Proficio Capital Partners LLC bought a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 14,000 shares of the biotechnology company's stock, valued at approximately $920,000.
A number of other hedge funds have also recently bought and sold shares of BMRN. Erste Asset Management GmbH purchased a new stake in BioMarin Pharmaceutical during the third quarter valued at about $48,527,000. Assenagon Asset Management S.A. boosted its stake in BioMarin Pharmaceutical by 461.3% in the 4th 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 during the period. Vestal Point Capital LP purchased a new position in BioMarin Pharmaceutical during the 3rd quarter worth approximately $28,116,000. Clearline Capital LP purchased a new position in BioMarin Pharmaceutical during the 3rd quarter worth approximately $22,477,000. Finally, Bellevue Group AG raised its stake in BioMarin Pharmaceutical by 533.7% during the 3rd quarter. Bellevue Group AG now owns 330,976 shares of the biotechnology company's stock valued at $23,264,000 after purchasing an additional 278,744 shares during the period. 98.71% of the stock is owned by institutional investors and hedge funds.
Insider Activity at BioMarin Pharmaceutical
In other 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 in the company, valued at approximately $896,119.90. This represents a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.85% of the company's stock.
BioMarin Pharmaceutical Price Performance
Shares of BMRN traded up $0.06 during trading hours on Wednesday, hitting $70.55. The stock had a trading volume of 623,360 shares, compared to its average volume of 1,772,391. BioMarin Pharmaceutical Inc. has a 52 week low of $60.63 and a 52 week high of $94.85. The stock has a market capitalization of $13.46 billion, a price-to-earnings ratio of 32.00, a P/E/G ratio of 0.61 and a beta of 0.33. The company's fifty day moving average is $65.99 and its two-hundred day moving average is $69.08. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62.
BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share 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 company had revenue of $747.31 million during the quarter, compared to analyst estimates of $711.05 million. On average, analysts anticipate that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.
Analyst Ratings Changes
A number of research analysts have recently weighed in on BMRN shares. Wolfe Research began coverage on BioMarin Pharmaceutical in a report on Friday, November 15th. They set an "outperform" rating and a $95.00 price target on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $90.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Bank of America lifted their target price on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. UBS Group increased their price objective on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Finally, Scotiabank boosted their price target 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. Seven 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 stock. According to data from MarketBeat.com, BioMarin Pharmaceutical has a consensus rating of "Moderate Buy" and a consensus target price of $94.00.
View Our Latest Analysis on BMRN
About BioMarin Pharmaceutical
(
Free Report)
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.
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