BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Position Boosted by HighTower Advisors LLC

HighTower Advisors LLC boosted its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 34.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,468 shares of the biotechnology company's stock after purchasing an additional 10,730 shares during the quarter. HighTower Advisors LLC's holdings in BioMarin Pharmaceutical were worth $2,726,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in BMRN. CIBC Asset Management Inc grew its position in shares of BioMarin Pharmaceutical by 5.6% during the 3rd quarter. CIBC Asset Management Inc now owns 6,731 shares of the biotechnology company's stock valued at $473,000 after buying an additional 359 shares during the last quarter. Quest Partners LLC bought a new position in shares of BioMarin Pharmaceutical during the third quarter valued at approximately $305,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter worth approximately $344,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter worth approximately $8,172,000. Finally, Advisors Asset Management Inc. boosted its position in BioMarin Pharmaceutical by 1.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 11,451 shares of the biotechnology company's stock valued at $805,000 after purchasing an additional 180 shares during the period. Institutional investors own 98.71% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on BMRN shares. Citigroup increased 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. Wedbush reaffirmed an "outperform" rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Piper Sandler boosted their target price 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. 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 research note on Thursday, February 20th. Finally, Scotiabank boosted 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 research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of "Moderate Buy" and an average target price of $94.00.

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BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN traded up $0.75 during mid-day trading on Monday, reaching $71.99. The company had a trading volume of 1,466,203 shares, compared to its average volume of 1,787,053. The company has a 50-day moving average price of $66.68 and a two-hundred day moving average price of $67.87. The stock has a market cap of $13.73 billion, a PE ratio of 32.72, a P/E/G ratio of 0.61 and a beta of 0.33. 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 $60.63 and a 1-year high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, topping 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 firm had revenue of $747.31 million for the quarter, compared to analysts' expectations of $711.05 million. On average, equities analysts anticipate that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Insider Transactions at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,295 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 16,955 shares of the company's stock, valued at approximately $1,212,621.60. This trade represents a 7.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.85% of the stock is currently owned by 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.