Proficio Capital Partners LLC Makes New $920,000 Investment in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Proficio Capital Partners LLC acquired a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 14,000 shares of the biotechnology company's stock, valued at approximately $920,000.

Other hedge funds also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund lifted its position in shares of BioMarin Pharmaceutical by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 38,738 shares of the biotechnology company's stock worth $2,546,000 after purchasing an additional 164 shares during the last quarter. Fifth Third Bancorp lifted its holdings in BioMarin Pharmaceutical by 13.9% during the 4th quarter. Fifth Third Bancorp now owns 1,351 shares of the biotechnology company's stock worth $89,000 after buying an additional 165 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of BioMarin Pharmaceutical by 1.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 11,451 shares of the biotechnology company's stock worth $805,000 after acquiring an additional 180 shares in the last quarter. TD Private Client Wealth LLC raised its position in shares of BioMarin Pharmaceutical by 57.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company's stock valued at $36,000 after acquiring an additional 186 shares in the last quarter. Finally, First Hawaiian Bank lifted its stake in BioMarin Pharmaceutical by 1.4% during the fourth quarter. First Hawaiian Bank now owns 14,700 shares of the biotechnology company's stock worth $966,000 after purchasing an additional 200 shares during the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

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BioMarin Pharmaceutical Price Performance

Shares of BMRN traded up $0.75 during midday trading on Monday, reaching $71.99. The stock had a trading volume of 1,466,203 shares, compared to its average volume of 1,787,053. 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 company has a market capitalization of $13.73 billion, a P/E ratio of 32.72, a P/E/G ratio of 0.61 and a beta of 0.33. The firm's 50 day moving average price is $66.68 and its 200-day moving average price is $67.87. BioMarin Pharmaceutical Inc. has a 52 week low of $60.63 and a 52 week 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 EPS for the quarter, topping the consensus estimate of $0.54 by $0.18. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. The firm had revenue of $747.31 million for the quarter, compared to analysts' expectations of $711.05 million. On average, analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

BMRN has been the subject of several research reports. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $90.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. UBS Group lifted their target price on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Bank of America increased their price target on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Wedbush restated an "outperform" rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Finally, 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. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $94.00.

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,295 shares of the company's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total value of $92,618.40. Following the transaction, the chief accounting officer now owns 16,955 shares of the company's stock, valued at approximately $1,212,621.60. This represents a 7.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.85% of the company's stock.

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.