Assenagon Asset Management S.A. Grows Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Assenagon Asset Management S.A. lifted its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 461.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 611,667 shares of the biotechnology company's stock after purchasing an additional 502,695 shares during the period. Assenagon Asset Management S.A. owned about 0.32% of BioMarin Pharmaceutical worth $40,205,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of BMRN. Primecap Management Co. CA increased its stake in BioMarin Pharmaceutical by 0.4% during the 3rd quarter. Primecap Management Co. CA now owns 18,867,435 shares of the biotechnology company's stock worth $1,326,192,000 after buying an additional 77,350 shares in the last quarter. Avoro Capital Advisors LLC increased its position in shares of BioMarin Pharmaceutical by 4.4% during the second quarter. Avoro Capital Advisors LLC now owns 4,557,416 shares of the biotechnology company's stock worth $375,212,000 after purchasing an additional 192,416 shares in the last quarter. Geode Capital Management LLC raised its stake in BioMarin Pharmaceutical by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,260,050 shares of the biotechnology company's stock valued at $228,632,000 after purchasing an additional 60,692 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in BioMarin Pharmaceutical by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,401,628 shares of the biotechnology company's stock valued at $98,520,000 after purchasing an additional 55,699 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in BioMarin Pharmaceutical by 38.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,034,457 shares of the biotechnology company's stock worth $85,178,000 after purchasing an additional 289,953 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company's stock.

Insider Transactions at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 5,278 shares of the company's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total transaction of $350,300.86. Following the sale, the executive vice president now owns 68,909 shares of the company's stock, valued at approximately $4,573,490.33. This represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.85% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $90.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, December 12th. UBS Group increased their price objective on shares of BioMarin Pharmaceutical from $104.00 to $106.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Citigroup decreased their target price on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 30th. Canaccord Genuity Group dropped their price target on BioMarin Pharmaceutical from $93.00 to $84.00 and set a "hold" rating for the company in a research report on Wednesday, October 30th. Finally, Evercore ISI reduced their price objective on BioMarin Pharmaceutical from $115.00 to $105.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $94.20.

BioMarin Pharmaceutical Trading Up 0.5 %

NASDAQ:BMRN traded up $0.28 during trading hours on Friday, reaching $61.53. 2,637,029 shares of the stock were exchanged, compared to its average volume of 1,675,935. BioMarin Pharmaceutical Inc. has a twelve month low of $60.63 and a twelve month high of $94.85. The business has a 50-day moving average of $65.49 and a two-hundred day moving average of $74.39. The company has a market capitalization of $11.73 billion, a price-to-earnings ratio of 36.84, a PEG ratio of 0.59 and a beta of 0.29. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.23). The firm had revenue of $746.00 million for the quarter, compared to analyst estimates of $703.37 million. BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. BioMarin Pharmaceutical's revenue was up 28.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.26 EPS. On average, equities analysts predict that BioMarin Pharmaceutical Inc. will post 2.5 EPS for the current year.

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.