Marshall Wace LLP Takes $44.74 Million Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Marshall Wace LLP purchased a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 680,594 shares of the biotechnology company's stock, valued at approximately $44,735,000. Marshall Wace LLP owned about 0.36% of BioMarin Pharmaceutical at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. NewEdge Advisors LLC increased its position in shares of BioMarin Pharmaceutical by 1,200.4% during the 4th quarter. NewEdge Advisors LLC now owns 3,381 shares of the biotechnology company's stock worth $222,000 after purchasing an additional 3,121 shares during the last quarter. United Capital Financial Advisors LLC bought a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at about $263,000. Gamco Investors INC. ET AL lifted its stake in BioMarin Pharmaceutical by 52.9% in the 4th quarter. Gamco Investors INC. ET AL now owns 10,040 shares of the biotechnology company's stock valued at $660,000 after purchasing an additional 3,475 shares during the last quarter. Gabelli Funds LLC grew its holdings in BioMarin Pharmaceutical by 58.4% during the fourth quarter. Gabelli Funds LLC now owns 20,339 shares of the biotechnology company's stock worth $1,337,000 after purchasing an additional 7,500 shares during the period. Finally, Dodge & Cox increased its position in BioMarin Pharmaceutical by 6.1% during the fourth quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company's stock worth $969,270,000 after buying an additional 847,917 shares during the last quarter. 98.71% of the stock is owned by institutional investors.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,295 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total transaction of $92,618.40. Following the transaction, the chief accounting officer now directly owns 16,955 shares of the company's stock, valued at approximately $1,212,621.60. The trade was a 7.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.85% of the stock is currently owned by corporate insiders.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN traded up $0.66 during midday trading on Wednesday, hitting $62.16. 396,550 shares of the company's stock were exchanged, compared to its average volume of 1,893,893. The business's fifty day moving average price is $66.54 and its two-hundred day moving average price is $66.13. The company has a market cap of $11.86 billion, a price-to-earnings ratio of 28.25, a PEG ratio of 0.61 and a beta of 0.30. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 12-month low of $52.93 and a 12-month high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.54 by $0.18. The business had revenue of $747.31 million for the quarter, compared to the consensus estimate 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 forecast that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BMRN has been the subject of a number of research reports. Royal Bank of Canada reissued a "sector perform" rating and set a $70.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. StockNews.com downgraded shares of BioMarin Pharmaceutical from a "strong-buy" rating to a "buy" rating in a research report on Thursday, April 17th. Bank of America upped their price objective on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Cantor Fitzgerald reissued an "overweight" rating and set a $90.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Finally, Citigroup lifted their price target on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a "neutral" rating in a 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $94.00.

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.