BI Asset Management Fondsmaeglerselskab A S Grows Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

BI Asset Management Fondsmaeglerselskab A S increased its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 174.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,543 shares of the biotechnology company’s stock after acquiring an additional 5,434 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in BioMarin Pharmaceutical were worth $824,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. KB Financial Partners LLC lifted its position in BioMarin Pharmaceutical by 51.3% during the third quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 118 shares in the last quarter. Lindbrook Capital LLC increased its holdings in shares of BioMarin Pharmaceutical by 259.8% in the 4th quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock worth $37,000 after buying an additional 278 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in BioMarin Pharmaceutical by 135.3% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 249 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in BioMarin Pharmaceutical by 33.3% during the 4th quarter. First Horizon Advisors Inc. now owns 576 shares of the biotechnology company’s stock valued at $56,000 after buying an additional 144 shares during the period. Finally, Allworth Financial LP raised its stake in shares of BioMarin Pharmaceutical by 54.9% in the fourth quarter. Allworth Financial LP now owns 604 shares of the biotechnology company’s stock valued at $58,000 after acquiring an additional 214 shares during the period. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, Director Jean Jacques Bienaime sold 1,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $90.35, for a total transaction of $90,350.00. Following the transaction, the director now owns 562,203 shares in the company, valued at $50,795,041.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other BioMarin Pharmaceutical news, Director Jean Jacques Bienaime sold 1,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $90.35, for a total transaction of $90,350.00. Following the completion of the transaction, the director now directly owns 562,203 shares in the company, valued at $50,795,041.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP George Eric Davis sold 1,850 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $85.01, for a total transaction of $157,268.50. Following the completion of the sale, the executive vice president now owns 56,157 shares in the company, valued at approximately $4,773,906.57. The disclosure for this sale can be found here. Insiders sold a total of 110,079 shares of company stock worth $9,528,436 in the last 90 days. Corporate insiders own 1.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Evercore ISI assumed coverage on BioMarin Pharmaceutical in a report on Tuesday, May 14th. They issued an “outperform” rating and a $113.00 price target on the stock. Canaccord Genuity Group lowered their price target on shares of BioMarin Pharmaceutical from $91.00 to $89.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Wells Fargo & Company raised their price objective on BioMarin Pharmaceutical from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Piper Sandler lowered their target price on shares of BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. Finally, Citigroup dropped their price target on BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $106.11.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN opened at $76.45 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.74 and a quick ratio of 1.70. The firm’s 50 day simple moving average is $84.97 and its 200-day simple moving average is $88.78. BioMarin Pharmaceutical Inc. has a 12 month low of $76.02 and a 12 month high of $99.56. The stock has a market capitalization of $14.52 billion, a price-to-earnings ratio of 71.45, a PEG ratio of 1.10 and a beta of 0.34.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.37 by $0.12. The company had revenue of $648.83 million for the quarter, compared to analyst estimates of $649.75 million. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.34%. Analysts expect that BioMarin Pharmaceutical Inc. will post 1.99 EPS for the current year.

BioMarin Pharmaceutical Profile

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.