Commerce Bank acquires 198 shares of BioMarin Pharmaceutical Inc. (NASDAQ: BMRN)


Commerce Bank increased its stake in the shares of BioMarin Pharmaceutical Inc. (NASDAQ: BMRNGet a rating) by 3.8% in the first quarter, according to its most recent Form 13F filed with the Securities and Exchange Commission. The company held 5,419 shares of the biotech company after acquiring 198 additional shares during the quarter. Commerce Bank’s holdings in BioMarin Pharmaceutical were worth $418,000 when it last filed with the SEC.

A number of other hedge funds also bought and sold shares of the company. CKW Financial Group increased its stake in BioMarin Pharmaceutical by 23.1% during the first quarter. CKW Financial Group now owns 800 shares of the biotech company worth $63,000 after acquiring an additional 150 shares during the period. Evoke Wealth LLC increased its stake in shares of BioMarin Pharmaceutical by 9.1% in the fourth quarter. Evoke Wealth LLC now owns 2,071 shares of the biotech company valued at $183,000 after purchasing an additional 173 shares during the period. Itau Unibanco Holding SA increased its stake in BioMarin Pharmaceutical shares by 37.3% in the fourth quarter. Itau Unibanco Holding SA now owns 869 shares of the biotech company valued at $77,000 after buying an additional 236 shares during the period. MUFG Americas Holdings Corp increased its stake in shares of BioMarin Pharmaceutical by 2.6% in the first quarter. MUFG Americas Holdings Corp now owns 10,168 shares of the biotech company valued at $783,000 after purchasing an additional 258 shares during the period. Finally, DAVENPORT & Co LLC increased its stake in shares of BioMarin Pharmaceutical by 4.6% in the first quarter. DAVENPORT & Co LLC now owns 6,146 shares of the biotech company valued at $474,000 after purchasing an additional 271 shares during the period. 95.45% of the shares are currently held by institutional investors.

Insider buying and selling

Separately, Executive Vice President Charles Greg Guyer sold 6,205 shares of the company in a transaction dated Monday, August 8. The stock was 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, valued at $4,071,742.08. The transaction was disclosed in an SEC filing, which is available via this link. In other news, EVP Jeffrey Robert Ajer sold 1,308 shares of the company in a trade dated Thursday, May 26. The stock was sold at an average price of $78.94, for a total value of $103,253.52. Following the completion of the transaction, the executive vice president now directly owns 54,109 shares of the company, valued at approximately $4,271,364.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available via the SEC website. Additionally, Executive Vice President Charles Greg Guyer sold 6,205 shares of the company in a transaction dated Monday, August 8. The stock was sold at an average price of $96.56, for a total value of $599,154.80. Following the completion of the transaction, the executive vice president now owns 42,168 shares of the company, valued at $4,071,742.08. Disclosure of this sale can be found here. Insiders sold a total of 32,248 shares of the company worth $2,976,380 in the past ninety days. 1.75% of the shares are held by insiders.

Price performance of BioMarin Pharmaceutical

BioMarin Pharmaceutical Stock opened at $95.03 on Wednesday. BioMarin Pharmaceutical Inc. has a 52-week low of $70.73 and a 52-week high of $97.76. The company has a 50-day simple moving average of $85.10 and a 200-day simple moving average of $82.64. The company has a quick ratio of 3.69, a current ratio of 5.42 and a leverage ratio of 0.24. The stock has a market capitalization of $17.63 billion, a price/earnings ratio of 365.51, a PEG ratio of 2.11 and a beta of 0.33.

BioMarin Pharmaceutical (NASDAQ: BMRNGet a rating) last reported results on Wednesday, August 3. The biotech company reported EPS of $0.15 for the quarter, beating the consensus estimate of $0.11 by $0.04. BioMarin Pharmaceutical had a return on equity of 1.78% and a net margin of 2.83%. In the same quarter a year earlier, the company earned $0.23 per share. On average, research analysts expect BioMarin Pharmaceutical Inc. to post earnings per share of 0.92 for the current fiscal year.

Analysts set new price targets

BMRN has been the subject of several research reports. Robert W. Baird rephrased an “outperform” rating and issued a target price of $112.00 on BioMarin Pharmaceutical shares in a research note on Tuesday, June 28. Morgan Stanley raised its price target on BioMarin Pharmaceutical from $113.00 to $117.00 and gave the company an “overweight” rating in a Thursday, Aug. 4 research note. Cantor Fitzgerald launched coverage on BioMarin Pharmaceutical in a research note on Tuesday, July 12. They issued an “overweight” rating and a target price of $110.00 on the stock. SVB Leerink raised its target price on BioMarin Pharmaceutical from $115.00 to $122.00 and gave the company an “outperform” rating in a Thursday, August 4, research note. Finally, Jefferies Financial Group restated a “buy” rating and published a target price of $100.00 on BioMarin Pharmaceutical shares in a research note on Wednesday, May 4. Three analysts gave the stock a hold rating and thirteen gave the stock a buy rating. According to data from MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.93.

About BioMarin Pharmaceutical

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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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