Candriam S.C.A. Raises Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Candriam S.C.A. lifted its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 77.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 580,222 shares of the biotechnology company's stock after buying an additional 252,820 shares during the quarter. Candriam S.C.A. owned approximately 0.30% of BioMarin Pharmaceutical worth $38,138,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of BioMarin Pharmaceutical by 64.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,861 shares of the biotechnology company's stock valued at $412,000 after purchasing an additional 2,289 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in BioMarin Pharmaceutical by 102.1% during the third quarter. Janney Montgomery Scott LLC now owns 11,700 shares of the biotechnology company's stock valued at $822,000 after buying an additional 5,911 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in BioMarin Pharmaceutical by 157.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 210,666 shares of the biotechnology company's stock valued at $14,808,000 after buying an additional 128,807 shares during the last quarter. National Pension Service grew its holdings in BioMarin Pharmaceutical by 4.2% during the 3rd quarter. National Pension Service now owns 345,387 shares of the biotechnology company's stock valued at $24,277,000 after buying an additional 13,878 shares in the last quarter. Finally, AIA Group Ltd increased its stake in BioMarin Pharmaceutical by 15.4% in the 3rd quarter. AIA Group Ltd now owns 3,435 shares of the biotechnology company's stock worth $241,000 after acquiring an additional 458 shares during the last quarter. Institutional investors own 98.71% of the company's stock.

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BioMarin Pharmaceutical Trading Down 0.3 %

Shares of NASDAQ BMRN traded down $0.20 during trading hours on Monday, reaching $72.03. The stock had a trading volume of 1,538,222 shares, compared to its average volume of 1,777,690. BioMarin Pharmaceutical Inc. has a 52-week low of $60.63 and a 52-week high of $94.85. The firm has a market cap of $13.74 billion, a price-to-earnings ratio of 32.74, a P/E/G ratio of 0.61 and a beta of 0.33. The business's fifty day moving average price is $65.76 and its two-hundred day moving average price is $69.34. 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 issued its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.18. The business had revenue of $747.31 million during the quarter, compared to analysts' expectations of $711.05 million. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. Analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BMRN has been the subject of a number of research reports. Bank of America increased their target price on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Royal Bank of Canada reissued a "sector perform" rating and issued a $70.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Cantor Fitzgerald restated an "overweight" rating and issued a $90.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. StockNews.com raised shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a report on Monday. Finally, UBS Group boosted their price objective on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.00.

Insiders Place Their Bets

In other news, CAO Erin Burkhart sold 1,344 shares of the company's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $68.38, for a total value of $91,902.72. Following the completion of the sale, the chief accounting officer now owns 13,105 shares of the company's stock, valued at approximately $896,119.90. This represents a 9.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.