Allstate Corp Takes $368,000 Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Allstate Corp bought a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 5,594 shares of the biotechnology company’s stock, valued at approximately $368,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC bought a new stake in BioMarin Pharmaceutical during the fourth quarter valued at about $1,540,000. Norges Bank purchased a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth about $234,645,000. Sava Infond d.o.o. bought a new stake in BioMarin Pharmaceutical during the 4th quarter valued at approximately $214,000. Elo Mutual Pension Insurance Co lifted its holdings in BioMarin Pharmaceutical by 13.1% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 19,069 shares of the biotechnology company’s stock worth $1,253,000 after purchasing an additional 2,203 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in BioMarin Pharmaceutical by 13.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 143,145 shares of the biotechnology company’s stock worth $9,566,000 after purchasing an additional 16,471 shares during the period. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Trading Up 0.6 %

BMRN opened at $68.32 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33. The stock’s 50 day moving average price is $67.88 and its 200-day moving average price is $67.30. BioMarin Pharmaceutical Inc. has a one year low of $60.63 and a one year high of $94.85. The stock has a market cap of $13.03 billion, a price-to-earnings ratio of 31.05, a P/E/G ratio of 0.61 and a beta of 0.33.

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Scotiabank boosted their price target on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 20th. UBS Group increased 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. Wedbush reaffirmed an “outperform” rating and issued a $94.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Finally, Oppenheimer raised BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price target for the company in a research note on Monday, February 24th. Seven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $94.00.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,295 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total value of $92,618.40. Following the transaction, the chief accounting officer now directly owns 16,955 shares in the company, valued at $1,212,621.60. This represents a 7.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.85% of the stock is currently owned by insiders.

About BioMarin Pharmaceutical

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.