffirmed a “hold” rating and set a $77.00 price target on shares of BioMarin Pharmaceutical in a research note on Monday, March 2nd. Citigroup raised their price target on BioMarin Pharmaceutical from $95.00 to $105.00 in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Sunday, February 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $111.57.

In other news, CEO Jean Jacques Bienaime sold 20,000 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $97.58, for a total transaction of $1,951,600.00. Following the completion of the sale, the chief executive officer now owns 318,213 shares in the company, valued at $31,051,224.54. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Henry J. Fuchs sold 17,213 shares of the business’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $90.00, for a total value of $1,549,170.00. Following the sale, the insider now owns 122,656 shares of the company’s stock, valued at approximately $11,039,040. The disclosure for this sale can be found here. In the last three months, insiders sold 128,452 shares of company stock worth $11,606,725. Insiders own 2.15% of the company’s stock.

BMRN stock traded down $1.37 during trading on Wednesday, hitting $94.79. The company had a trading volume of 1,185,981 shares, compared to its average volume of 1,588,630. The company has a fifty day moving average price of $86.74 and a two-hundred day moving average price of $84.11. The company has a current ratio of 2.58, a quick ratio of 1.72 and a debt-to-equity ratio of 0.15. The company has a market cap of $17.45 billion, a P/E ratio of 157.62 and a beta of 1.01. BioMarin Pharmaceutical Inc. has a fifty-two week low of $62.88 and a fifty-two week high of $100.75.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.32. The business had revenue of $502.07 million for the quarter, compared to analyst estimates of $468.77 million. BioMarin Pharmaceutical had a return on equity of 3.62% and a net margin of 6.31%. BioMarin Pharmaceutical’s quarterly revenue was up 25.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.32) EPS. On average, analysts expect that BioMarin Pharmaceutical Inc. will post 0.41 earnings per share for the current year.

About BioMarin Pharmaceutical

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

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