BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Position Increased by Gabelli Funds LLC

Gabelli Funds LLC lifted its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 58.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,339 shares of the biotechnology company's stock after purchasing an additional 7,500 shares during the quarter. Gabelli Funds LLC's holdings in BioMarin Pharmaceutical were worth $1,337,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BMRN. SBI Securities Co. Ltd. acquired a new position in BioMarin Pharmaceutical during the 4th quarter worth about $36,000. CIBC Private Wealth Group LLC raised its stake in BioMarin Pharmaceutical by 64.2% during the 4th 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 in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of BioMarin Pharmaceutical by 111.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company's stock valued at $58,000 after purchasing an additional 466 shares during the last quarter. UMB Bank n.a. grew its position in BioMarin Pharmaceutical by 260.1% during the 4th quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company's stock worth $67,000 after purchasing an additional 736 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of BioMarin Pharmaceutical by 27.5% in the fourth quarter. Blue Trust Inc. now owns 1,095 shares of the biotechnology company's stock valued at $77,000 after purchasing an additional 236 shares during the period. Hedge funds and other institutional investors own 98.71% of the company's stock.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,295 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total transaction of $92,618.40. Following the transaction, the chief accounting officer now directly owns 16,955 shares in the company, valued at $1,212,621.60. This represents a 7.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.85% of the company's stock.

Analyst Upgrades and Downgrades

BMRN has been the subject of a number of recent analyst reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $90.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Royal Bank of Canada restated a "sector perform" rating and set a $70.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Citigroup lifted their target price on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Oppenheimer upgraded shares of BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 price target on the stock in a research report on Monday, February 24th. Finally, Scotiabank lifted their price objective on 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 equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to MarketBeat, BioMarin Pharmaceutical has a consensus rating of "Moderate Buy" and an average target price of $94.00.

BioMarin Pharmaceutical Trading Up 4.9 %

BMRN traded up $2.85 during trading on Tuesday, hitting $61.50. 5,176,019 shares of the company's stock were exchanged, compared to its average volume of 1,899,776. The stock has a 50 day moving average price of $66.54 and a 200 day moving average price of $66.13. 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 firm has a market cap of $11.73 billion, a P/E ratio of 27.95, a price-to-earnings-growth ratio of 0.61 and a beta of 0.30.

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. 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 the consensus estimate of $711.05 million. As a group, analysts expect 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.