Icon Advisers Inc. Co. Acquires New Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Icon Advisers Inc. Co. acquired a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 13,000 shares of the biotechnology company's stock, valued at approximately $854,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in BioMarin Pharmaceutical during the 4th quarter worth approximately $234,645,000. Assenagon Asset Management S.A. grew its position in shares of BioMarin Pharmaceutical by 461.3% during 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. Candriam S.C.A. raised its holdings in shares of BioMarin Pharmaceutical by 77.2% in the fourth quarter. Candriam S.C.A. now owns 580,222 shares of the biotechnology company's stock valued at $38,138,000 after buying an additional 252,820 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of BioMarin Pharmaceutical by 206.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,496 shares of the biotechnology company's stock worth $23,432,000 after buying an additional 240,239 shares during the period. Finally, Tredje AP fonden grew its holdings in shares of BioMarin Pharmaceutical by 662.6% during the fourth quarter. Tredje AP fonden now owns 223,664 shares of the biotechnology company's stock worth $14,701,000 after buying an additional 194,334 shares during the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BMRN shares. Scotiabank increased 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. Wedbush reiterated an "outperform" rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Oppenheimer raised shares of BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 price objective on the stock in a research note on Monday, February 24th. Cantor Fitzgerald restated an "overweight" rating and issued a $90.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Finally, Bank of America lifted their price target on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $94.00.

BioMarin Pharmaceutical Stock Up 0.6 %

Shares of NASDAQ:BMRN traded up $0.35 during midday trading on Friday, reaching $59.17. The company had a trading volume of 1,247,162 shares, compared to its average volume of 1,885,792. BioMarin Pharmaceutical Inc. has a one year low of $52.93 and a one year 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 stock has a market capitalization of $11.29 billion, a P/E ratio of 26.90, a PEG ratio of 0.61 and a beta of 0.30. The stock's fifty day moving average price is $66.74 and its 200-day moving average price is $66.27.

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

Insiders Place Their Bets

In related news, CAO Erin Burkhart sold 1,295 shares of the business's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total transaction of $92,618.40. Following the completion of the sale, the chief accounting officer now owns 16,955 shares of the company's stock, valued at $1,212,621.60. This represents a 7.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.85% of the stock is currently owned by corporate 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.