Wedmont Private Capital Makes New $430,000 Investment in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Wedmont Private Capital acquired a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,376 shares of the biotechnology company's stock, valued at approximately $430,000.

Other large investors also recently modified their holdings of the company. Primecap Management Co. CA grew its holdings in shares of BioMarin Pharmaceutical by 0.4% in the third quarter. Primecap Management Co. CA now owns 18,867,435 shares of the biotechnology company's stock valued at $1,326,192,000 after acquiring an additional 77,350 shares in the last quarter. Avoro Capital Advisors LLC increased its position in shares of BioMarin Pharmaceutical by 4.4% during the 2nd quarter. Avoro Capital Advisors LLC now owns 4,557,416 shares of the biotechnology company's stock valued at $375,212,000 after purchasing an additional 192,416 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of BioMarin Pharmaceutical by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,260,050 shares of the biotechnology company's stock worth $228,632,000 after purchasing an additional 60,692 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of BioMarin Pharmaceutical by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,401,628 shares of the biotechnology company's stock worth $98,520,000 after buying an additional 55,699 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in BioMarin Pharmaceutical by 38.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,034,457 shares of the biotechnology company's stock valued at $85,178,000 after buying an additional 289,953 shares during the period. Institutional investors own 98.71% of the company's stock.

BioMarin Pharmaceutical Price Performance

NASDAQ:BMRN traded down $0.33 during trading hours on Thursday, hitting $61.25. 2,912,320 shares of the company's stock traded hands, compared to its average volume of 1,579,842. The firm has a market cap of $11.67 billion, a P/E ratio of 36.68, a P/E/G ratio of 0.59 and a beta of 0.29. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11. The business's fifty day simple moving average is $65.71 and its two-hundred day simple moving average is $74.62. 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 posted its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The company had revenue of $746.00 million during the quarter, compared to the consensus estimate of $703.37 million. During the same quarter last year, the company posted $0.26 earnings per share. The firm's revenue for the quarter was up 28.4% on a year-over-year basis. On average, research analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.5 earnings per share for the current fiscal year.

Insider Transactions at BioMarin Pharmaceutical

In related news, EVP Charles Greg Guyer sold 5,278 shares of the company's stock in a transaction on Tuesday, November 12th. The shares were 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 in the company, valued at approximately $4,573,490.33. The trade was a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.85% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on BMRN shares. Robert W. Baird lowered their price objective on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 30th. Canaccord Genuity Group dropped their price objective on BioMarin Pharmaceutical from $93.00 to $84.00 and set a "hold" rating on the stock in a research note on Wednesday, October 30th. Wolfe Research initiated coverage on BioMarin Pharmaceutical in a research report on Friday, November 15th. They issued an "outperform" rating and a $95.00 target price for the company. JPMorgan Chase & Co. dropped their price target on BioMarin Pharmaceutical from $110.00 to $109.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 30th. Finally, Citigroup decreased their price objective on BioMarin Pharmaceutical from $93.00 to $81.00 and set a "neutral" rating for the company in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $94.20.

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.