Tidal Investments LLC Raises Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Tidal Investments LLC raised its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 150.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,467 shares of the biotechnology company's stock after purchasing an additional 18,300 shares during the period. Tidal Investments LLC's holdings in BioMarin Pharmaceutical were worth $2,142,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of BMRN. Erste Asset Management GmbH acquired a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter worth $48,527,000. Principal Financial Group Inc. grew its stake in BioMarin Pharmaceutical by 1,858.6% during the second quarter. Principal Financial Group Inc. now owns 649,460 shares of the biotechnology company's stock worth $53,470,000 after buying an additional 616,301 shares in the last quarter. Vestal Point Capital LP bought a new position in BioMarin Pharmaceutical in the 3rd quarter valued at about $28,116,000. Clearline Capital LP acquired a new position in shares of BioMarin Pharmaceutical in the 3rd quarter valued at approximately $22,477,000. Finally, Rhumbline Advisers lifted its holdings in shares of BioMarin Pharmaceutical by 122.1% during the 2nd quarter. Rhumbline Advisers now owns 551,553 shares of the biotechnology company's stock worth $45,409,000 after acquiring an additional 303,207 shares during the period. Institutional investors own 98.71% of the company's stock.

BioMarin Pharmaceutical Stock Up 2.5 %

BioMarin Pharmaceutical stock traded up $1.65 during mid-day trading on Tuesday, reaching $67.19. The stock had a trading volume of 1,707,448 shares, compared to its average volume of 1,803,748. The firm has a market capitalization of $12.81 billion, a PE ratio of 39.25, a price-to-earnings-growth ratio of 0.65 and a beta of 0.29. BioMarin Pharmaceutical Inc. has a fifty-two week low of $61.15 and a fifty-two week high of $99.25. The stock's 50-day simple moving average is $66.91 and its 200-day simple moving average is $77.10. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.23). The business had revenue of $746.00 million during the quarter, compared to the consensus estimate of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The firm's quarterly revenue was up 28.4% on a year-over-year basis. During the same period last year, the business posted $0.26 earnings per share. On average, sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 2.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on BMRN shares. Wolfe Research began coverage on BioMarin Pharmaceutical in a research report on Friday, November 15th. They set an "outperform" rating and a $95.00 price objective for the company. Cantor Fitzgerald reissued an "overweight" rating and issued a $90.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, December 12th. William Blair lowered shares of BioMarin Pharmaceutical from an "outperform" rating to a "market perform" rating in a report on Wednesday, October 30th. Robert W. Baird dropped their price objective on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a "neutral" rating for the company in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. decreased their target price on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued 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 an average target price of $94.20.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 5,278 shares of the company's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total value of $350,300.86. Following the completion of the transaction, the executive vice president now directly owns 68,909 shares of the company's stock, valued at $4,573,490.33. This represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.85% of the company's stock.

About BioMarin Pharmaceutical

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.