Carbahal Olsen Financial Services Group LLC Takes Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Carbahal Olsen Financial Services Group LLC purchased a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,975 shares of the biotechnology company's stock, valued at approximately $327,000. BioMarin Pharmaceutical makes up about 0.3% of Carbahal Olsen Financial Services Group LLC's investment portfolio, making the stock its 22nd biggest position.

A number of other hedge funds have also modified their holdings of BMRN. Oregon Public Employees Retirement Fund raised its position in shares of 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 during the last quarter. Fifth Third Bancorp increased its holdings in BioMarin Pharmaceutical by 13.9% in the 4th quarter. Fifth Third Bancorp now owns 1,351 shares of the biotechnology company's stock valued at $89,000 after acquiring an additional 165 shares during the last quarter. Freedom Investment Management Inc. lifted its stake in BioMarin Pharmaceutical by 3.8% in the 4th quarter. Freedom Investment Management Inc. now owns 5,022 shares of the biotechnology company's stock worth $330,000 after purchasing an additional 184 shares in the last quarter. First Hawaiian Bank boosted its holdings in shares of 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 last quarter. 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 valued at $41,000 after purchasing an additional 233 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on BMRN shares. Citigroup lifted their price objective on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Wedbush restated an "outperform" rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. 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. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $90.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Finally, Scotiabank boosted their target price on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a "sector perform" rating in a research report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of "Moderate Buy" and an average price target of $94.00.

Insider Activity

In other news, CAO Erin Burkhart sold 1,295 shares of the firm's stock in a transaction 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 in the company, valued at $1,212,621.60. This trade represents a 7.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.85% of the company's stock.

BioMarin Pharmaceutical Trading Up 1.1 %

BMRN traded up $0.69 on Thursday, hitting $62.63. The company had a trading volume of 459,567 shares, compared to its average volume of 1,894,106. The firm has a market cap of $11.95 billion, a P/E ratio of 28.47, a PEG 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. BioMarin Pharmaceutical Inc. has a 1 year low of $52.93 and a 1 year high of $94.85. The company's fifty day moving average price is $66.48 and its 200 day moving average price is $66.10.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 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 company had revenue of $747.31 million during the quarter, compared to analysts' expectations of $711.05 million. As a group, equities analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share 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.