Korea Investment CORP Acquires 131,600 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Korea Investment CORP raised its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 362.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 167,903 shares of the biotechnology company's stock after buying an additional 131,600 shares during the period. Korea Investment CORP owned about 0.09% of BioMarin Pharmaceutical worth $11,036,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Prudential Financial Inc. grew its position in shares of BioMarin Pharmaceutical by 131.7% during the 4th quarter. Prudential Financial Inc. now owns 144,082 shares of the biotechnology company's stock worth $9,426,000 after buying an additional 81,887 shares during the period. Vanguard Group Inc. boosted its stake in BioMarin Pharmaceutical by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 19,372,185 shares of the biotechnology company's stock valued at $1,273,334,000 after acquiring an additional 93,531 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in BioMarin Pharmaceutical during the 4th quarter worth $4,387,000. Sector Gamma AS raised its position in shares of BioMarin Pharmaceutical by 14.2% during the 4th quarter. Sector Gamma AS now owns 217,348 shares of the biotechnology company's stock valued at $14,286,000 after acquiring an additional 27,000 shares during the last quarter. Finally, Blueshift Asset Management LLC bought a new stake in shares of BioMarin Pharmaceutical during the 4th quarter valued at $349,000. 98.71% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In other news, CAO Erin Burkhart sold 1,344 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $68.38, for a total transaction of $91,902.72. Following the completion of the transaction, the chief accounting officer now directly owns 13,105 shares in the company, valued at $896,119.90. This trade represents a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.85% of the company's stock.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN stock traded down $7.22 on Friday, reaching $60.26. The stock had a trading volume of 3,545,266 shares, compared to its average volume of 1,857,849. The firm's 50-day moving average is $67.95 and its two-hundred day moving average is $67.24. The firm has a market capitalization of $11.50 billion, a price-to-earnings ratio of 27.39, a P/E/G ratio of 0.61 and a beta of 0.30. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 12 month low of $60.02 and a 12 month high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $711.05 million. On average, research analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Wedbush reaffirmed an "outperform" rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. StockNews.com lowered BioMarin Pharmaceutical from a "strong-buy" rating to a "buy" rating in a research report on Tuesday. Scotiabank upped their price target on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a "sector perform" rating in a research note on Thursday, February 20th. Piper Sandler lifted their price objective on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $90.00 target price on shares of BioMarin Pharmaceutical in a research note 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. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $94.00.

BioMarin Pharmaceutical Company 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.