BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,260,050 shares of the biotechnology company’s stock after purchasing an additional 60,692 shares during the quarter. Geode Capital Management LLC owned approximately 1.71% of BioMarin Pharmaceutical worth $228,632,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of BioMarin Pharmaceutical by 0.8% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,105 shares of the biotechnology company’s stock valued at $1,483,000 after acquiring an additional 173 shares during the period. Advisors Asset Management Inc. boosted its stake in BioMarin Pharmaceutical by 1.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 11,451 shares of the biotechnology company’s stock valued at $805,000 after purchasing an additional 180 shares during the period. Voisard Asset Management Group Inc. grew its position in BioMarin Pharmaceutical by 17.8% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 1,355 shares of the biotechnology company’s stock worth $95,000 after purchasing an additional 205 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of BioMarin Pharmaceutical by 56.1% in the third quarter. GAMMA Investing LLC now owns 782 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 281 shares during the period. Finally, Innealta Capital LLC bought a new stake in shares of BioMarin Pharmaceutical during the second quarter valued at approximately $25,000. 98.71% of the stock is currently owned by institutional investors.

Insider Activity

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 5,278 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total transaction of $350,300.86. Following the transaction, the executive vice president now directly owns 68,909 shares in the company, valued at approximately $4,573,490.33. The trade was a 7.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.85% of the stock is owned by company insiders.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ BMRN opened at $66.01 on Friday. BioMarin Pharmaceutical Inc. has a 52-week low of $61.15 and a 52-week high of $99.56. The stock has a market capitalization of $12.58 billion, a price-to-earnings ratio of 39.53, a PEG ratio of 0.65 and a beta of 0.29. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11. The stock’s fifty day simple moving average is $66.97 and its 200 day simple moving average is $77.14.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share 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 company had revenue of $746.00 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. As a group, sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 2.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BMRN has been the subject of a number of recent analyst reports. Sanford C. Bernstein decreased their price objective on BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, September 17th. JPMorgan Chase & Co. decreased their price target on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday. Evercore ISI decreased their target price on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Finally, Robert W. Baird dropped their price target on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $94.20.

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.