Capital Research Global Investors Boosts Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Capital Research Global Investors raised its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 23.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,991,772 shares of the biotechnology company’s stock after buying an additional 2,496,817 shares during the quarter. Capital Research Global Investors owned about 6.82% of BioMarin Pharmaceutical worth $853,944,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in BioMarin Pharmaceutical in the 4th quarter worth about $36,000. CIBC Private Wealth Group LLC lifted its stake in shares of BioMarin Pharmaceutical by 64.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company’s stock worth $41,000 after acquiring an additional 233 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in BioMarin Pharmaceutical by 111.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company’s stock valued at $58,000 after acquiring an additional 466 shares during the period. UMB Bank n.a. grew its position in 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 acquiring an additional 736 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in BioMarin Pharmaceutical by 27.5% in the fourth quarter. Blue Trust Inc. now owns 1,095 shares of the biotechnology company’s stock worth $77,000 after purchasing an additional 236 shares during the period. 98.71% of the stock is owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Up 0.6 %

Shares of NASDAQ BMRN opened at $59.17 on Friday. BioMarin Pharmaceutical Inc. has a 52-week low of $52.93 and a 52-week high of $94.85. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11. The company’s 50-day simple moving average is $66.74 and its 200-day simple moving average is $66.25. The firm has a market cap of $11.29 billion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 0.61 and a beta of 0.30.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BMRN. StockNews.com cut shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a report on Thursday. Oppenheimer raised shares of 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Piper Sandler increased their target price on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $94.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $94.00.

Insider Activity

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

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.