Quadrant Capital Group LLC Boosts Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Quadrant Capital Group LLC grew its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 58.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,776 shares of the biotechnology company’s stock after purchasing an additional 658 shares during the period. Quadrant Capital Group LLC’s holdings in BioMarin Pharmaceutical were worth $117,000 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. TD Private Client Wealth LLC increased its position in shares of BioMarin Pharmaceutical by 57.4% in the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 186 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of BioMarin Pharmaceutical during the 4th quarter valued at about $36,000. CIBC Private Wealth Group LLC increased its position in BioMarin Pharmaceutical by 64.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 233 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of BioMarin Pharmaceutical by 111.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company’s stock worth $58,000 after buying an additional 466 shares during the period. 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. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Up 6.3 %

Shares of BMRN stock opened at $59.43 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 simple moving average is $67.44 and its 200 day simple moving average is $66.80. The company has a market capitalization of $11.34 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 0.61 and a beta of 0.30. BioMarin Pharmaceutical Inc. has a twelve month low of $52.93 and a twelve month high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.18. The firm had revenue of $747.31 million for 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, research analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

Analyst Upgrades and Downgrades

BMRN has been the subject of a number of research reports. Citigroup upped their price target on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Bank of America raised their price target on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Piper Sandler raised their price target on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Finally, UBS Group boosted their price objective on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average target price of $94.00.

Insider Activity

In other news, CAO Erin Burkhart sold 1,295 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total value of $92,618.40. Following the sale, the chief accounting officer now owns 16,955 shares in the company, valued at approximately $1,212,621.60. The trade was a 7.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.85% of the company’s stock.

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.