Dodge & Cox Buys 847,917 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Dodge & Cox boosted its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 6.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,746,235 shares of the biotechnology company's stock after buying an additional 847,917 shares during the period. Dodge & Cox owned approximately 7.74% of BioMarin Pharmaceutical worth $969,270,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bridgewater Associates LP grew its stake in shares of BioMarin Pharmaceutical by 112.5% during the fourth quarter. Bridgewater Associates LP now owns 302,480 shares of the biotechnology company's stock worth $19,882,000 after purchasing an additional 160,166 shares during the period. XTX Topco Ltd boosted its holdings in BioMarin Pharmaceutical by 161.1% during the fourth quarter. XTX Topco Ltd now owns 18,010 shares of the biotechnology company's stock worth $1,184,000 after buying an additional 11,112 shares during the last quarter. Icon Advisers Inc. Co. acquired a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth about $854,000. Townsquare Capital LLC bought a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at about $296,000. Finally, Rockefeller Capital Management L.P. raised its position in shares of BioMarin Pharmaceutical by 13.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 302,500 shares of the biotechnology company's stock valued at $19,883,000 after acquiring an additional 35,867 shares during the period. 98.71% of the stock is owned by institutional investors.

BioMarin Pharmaceutical Price Performance

BMRN traded up $0.35 on Friday, reaching $59.17. The stock had a trading volume of 1,247,162 shares, compared to its average volume of 1,885,792. The company has a market capitalization of $11.29 billion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth 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. The firm has a 50-day moving average of $66.74 and a 200-day moving average of $66.27. BioMarin Pharmaceutical Inc. has a fifty-two week low of $52.93 and a fifty-two week 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 (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $711.05 million. As a group, sell-side analysts anticipate that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Scotiabank lifted their target price on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a "sector perform" rating in a report on Thursday, February 20th. Oppenheimer raised shares of BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 price target for the company in a research note on Monday, February 24th. Bank of America boosted their price objective on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. UBS Group raised their target price on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Finally, Citigroup raised their target price on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Seven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, BioMarin Pharmaceutical currently has a consensus rating of "Moderate Buy" and a consensus target price of $94.00.

Insiders Place Their Bets

In related news, CAO Erin Burkhart sold 1,344 shares of the company's stock in a transaction dated Monday, February 24th. The shares were 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 in the company, valued at $896,119.90. This represents a 9.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate 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.