Blueshift Asset Management LLC Takes Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Blueshift Asset Management LLC purchased a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,314 shares of the biotechnology company's stock, valued at approximately $349,000.

Several other hedge funds have also recently bought and sold shares of BMRN. CIBC Asset Management Inc increased its holdings in shares of BioMarin Pharmaceutical by 5.6% in the 3rd quarter. CIBC Asset Management Inc now owns 6,731 shares of the biotechnology company's stock valued at $473,000 after purchasing an additional 359 shares during the period. Quest Partners LLC acquired a new position in BioMarin Pharmaceutical in the 3rd quarter valued at approximately $305,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in BioMarin Pharmaceutical in the 3rd quarter worth approximately $344,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter valued at $8,172,000. Finally, Advisors Asset Management Inc. grew its holdings in shares of BioMarin Pharmaceutical by 1.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 11,451 shares of the biotechnology company's stock valued at $805,000 after acquiring an additional 180 shares in the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BMRN has been the subject of a number of research reports. Citigroup lifted their price objective on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. Bank of America lifted their price target on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Royal Bank of Canada restated a "sector perform" rating and issued a $70.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Wedbush reiterated an "outperform" rating and issued a $94.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Finally, StockNews.com raised shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, March 18th. Seven equities research 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $94.00.

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Insider Activity at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,295 shares of BioMarin Pharmaceutical 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 sale, the chief accounting officer now owns 16,955 shares of the company's stock, valued at approximately $1,212,621.60. This trade represents a 7.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.85% of the stock is owned by corporate insiders.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN traded up $0.44 during mid-day trading on Monday, hitting $71.68. The company's stock had a trading volume of 451,678 shares, compared to its average volume of 1,783,206. The stock's 50-day moving average is $66.58 and its two-hundred day moving average is $67.96. The firm has a market capitalization of $13.68 billion, a PE ratio of 32.58, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33. 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 one year low of $60.63 and a one year high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last issued 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 firm had revenue of $747.31 million during 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%. As a group, sell-side analysts anticipate that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

BioMarin Pharmaceutical 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.