Freestone Capital Holdings LLC Buys Shares of 3,798 BioMarin Pharmaceutical Inc. (BMRN)

Freestone Capital Holdings LLC bought a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 3,798 shares of the biotechnology company’s stock, valued at approximately $323,000.

Other hedge funds have also modified their holdings of the company. Doyle Wealth Management bought a new stake in shares of BioMarin Pharmaceutical during the 4th quarter valued at $26,000. Lindbrook Capital LLC bought a new position in BioMarin Pharmaceutical in the 4th quarter worth $30,000. Exane Derivatives boosted its holdings in BioMarin Pharmaceutical by 3,492.3% in the 4th quarter. Exane Derivatives now owns 467 shares of the biotechnology company’s stock worth $40,000 after buying an additional 454 shares during the period. Patriot Financial Group Insurance Agency LLC bought a new position in BioMarin Pharmaceutical in the 4th quarter worth $51,000. Finally, We Are One Seven LLC bought a new position in BioMarin Pharmaceutical in the 4th quarter worth $55,000.

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BMRN opened at $91.05 on Thursday. BioMarin Pharmaceutical Inc. has a 52 week low of $75.81 and a 52 week high of $106.74. The stock has a market cap of $16.58 billion, a price-to-earnings ratio of -275.91 and a beta of 1.63. The company has a quick ratio of 2.26, a current ratio of 2.87 and a debt-to-equity ratio of 0.28.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Thursday, February 21st. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.07. The firm had revenue of $353.00 million for the quarter, compared to analysts’ expectations of $377.35 million. BioMarin Pharmaceutical had a negative net margin of 5.18% and a negative return on equity of 2.82%. The business’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.03 EPS. On average, sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 0.05 EPS for the current fiscal year.

In other news, insider Henry J. Fuchs sold 2,196 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $95.00, for a total transaction of $208,620.00. Following the sale, the insider now directly owns 142,504 shares in the company, valued at approximately $13,537,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jean Jacques Bienaime sold 2,000 shares of the company’s stock in a transaction dated Wednesday, December 12th. The shares were sold at an average price of $93.12, for a total transaction of $186,240.00. Following the sale, the chief executive officer now owns 290,290 shares in the company, valued at $27,031,804.80. The disclosure for this sale can be found here. Insiders have sold a total of 46,346 shares of company stock worth $4,196,630 over the last 90 days. Corporate insiders own 1.90% of the company’s stock.

Several research analysts recently weighed in on BMRN shares. Oppenheimer dropped their target price on shares of BioMarin Pharmaceutical from $92.00 to $81.00 in a report on Friday, February 22nd. Cowen reaffirmed a “buy” rating on shares of BioMarin Pharmaceutical in a report on Monday, January 7th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $126.00 target price on shares of BioMarin Pharmaceutical in a report on Monday, January 7th. Wedbush set a $127.00 target price on shares of BioMarin Pharmaceutical and gave the stock a “buy” rating in a report on Wednesday, November 14th. Finally, SunTrust Banks dropped their target price on shares of BioMarin Pharmaceutical to $117.00 and set a “buy” rating for the company in a report on Monday, February 25th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $112.82.

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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 that is used for the treatment of patients with mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Firdapse for Lambert Eaton Myasthenic Syndrome.

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