MQS Management LLC purchased a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Get Rating) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,052 shares of the biotechnology company's stock, valued at approximately $390,000.
A number of other institutional investors also recently modified their holdings of BMRN. Allspring Global Investments Holdings LLC bought a new stake in shares of BioMarin Pharmaceutical in the fourth quarter valued at about $1,811,000. Yousif Capital Management LLC bought a new stake in shares of BioMarin Pharmaceutical in the fourth quarter valued at about $228,000. Dupont Capital Management Corp bought a new stake in shares of BioMarin Pharmaceutical in the fourth quarter valued at about $113,000. IndexIQ Advisors LLC lifted its holdings in shares of BioMarin Pharmaceutical by 26.9% in the fourth quarter. IndexIQ Advisors LLC now owns 4,000 shares of the biotechnology company's stock valued at $353,000 after purchasing an additional 849 shares in the last quarter. Finally, Toronto Dominion Bank lifted its holdings in shares of BioMarin Pharmaceutical by 40.1% in the fourth quarter. Toronto Dominion Bank now owns 36,158 shares of the biotechnology company's stock valued at $3,195,000 after purchasing an additional 10,344 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors.
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Analyst Upgrades and Downgrades
Several analysts recently issued reports on BMRN shares. Jefferies Financial Group reiterated a "buy" rating and set a $100.00 target price on shares of BioMarin Pharmaceutical in a report on Wednesday, May 4th. Cantor Fitzgerald started coverage on BioMarin Pharmaceutical in a report on Tuesday, July 12th. They set an "overweight" rating and a $110.00 target price on the stock. Barclays upped their target price on BioMarin Pharmaceutical from $112.00 to $125.00 and gave the stock an "overweight" rating in a report on Thursday, August 4th. Wedbush reiterated a "hold" rating and set a $70.00 target price on shares of BioMarin Pharmaceutical in a report on Friday, June 24th. Finally, Credit Suisse Group upped their target price on BioMarin Pharmaceutical to $111.00 in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, BioMarin Pharmaceutical has a consensus rating of "Moderate Buy" and an average price target of $110.93.
Insider Activity
In other news, EVP Charles Greg Guyer sold 6,205 shares of the company's stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $96.56, for a total value of $599,154.80. Following the transaction, the executive vice president now owns 42,168 shares of the company's stock, valued at $4,071,742.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Jeffrey Robert Ajer sold 1,308 shares of the stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $78.94, for a total transaction of $103,253.52. Following the sale, the executive vice president now owns 54,109 shares of the company's stock, valued at $4,271,364.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Charles Greg Guyer sold 6,205 shares of the stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $96.56, for a total value of $599,154.80. Following the sale, the executive vice president now directly owns 42,168 shares in the company, valued at approximately $4,071,742.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,248 shares of company stock valued at $2,024,890. 1.75% of the stock is owned by insiders.
BioMarin Pharmaceutical Price Performance
Shares of NASDAQ BMRN opened at $95.07 on Friday. BioMarin Pharmaceutical Inc. has a twelve month low of $70.73 and a twelve month high of $97.76. The business's 50 day moving average price is $83.95 and its two-hundred day moving average price is $82.44. The company has a quick ratio of 3.69, a current ratio of 5.42 and a debt-to-equity ratio of 0.24. The company has a market cap of $17.63 billion, a PE ratio of 365.67, a price-to-earnings-growth ratio of 2.08 and a beta of 0.33.
BioMarin Pharmaceutical (NASDAQ:BMRN – Get Rating) last posted its earnings results on Wednesday, August 3rd. The biotechnology company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. BioMarin Pharmaceutical had a return on equity of 1.78% and a net margin of 2.83%. During the same period in the prior year, the business earned $0.23 EPS. On average, analysts predict that BioMarin Pharmaceutical Inc. will post 0.92 EPS for the current year.
About BioMarin Pharmaceutical
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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.
Further Reading
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