Assenagon Asset Management SA decreases its shares in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)


Assenagon Asset Management SA reduced its stake in the shares of BioMarin Pharmaceutical Inc. (NASDAQ: BMRNGet a rating) by 57.4% during the 1st quarter, according to the company in its last filing with the SEC. The fund held 50,565 shares of the biotech company after selling 68,115 shares during the quarter. Assenagon Asset Management SA’s holdings in BioMarin Pharmaceutical were worth $3,899,000 at the end of the last quarter.

Other hedge funds and other institutional investors have also recently increased or reduced their stakes in the company. Spire Wealth Management increased its position in BioMarin Pharmaceutical shares by 59.7% during the fourth quarter. Spire Wealth Management now owns 377 shares of the biotech company valued at $33,000 after buying 141 more shares in the last quarter. CWM LLC increased its position in BioMarin Pharmaceutical shares by 435.2% during the 1st quarter. CWM LLC now owns 487 shares of the biotech company valued at $38,000 after buying 396 additional shares in the last quarter. Desjardins Global Asset Management Inc. acquired a new position in shares of BioMarin Pharmaceutical during Q4 worth approximately $53,000. Itau Unibanco Holding SA increased its position in BioMarin Pharmaceutical shares by 37.3% during the 4th quarter. Itau Unibanco Holding SA now owns 869 shares of the biotech company valued at $77,000 after buying 236 more shares in the last quarter. Finally, Capital Analysts LLC bought a new position in shares of BioMarin Pharmaceutical during Q4 valued at around $83,000. 95.45% of the shares are currently held by hedge funds and other institutional investors.

BMRN opened at $87.83 on Tuesday. BioMarin Pharmaceutical Inc. has a 12-month low of $70.73 and a 12-month high of $94.20. The company has a current ratio of 4.88, a quick ratio of 3.28 and a debt ratio of 0.25. The company’s fifty-day simple moving average is $79.76 and its 200-day simple moving average is $82.22. The company has a market capitalization of $16.25 billion, a price/earnings ratio of 487.94, a PEG ratio of 1.87 and a beta of 0.33.

BioMarin Pharmaceutical (NASDAQ: BMRNGet a rating) last released its quarterly earnings data on Wednesday, April 27. The biotech company reported earnings per share of $0.31 for the quarter, beating analysts’ consensus estimate of $0.15 by $0.16. The company posted revenue of $519.36 million in the quarter, compared to $505.11 million expected by analysts. BioMarin Pharmaceutical achieved a return on equity of 1.36% and a net margin of 2.09%. During the same period a year earlier, the company posted EPS of $0.29. On average, equity research analysts expect BioMarin Pharmaceutical Inc. to post EPS of 0.94 for the current year.

In related news, EVP Jeffrey Robert Ajer sold 1,180 shares of the company in a trade on Wednesday, April 13. The stock was sold at an average price of $82.47, for a total transaction of $97,314.60. Following the completion of the sale, the executive vice president now directly owns 55,077 shares of the company, valued at approximately $4,542,200.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, available at the SEC website. Also, CEO Jean-Jacques Bienaime sold 20,000 shares of the company in a transaction on Monday, April 18. The stock was sold at an average price of $81.91, for a total value of $1,638,200.00. Following the sale, the CEO now owns 334,983 shares of the company, valued at $27,438,457.53. Disclosure of this sale can be found here. Insiders sold a total of 105,161 shares of the company valued at $8,762,980 in the past 90 days. 1.75% of the shares are currently held by insiders of the company.

Several stock analysts have weighed in on the company recently. Jefferies Financial Group reissued a “buy” rating and set a target price of $100.00 on shares of BioMarin Pharmaceutical in a Wednesday, May 4, research report. Stifel Nicolaus reaffirmed a “buy” rating and posted a $96.00 price target on BioMarin Pharmaceutical shares in a Tuesday, May 3 research report. StockNews.com downgraded BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a Monday, May 30 research report. Credit Suisse Group raised its price target on BioMarin Pharmaceutical from $105.00 to $106.00 and gave the company an “outperform” rating in a Monday, June 6 research report. Finally, Robert W. Baird reaffirmed an “outperform” rating and posted a $112.00 price target on BioMarin Pharmaceutical shares in a research report on Tuesday, June 28. Four analysts gave the stock a hold rating and ten gave the company a buy rating. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $108.46.

BioMarin pharmaceutical profile (Get a rating)

BioMarin Pharmaceutical Inc develops and markets therapies for people with rare diseases and serious, life-threatening 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 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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