Connor Clark & Lunn Investment Management Ltd. Acquires 240,239 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 206.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 356,496 shares of the biotechnology company's stock after purchasing an additional 240,239 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.19% of BioMarin Pharmaceutical worth $23,432,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Merit Financial Group LLC purchased a new stake in BioMarin Pharmaceutical in the 4th quarter worth approximately $317,000. Assenagon Asset Management S.A. increased its stake in shares of BioMarin Pharmaceutical by 461.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company's stock worth $40,205,000 after acquiring an additional 502,695 shares during the last quarter. Wedmont Private Capital purchased a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth $430,000. Swedbank AB boosted its position in BioMarin Pharmaceutical by 11.2% during the fourth quarter. Swedbank AB now owns 432,122 shares of the biotechnology company's stock valued at $28,403,000 after purchasing an additional 43,593 shares during the last quarter. Finally, EULAV Asset Management grew its stake in BioMarin Pharmaceutical by 12.9% in the third quarter. EULAV Asset Management now owns 131,000 shares of the biotechnology company's stock valued at $9,208,000 after purchasing an additional 15,000 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company's stock.

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Insider Activity at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,344 shares of BioMarin Pharmaceutical stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $68.38, for a total value of $91,902.72. Following the sale, the chief accounting officer now owns 13,105 shares of the company's stock, valued at approximately $896,119.90. The trade was a 9.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.85% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Cantor Fitzgerald reissued an "overweight" rating and set a $90.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Citigroup upped their target price on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. StockNews.com upgraded shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research note on Monday, March 10th. 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, Scotiabank boosted their target price on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $94.00.

BioMarin Pharmaceutical Trading Up 3.0 %

Shares of BMRN stock traded up $2.11 on Monday, hitting $71.55. The stock had a trading volume of 918,993 shares, compared to its average volume of 1,773,982. 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 twelve month low of $60.63 and a twelve month high of $94.85. The company has a fifty day moving average price of $66.22 and a two-hundred day moving average price of $68.65. The firm has a market cap of $13.65 billion, a P/E ratio of 32.52, a PEG ratio of 0.61 and a beta of 0.33.

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 (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.18. The business had revenue of $747.31 million during the quarter, compared to analyst estimates of $711.05 million. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. As a group, analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal 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.