Primecap Management Co. CA Has $1.20 Billion Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Primecap Management Co. CA decreased its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,189,171 shares of the biotechnology company's stock after selling 678,264 shares during the period. Primecap Management Co. CA owned 9.54% of BioMarin Pharmaceutical worth $1,195,574,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Janney Montgomery Scott LLC grew its stake in shares of BioMarin Pharmaceutical by 102.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 11,700 shares of the biotechnology company's stock valued at $822,000 after buying an additional 5,911 shares in the last quarter. Metis Global Partners LLC lifted its stake in BioMarin Pharmaceutical by 9.7% in the third quarter. Metis Global Partners LLC now owns 5,450 shares of the biotechnology company's stock valued at $383,000 after acquiring an additional 480 shares during the last quarter. CIBC Asset Management Inc grew its position in BioMarin Pharmaceutical by 5.6% in the third quarter. CIBC Asset Management Inc now owns 6,731 shares of the biotechnology company's stock worth $473,000 after acquiring an additional 359 shares in the last quarter. Swiss National Bank increased its stake in shares of BioMarin Pharmaceutical by 0.3% during the 3rd quarter. Swiss National Bank now owns 563,600 shares of the biotechnology company's stock worth $39,615,000 after purchasing an additional 1,700 shares during the last quarter. Finally, Quest Partners LLC bought a new position in shares of BioMarin Pharmaceutical during the 3rd quarter valued at $305,000. 98.71% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,344 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $68.38, for a total transaction of $91,902.72. Following the sale, the chief accounting officer now directly owns 13,105 shares of the company's stock, valued at approximately $896,119.90. This represents a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.85% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada reiterated a "sector perform" rating and issued a $70.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Scotiabank raised their price objective 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 boosted their target price on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Citigroup increased their price target on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $90.00 price objective 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, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $94.00.

BioMarin Pharmaceutical Price Performance

NASDAQ BMRN traded down $0.36 during trading on Friday, reaching $71.24. 3,096,683 shares of the company traded hands, compared to its average volume of 1,781,598. BioMarin Pharmaceutical Inc. has a 1-year low of $60.63 and a 1-year high of $94.85. The company has a market cap of $13.59 billion, a price-to-earnings ratio of 32.38, a P/E/G ratio of 0.61 and a beta of 0.33. The stock's 50 day moving average price is $66.50 and its two-hundred day moving average price is $68.42. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last announced its quarterly 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 business had revenue of $747.31 million for the quarter, compared to analyst estimates of $711.05 million. As a group, analysts anticipate that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

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.