Tower Research Capital LLC TRC Purchases 13,426 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Tower Research Capital LLC TRC increased its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 376.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,992 shares of the biotechnology company's stock after purchasing an additional 13,426 shares during the period. Tower Research Capital LLC TRC's holdings in BioMarin Pharmaceutical were worth $1,117,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in shares of BioMarin Pharmaceutical in the fourth quarter valued at about $36,000. CIBC Private Wealth Group LLC raised its stake in shares of BioMarin Pharmaceutical by 64.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company's stock valued at $41,000 after purchasing an additional 233 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of BioMarin Pharmaceutical by 111.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company's stock worth $58,000 after purchasing an additional 466 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of BioMarin Pharmaceutical by 260.1% in the fourth quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company's stock valued at $67,000 after purchasing an additional 736 shares during the period. Finally, Blue Trust Inc. grew its holdings in BioMarin Pharmaceutical by 27.5% during the 4th quarter. Blue Trust Inc. now owns 1,095 shares of the biotechnology company's stock valued at $77,000 after purchasing an additional 236 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,344 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $68.38, for a total value of $91,902.72. Following the transaction, the chief accounting officer now owns 13,105 shares of the company's stock, valued at approximately $896,119.90. The trade was a 9.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.85% of the stock is owned by corporate insiders.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ BMRN traded up $0.35 during trading hours on Tuesday, hitting $63.33. 742,019 shares of the company's stock were exchanged, compared to its average volume of 1,861,582. The company's 50-day moving average price is $66.35 and its 200-day moving average price is $65.91. BioMarin Pharmaceutical Inc. has a 1-year low of $52.93 and a 1-year high of $94.85. The stock has a market capitalization of $12.08 billion, a price-to-earnings ratio of 28.79, a PEG ratio of 0.61 and a beta of 0.30. 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 announced its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.18. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. The company had revenue of $747.31 million during the quarter, compared to the consensus estimate of $711.05 million. On average, sell-side analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Piper Sandler upped their price objective on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Oppenheimer upgraded BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 price objective for the company in a research note on Monday, February 24th. StockNews.com upgraded BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research note on Friday. Wedbush restated an "outperform" rating and issued a $94.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Finally, UBS Group increased their price objective on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $93.14.

BioMarin Pharmaceutical 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.