BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc grew its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 13.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,657 shares of the biotechnology company’s stock after purchasing an additional 926 shares during the period. CIBC Asset Management Inc’s holdings in BioMarin Pharmaceutical were worth $503,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. TD Private Client Wealth LLC lifted its stake in shares of BioMarin Pharmaceutical by 57.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 186 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in shares of BioMarin Pharmaceutical by 920.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 663 shares in the last quarter. True Wealth Design LLC lifted its stake in shares of BioMarin Pharmaceutical by 13,400.0% in the 3rd quarter. True Wealth Design LLC now owns 810 shares of the biotechnology company’s stock valued at $57,000 after purchasing an additional 804 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of BioMarin Pharmaceutical by 504.9% in the 3rd quarter. Blue Trust Inc. now owns 859 shares of the biotechnology company’s stock valued at $60,000 after purchasing an additional 717 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of BioMarin Pharmaceutical by 260.1% in the 4th quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company’s stock valued at $67,000 after purchasing an additional 736 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on BMRN shares. JPMorgan Chase & Co. dropped their target price on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday. Scotiabank raised their target price on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday. Finally, StockNews.com upgraded BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a report on Saturday. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and an average price target of $93.81.

BioMarin Pharmaceutical Price Performance

Shares of BMRN opened at $68.25 on Friday. The firm has a market cap of $13.01 billion, a price-to-earnings ratio of 31.02, a PEG ratio of 0.61 and a beta of 0.28. The stock has a 50 day moving average of $64.88 and a 200-day moving average of $70.96. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 52 week low of $60.63 and a 52 week high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.54 by $0.18. The company had revenue of $747.31 million during the quarter, compared to analyst estimates of $711.05 million. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. As a group, analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 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.