BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Position Increased by First Trust Advisors LP

First Trust Advisors LP raised its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 34.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 629,985 shares of the biotechnology company's stock after acquiring an additional 162,687 shares during the period. First Trust Advisors LP owned approximately 0.33% of BioMarin Pharmaceutical worth $41,409,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BMRN. Forum Financial Management LP purchased a new position in BioMarin Pharmaceutical in the fourth quarter valued at approximately $298,000. Freedom Investment Management Inc. raised its stake in shares of BioMarin Pharmaceutical by 3.8% in the 4th 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. Canada Pension Plan Investment Board raised its stake in shares of BioMarin Pharmaceutical by 20.1% in the 4th quarter. Canada Pension Plan Investment Board now owns 474,500 shares of the biotechnology company's stock valued at $31,189,000 after acquiring an additional 79,400 shares during the period. Zacks Investment Management lifted its holdings in shares of BioMarin Pharmaceutical by 13.5% during the 4th quarter. Zacks Investment Management now owns 20,199 shares of the biotechnology company's stock valued at $1,328,000 after acquiring an additional 2,397 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in BioMarin Pharmaceutical during the 4th quarter worth $44,735,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Erin Burkhart sold 1,344 shares of BioMarin Pharmaceutical stock in a transaction on Monday, February 24th. The stock was sold at an average price of $68.38, for a total transaction of $91,902.72. Following the transaction, the chief accounting officer now directly owns 13,105 shares in the company, valued at approximately $896,119.90. This trade represents a 9.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.85% of the stock is owned by corporate insiders.

Analyst Ratings Changes

BMRN has been the topic of a number of recent research reports. Piper Sandler boosted their price objective on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Cantor Fitzgerald reissued an "overweight" rating and set a $90.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Scotiabank increased their price objective on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a "sector perform" rating in a research report on Thursday, February 20th. StockNews.com raised shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research report on Friday. Finally, Bank of America raised their price target on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, BioMarin Pharmaceutical currently has a consensus rating of "Moderate Buy" and an average target price of $94.00.

BioMarin Pharmaceutical Stock Performance

BMRN stock traded up $0.56 on Friday, reaching $63.30. The company's stock had a trading volume of 750,685 shares, compared to its average volume of 1,866,959. BioMarin Pharmaceutical Inc. has a 52 week low of $52.93 and a 52 week high of $94.85. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. The company has a market capitalization of $12.08 billion, a P/E ratio of 28.77, a price-to-earnings-growth ratio of 0.61 and a beta of 0.30. The firm has a fifty day moving average of $66.40 and a two-hundred day moving average of $65.99.

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