Inceptionr LLC Purchases Shares of 34,019 BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Inceptionr LLC acquired a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 34,019 shares of the biotechnology company's stock, valued at approximately $2,236,000. BioMarin Pharmaceutical makes up about 0.5% of Inceptionr LLC's portfolio, making the stock its 14th biggest holding.

Other hedge funds have also made changes to their positions in the company. TD Private Client Wealth LLC lifted its stake in BioMarin Pharmaceutical by 57.4% during the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company's stock worth $36,000 after purchasing an additional 186 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in BioMarin Pharmaceutical during the fourth quarter worth approximately $36,000. Meeder Asset Management Inc. lifted its position in shares of BioMarin Pharmaceutical by 920.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company's stock worth $52,000 after buying an additional 663 shares during the last quarter. True Wealth Design LLC boosted its holdings 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 buying an additional 804 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew 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 valued at $58,000 after buying an additional 466 shares during the last quarter. Hedge funds and other institutional investors own 98.71% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BMRN shares. Piper Sandler boosted their price target on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Royal Bank of Canada reissued a "sector perform" rating and issued a $70.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. StockNews.com upgraded BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research note on Monday. Wolfe Research began coverage on BioMarin Pharmaceutical in a research note on Friday, November 15th. They issued an "outperform" rating and a $95.00 price objective for the company. Finally, Wedbush reissued an "outperform" rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of "Moderate Buy" and a consensus price target of $94.00.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN traded down $0.20 during trading on Monday, hitting $72.03. 1,538,222 shares of the company were exchanged, compared to its average volume of 1,777,690. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. BioMarin Pharmaceutical Inc. has a 1 year low of $60.63 and a 1 year high of $94.85. The company has a market cap of $13.74 billion, a price-to-earnings ratio of 32.74, a PEG ratio of 0.61 and a beta of 0.33. The firm's fifty day moving average price is $65.76 and its 200 day moving average price is $69.34.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $711.05 million. On average, sell-side analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,344 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $68.38, for a total value of $91,902.72. Following the sale, the chief accounting officer now owns 13,105 shares of the company's stock, valued at approximately $896,119.90. This represents a 9.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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.