Capital Research Global Investors Acquires 2,496,817 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Capital Research Global Investors increased its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 23.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,991,772 shares of the biotechnology company's stock after buying an additional 2,496,817 shares during the period. Capital Research Global Investors owned 6.82% of BioMarin Pharmaceutical worth $853,944,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in BMRN. Oregon Public Employees Retirement Fund raised its stake in BioMarin Pharmaceutical by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 38,738 shares of the biotechnology company's stock valued at $2,546,000 after buying an additional 164 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of BioMarin Pharmaceutical by 13.9% in the 4th quarter. Fifth Third Bancorp now owns 1,351 shares of the biotechnology company's stock worth $89,000 after buying an additional 165 shares during the last quarter. Freedom Investment Management Inc. boosted its stake in BioMarin Pharmaceutical by 3.8% in the fourth quarter. Freedom Investment Management Inc. now owns 5,022 shares of the biotechnology company's stock valued at $330,000 after acquiring an additional 184 shares during the period. First Hawaiian Bank boosted its position in BioMarin Pharmaceutical by 1.4% during the 4th quarter. First Hawaiian Bank now owns 14,700 shares of the biotechnology company's stock valued at $966,000 after purchasing an additional 200 shares during the period. Finally, CIBC Private Wealth Group LLC grew its position in shares of BioMarin Pharmaceutical by 64.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company's stock worth $41,000 after acquiring an additional 233 shares during the last quarter. Institutional investors own 98.71% of the company's stock.

BioMarin Pharmaceutical Stock Up 0.5 %

BMRN traded up $0.34 during trading on Friday, reaching $63.08. 231,878 shares of the stock traded hands, compared to its average volume of 1,890,500. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. BioMarin Pharmaceutical Inc. has a fifty-two week low of $52.93 and a fifty-two week high of $94.85. The stock's 50-day simple moving average is $66.44 and its two-hundred day simple moving average is $66.06. The stock has a market cap of $12.04 billion, a price-to-earnings ratio of 28.69, a price-to-earnings-growth ratio of 0.61 and a beta of 0.30.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.18. The firm had revenue of $747.31 million for the quarter, compared to the consensus estimate of $711.05 million. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. As a group, equities research analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada restated a "sector perform" rating and set a $70.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Scotiabank upped their price target on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 20th. Piper Sandler raised their price objective on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Wedbush reaffirmed an "outperform" rating and set a $94.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Finally, Bank of America boosted their price objective on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $94.00.

Insider Transactions at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,295 shares of BioMarin Pharmaceutical stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total value of $92,618.40. Following the transaction, the chief accounting officer now owns 16,955 shares in the company, valued at $1,212,621.60. This trade represents a 7.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.85% of the stock is currently owned by corporate insiders.

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.