Edgestream Partners L.P. Has $9.53 Million Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Edgestream Partners L.P. lifted its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 407.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 144,996 shares of the biotechnology company's stock after purchasing an additional 116,434 shares during the quarter. BioMarin Pharmaceutical makes up about 0.4% of Edgestream Partners L.P.'s investment portfolio, making the stock its 16th largest position. Edgestream Partners L.P. owned 0.08% of BioMarin Pharmaceutical worth $9,531,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of BMRN. Primecap Management Co. CA raised its stake in BioMarin Pharmaceutical by 0.4% in the 3rd quarter. Primecap Management Co. CA now owns 18,867,435 shares of the biotechnology company's stock valued at $1,326,192,000 after acquiring an additional 77,350 shares during the period. Geode Capital Management LLC lifted its holdings in BioMarin Pharmaceutical by 1.9% in the third quarter. Geode Capital Management LLC now owns 3,260,050 shares of the biotechnology company's stock valued at $228,632,000 after buying an additional 60,692 shares during the period. Charles Schwab Investment Management Inc. increased its position in BioMarin Pharmaceutical by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,423,508 shares of the biotechnology company's stock valued at $93,567,000 after buying an additional 21,880 shares in the last quarter. abrdn plc boosted its stake in BioMarin Pharmaceutical by 31.9% during the 4th quarter. abrdn plc now owns 695,802 shares of the biotechnology company's stock valued at $45,735,000 after purchasing an additional 168,121 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new stake in BioMarin Pharmaceutical during the third quarter worth $48,527,000. Institutional investors and hedge funds own 98.71% of the company's stock.

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Analyst Upgrades and Downgrades

BMRN has been the subject of several research analyst reports. Wedbush reiterated an "outperform" rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Bank of America boosted their price objective on shares of BioMarin Pharmaceutical from $99.00 to $103.00 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. Royal Bank of Canada reiterated a "sector perform" rating and set a $70.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Finally, UBS Group upped 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 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's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $94.00.

BioMarin Pharmaceutical Trading Down 2.1 %

Shares of NASDAQ BMRN traded down $1.54 during midday trading on Tuesday, hitting $70.49. The company's stock had a trading volume of 1,224,544 shares, compared to its average volume of 1,775,270. BioMarin Pharmaceutical Inc. has a 12-month low of $60.63 and a 12-month high of $94.85. The firm has a market cap of $13.45 billion, a P/E ratio of 32.04, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33. The business's 50 day moving average is $65.89 and its two-hundred day moving average is $69.21. 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 (NASDAQ:BMRN - Get Free Report) last released 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. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. The business had revenue of $747.31 million during the quarter, compared to analyst estimates of $711.05 million. As a group, equities research analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

Insider Buying and Selling at BioMarin Pharmaceutical

In related 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 completion of the transaction, the chief accounting officer now directly owns 13,105 shares in the company, 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 SEC, which can be accessed through the SEC website. 1.85% of the stock is owned by company insiders.

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.