Plato Investment Management Ltd Grows Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Plato Investment Management Ltd lifted its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 85.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,402 shares of the biotechnology company's stock after acquiring an additional 4,334 shares during the quarter. Plato Investment Management Ltd's holdings in BioMarin Pharmaceutical were worth $620,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Erste Asset Management GmbH bought a new stake in BioMarin Pharmaceutical during the third quarter valued at about $48,527,000. 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 purchasing an additional 502,695 shares in the last quarter. Vestal Point Capital LP purchased a new stake in shares of BioMarin Pharmaceutical during the third quarter worth about $28,116,000. Clearline Capital LP bought a new stake in BioMarin Pharmaceutical during the 3rd quarter valued at approximately $22,477,000. Finally, Bellevue Group AG lifted its holdings in BioMarin Pharmaceutical by 533.7% in the 3rd quarter. Bellevue Group AG now owns 330,976 shares of the biotechnology company's stock worth $23,264,000 after purchasing an additional 278,744 shares in the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Up 1.4 %

Shares of BioMarin Pharmaceutical stock traded up $1.02 during trading on Friday, hitting $72.23. 1,681,814 shares of the stock traded hands, compared to its average volume of 1,776,546. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The stock's fifty day simple moving average is $65.76 and its 200 day simple moving average is $69.67. The firm has a market cap of $13.78 billion, a P/E ratio of 32.83, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a 52-week low of $60.63 and a 52-week high of $94.85.

Remove Ads

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 analysts' consensus estimates of $0.54 by $0.18. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. The business had revenue of $747.31 million for the quarter, compared to the consensus estimate of $711.05 million. On average, equities analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Piper Sandler increased their price objective on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Scotiabank upped their price target on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a "sector perform" rating in a research note on Thursday, February 20th. Wedbush reiterated an "outperform" rating and issued a $94.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Wolfe Research started coverage on BioMarin Pharmaceutical in a research note on Friday, November 15th. They set an "outperform" rating and a $95.00 price objective on the stock. Finally, UBS Group raised their price objective on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $94.00.

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,344 shares of the 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 sale, the chief accounting officer now owns 13,105 shares of the company's stock, valued at approximately $896,119.90. This trade represents a 9.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.85% of the stock is currently owned by corporate insiders.

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.