Principal Financial Group Inc. lessened its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 29.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 458,039 shares of the biotechnology company's stock after selling 191,421 shares during the period. Principal Financial Group Inc. owned 0.24% of BioMarin Pharmaceutical worth $32,196,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Innealta Capital LLC bought a new position in shares of BioMarin Pharmaceutical during the second quarter valued at approximately $25,000. nVerses Capital LLC bought a new position in BioMarin Pharmaceutical during the 3rd quarter worth $28,000. BOKF NA acquired a new stake in BioMarin Pharmaceutical in the second quarter worth $31,000. TD Private Client Wealth LLC lifted its stake in BioMarin Pharmaceutical by 57.4% in the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company's stock valued at $36,000 after buying an additional 186 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of BioMarin Pharmaceutical during the second quarter valued at $47,000. Institutional investors and hedge funds own 98.71% of the company's stock.
In other news, EVP Charles Greg Guyer sold 5,278 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total value of $350,300.86. Following the completion of the sale, the executive vice president now directly owns 68,909 shares of the company's stock, valued at $4,573,490.33. This represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.85% of the stock is currently owned by corporate insiders.
Shares of BMRN opened at $66.27 on Tuesday. The company has a 50-day moving average of $66.58 and a two-hundred day moving average of $76.76. The stock has a market cap of $12.63 billion, a price-to-earnings ratio of 39.68, a PEG ratio of 0.65 and a beta of 0.29. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62. BioMarin Pharmaceutical Inc. has a one year low of $61.15 and a one year high of $99.25.
BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing analysts' consensus estimates of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The firm had revenue of $746.00 million during the quarter, compared to analyst estimates of $703.37 million. During the same period in the prior year, the business posted $0.26 EPS. The company's revenue for the quarter was up 28.4% on a year-over-year basis. On average, equities research analysts expect that BioMarin Pharmaceutical Inc. will post 2.49 earnings per share for the current year.
BMRN has been the topic of a number of analyst reports. Canaccord Genuity Group dropped their price objective on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a "hold" rating on the stock in a report on Wednesday, October 30th. Wells Fargo & Company cut their target price on BioMarin Pharmaceutical from $115.00 to $90.00 and set an "overweight" rating on the stock in a research note on Tuesday, September 17th. Evercore ISI lowered their price target on BioMarin Pharmaceutical from $115.00 to $105.00 and set an "outperform" rating on the stock in a report on Wednesday, October 30th. Robert W. Baird reduced their price objective on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a "neutral" rating for the company in a report on Wednesday, October 30th. Finally, Stifel Nicolaus decreased their target price on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a "buy" rating for the company in a research report on Tuesday, September 17th. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, BioMarin Pharmaceutical presently has an average rating of "Moderate Buy" and a consensus price target of $94.20.
Get Our Latest Research Report on BMRN
BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and 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 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.
Want to see what other hedge funds are holding BMRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider BioMarin Pharmaceutical, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and BioMarin Pharmaceutical wasn't on the list.
While BioMarin Pharmaceutical currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.