Profund Advisors LLC lifted its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 11.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 57,866 shares of the biotechnology company’s stock after acquiring an additional 6,023 shares during the period. Profund Advisors LLC’s holdings in BioMarin Pharmaceutical were worth $4,893,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. UBS Asset Management Americas Inc. raised its position in shares of BioMarin Pharmaceutical by 16.6% in the 4th quarter. UBS Asset Management Americas Inc. now owns 1,347,160 shares of the biotechnology company’s stock worth $113,902,000 after acquiring an additional 191,514 shares in the last quarter. USS Investment Management Ltd raised its position in shares of BioMarin Pharmaceutical by 60.3% in the 4th quarter. USS Investment Management Ltd now owns 1,178,462 shares of the biotechnology company’s stock worth $99,633,000 after acquiring an additional 443,462 shares in the last quarter. Manning & Napier Group LLC raised its position in shares of BioMarin Pharmaceutical by 50.7% in the 4th quarter. Manning & Napier Group LLC now owns 1,100,191 shares of the biotechnology company’s stock worth $93,020,000 after acquiring an additional 370,098 shares in the last quarter. First Trust Advisors LP raised its position in shares of BioMarin Pharmaceutical by 1.0% in the 4th quarter. First Trust Advisors LP now owns 866,091 shares of the biotechnology company’s stock worth $73,228,000 after acquiring an additional 8,866 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its position in shares of BioMarin Pharmaceutical by 29.2% in the 4th quarter. Pictet Asset Management Ltd. now owns 759,861 shares of the biotechnology company’s stock worth $64,246,000 after acquiring an additional 171,567 shares in the last quarter. 95.70% of the stock is owned by hedge funds and other institutional investors.
BMRN has been the subject of several research reports. Morgan Stanley increased their target price on BioMarin Pharmaceutical from $120.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 3rd. BMO Capital Markets initiated coverage on BioMarin Pharmaceutical in a research report on Monday, January 27th. They set a “market perform” rating and a $94.00 price objective for the company. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Sunday, February 23rd. BidaskClub raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $129.00 price objective on shares of BioMarin Pharmaceutical in a research report on Monday, December 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $112.32.
Shares of BMRN stock traded up $2.17 on Thursday, reaching $82.64. The stock had a trading volume of 1,458,400 shares, compared to its average volume of 1,572,492. The stock has a market cap of $14.48 billion, a P/E ratio of -550.93 and a beta of 1.11. BioMarin Pharmaceutical Inc. has a 1 year low of $62.88 and a 1 year high of $97.10. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.35 and a current ratio of 2.08. The company has a 50 day simple moving average of $86.90 and a 200 day simple moving average of $79.99.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.07. The firm had revenue of $454.44 million for the quarter, compared to the consensus estimate of $461.88 million. BioMarin Pharmaceutical had a positive return on equity of 0.81% and a negative net margin of 1.40%. On average, equities research analysts anticipate that BioMarin Pharmaceutical Inc. will post 0.68 earnings per share for the current fiscal year.
In related news, Director V Bryan Lawlis sold 3,750 shares of BioMarin Pharmaceutical stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $75.39, for a total transaction of $282,712.50. Following the transaction, the director now directly owns 18,980 shares in the company, valued at $1,430,902.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jean Jacques Bienaime sold 3,000 shares of BioMarin Pharmaceutical stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $84.46, for a total value of $253,380.00. Following the transaction, the chief executive officer now owns 330,530 shares in the company, valued at $27,916,563.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,750 shares of company stock worth $2,565,693. Company insiders own 1.90% of the company’s stock.
About BioMarin Pharmaceutical
BioMarin Pharmaceutical Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; 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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