Bridgewater Associates LP Has $19.88 Million Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Bridgewater Associates LP raised its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 112.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 302,480 shares of the biotechnology company's stock after purchasing an additional 160,166 shares during the quarter. Bridgewater Associates LP owned 0.16% of BioMarin Pharmaceutical worth $19,882,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of BMRN. Norges Bank acquired a new position in shares of BioMarin Pharmaceutical in the 4th quarter worth approximately $234,645,000. Assenagon Asset Management S.A. lifted its stake in BioMarin Pharmaceutical by 461.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company's stock worth $40,205,000 after purchasing an additional 502,695 shares during the last quarter. Candriam S.C.A. boosted its holdings in BioMarin Pharmaceutical by 77.2% in the fourth quarter. Candriam S.C.A. now owns 580,222 shares of the biotechnology company's stock worth $38,138,000 after purchasing an additional 252,820 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in BioMarin Pharmaceutical by 206.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,496 shares of the biotechnology company's stock valued at $23,432,000 after purchasing an additional 240,239 shares during the last quarter. Finally, Tredje AP fonden raised its holdings in shares of BioMarin Pharmaceutical by 662.6% during the fourth quarter. Tredje AP fonden now owns 223,664 shares of the biotechnology company's stock worth $14,701,000 after purchasing an additional 194,334 shares during the period. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. 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 research report on Thursday, February 20th. Piper Sandler increased their price target on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. UBS Group raised their price target on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $70.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Finally, Oppenheimer upgraded 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 report on Monday, February 24th. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $94.00.

Insider Activity at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,295 shares of BioMarin Pharmaceutical stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total value of $92,618.40. Following the completion of the sale, the chief accounting officer now directly owns 16,955 shares in the company, valued at $1,212,621.60. This trade represents a 7.10 % decrease in their ownership of the stock. 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 insiders.

BioMarin Pharmaceutical Stock Up 0.6 %

BMRN stock traded up $0.35 during midday trading on Friday, reaching $59.17. The company 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 P/E ratio of 26.90, a PEG ratio of 0.61 and a beta of 0.30. BioMarin Pharmaceutical Inc. has a 1 year low of $52.93 and a 1 year high of $94.85. 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 company has a 50 day moving average of $66.74 and a two-hundred day moving average of $66.27.

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, topping analysts' consensus estimates of $0.54 by $0.18. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. The business had revenue of $747.31 million during the quarter, compared to analysts' expectations of $711.05 million. On average, equities research analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal 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.