Allstate Corp Acquires Shares of 5,594 BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Allstate Corp purchased a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,594 shares of the biotechnology company's stock, valued at approximately $368,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund boosted its stake in BioMarin Pharmaceutical by 0.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 38,738 shares of the biotechnology company's stock worth $2,546,000 after buying an additional 164 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of BioMarin Pharmaceutical by 13.9% during the 4th quarter. Fifth Third Bancorp now owns 1,351 shares of the biotechnology company's stock valued at $89,000 after purchasing an additional 165 shares during the last quarter. TD Private Client Wealth LLC lifted its stake in BioMarin Pharmaceutical by 57.4% in 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. First Hawaiian Bank boosted its position in BioMarin Pharmaceutical by 1.4% during the fourth quarter. First Hawaiian Bank now owns 14,700 shares of the biotechnology company's stock valued at $966,000 after buying an additional 200 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of BioMarin Pharmaceutical by 27.5% during the fourth quarter. Blue Trust Inc. now owns 1,095 shares of the biotechnology company's stock valued at $77,000 after buying an additional 236 shares during the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Analyst Ratings Changes

Several brokerages recently commented on BMRN. Wedbush reaffirmed an "outperform" rating and issued a $94.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Royal Bank of Canada reiterated a "sector perform" rating and set a $70.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. UBS Group boosted their price target on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Scotiabank lifted their price target on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a "sector perform" rating in a report on Thursday, February 20th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $90.00 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 and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $94.00.

BioMarin Pharmaceutical Stock Down 10.7 %

Shares of BMRN stock traded down $7.22 during mid-day trading on Friday, hitting $60.26. The company's stock had a trading volume of 3,545,266 shares, compared to its average volume of 1,857,849. The stock has a market cap of $11.50 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 0.61 and a beta of 0.30. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33. BioMarin Pharmaceutical Inc. has a 52-week low of $60.02 and a 52-week high of $94.85. The business has a 50-day moving average price of $67.98 and a 200 day moving average price of $67.31.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $747.31 million for the quarter, compared to the consensus estimate of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. Research analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,344 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $68.38, for a total transaction of $91,902.72. Following the sale, 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 position. The transaction was disclosed in a legal filing 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.