E Fund Management Co. Ltd. Buys 1,666 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

E Fund Management Co. Ltd. boosted its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 13.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,462 shares of the biotechnology company’s stock after acquiring an additional 1,666 shares during the quarter. E Fund Management Co. Ltd.’s holdings in BioMarin Pharmaceutical were worth $951,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BMRN. Wealth Enhancement Advisory Services LLC lifted its position in BioMarin Pharmaceutical by 64.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,861 shares of the biotechnology company’s stock valued at $412,000 after acquiring an additional 2,289 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in BioMarin Pharmaceutical by 102.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 11,700 shares of the biotechnology company’s stock valued at $822,000 after acquiring an additional 5,911 shares in the last quarter. National Pension Service increased its stake in BioMarin Pharmaceutical by 4.2% in the 3rd quarter. National Pension Service now owns 345,387 shares of the biotechnology company’s stock valued at $24,277,000 after buying an additional 13,878 shares during the last quarter. AIA Group Ltd increased its stake in BioMarin Pharmaceutical by 15.4% in the 3rd quarter. AIA Group Ltd now owns 3,435 shares of the biotechnology company’s stock valued at $241,000 after buying an additional 458 shares during the last quarter. Finally, Covestor Ltd increased its stake in BioMarin Pharmaceutical by 336.4% in the 3rd quarter. Covestor Ltd now owns 1,030 shares of the biotechnology company’s stock valued at $72,000 after buying an additional 794 shares during the last quarter. 98.71% of the stock is owned by institutional investors.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,344 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $68.38, for a total value of $91,902.72. Following the completion of the transaction, the chief accounting officer now directly owns 13,105 shares in the company, valued at approximately $896,119.90. This represents a 9.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.85% of the company’s stock.

Analyst Upgrades and Downgrades

BMRN has been the topic of a number of research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Scotiabank boosted their price objective on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, February 20th. Oppenheimer raised shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price objective for the company in a report on Monday, February 24th. StockNews.com downgraded shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 2nd. Finally, UBS Group boosted their price objective on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and an average price target of $94.00.

BioMarin Pharmaceutical Trading Up 1.4 %

Shares of NASDAQ BMRN opened at $72.23 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33. BioMarin Pharmaceutical Inc. has a 52-week low of $60.63 and a 52-week high of $94.85. The firm has a 50 day moving average price of $65.76 and a two-hundred day moving average price of $69.67. The stock has a market cap of $13.78 billion, a P/E ratio of 32.83, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33.

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

BioMarin Pharmaceutical Company 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.