International Assets Investment Management LLC Makes New Investment in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

International Assets Investment Management LLC purchased a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 37,315 shares of the biotechnology company’s stock, valued at approximately $3,598,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. SteelPeak Wealth LLC purchased a new position in BioMarin Pharmaceutical in the 4th quarter worth approximately $217,000. Arizona State Retirement System boosted its stake in shares of BioMarin Pharmaceutical by 1.0% during the 4th quarter. Arizona State Retirement System now owns 51,718 shares of the biotechnology company’s stock valued at $4,987,000 after buying an additional 510 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of BioMarin Pharmaceutical by 149.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 22,156 shares of the biotechnology company’s stock valued at $2,136,000 after buying an additional 13,270 shares during the last quarter. Private Ocean LLC purchased a new position in shares of BioMarin Pharmaceutical during the 4th quarter valued at approximately $140,000. Finally, JGP Global Gestao de Recursos Ltda. boosted its stake in shares of BioMarin Pharmaceutical by 15.4% during the 4th quarter. JGP Global Gestao de Recursos Ltda. now owns 3,132 shares of the biotechnology company’s stock valued at $302,000 after buying an additional 419 shares during the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Insider Activity at BioMarin Pharmaceutical

In related news, insider Henry J. Fuchs sold 35,341 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $85.18, for a total value of $3,010,346.38. Following the completion of the transaction, the insider now owns 212,117 shares in the company, valued at approximately $18,068,126.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Erin Burkhart sold 2,286 shares of the stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $90.00, for a total value of $205,740.00. Following the completion of the transaction, the chief accounting officer now owns 16,156 shares in the company, valued at approximately $1,454,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Henry J. Fuchs sold 35,341 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $85.18, for a total value of $3,010,346.38. Following the completion of the transaction, the insider now owns 212,117 shares of the company’s stock, valued at approximately $18,068,126.06. The disclosure for this sale can be found here. Insiders sold 103,229 shares of company stock valued at $9,062,967 over the last 90 days. 1.84% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $100.00 target price on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Stifel Nicolaus restated a “buy” rating and set a $101.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, December 21st. Canaccord Genuity Group restated a “hold” rating and set a $91.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 29th. Cantor Fitzgerald restated an “overweight” rating and set a $100.00 price objective on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Finally, Piper Sandler reduced their price objective on BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating on the stock in a research note on Friday, February 23rd. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $107.61.

BioMarin Pharmaceutical Price Performance

Shares of BMRN opened at $90.47 on Thursday. The stock’s fifty day moving average is $87.57 and its 200-day moving average is $89.11. BioMarin Pharmaceutical Inc. has a one year low of $76.02 and a one year high of $100.31. The firm has a market capitalization of $17.07 billion, a price-to-earnings ratio of 102.81, a price-to-earnings-growth ratio of 1.69 and a beta of 0.31. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.57 and a current ratio of 2.51.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.05. BioMarin Pharmaceutical had a return on equity of 5.01% and a net margin of 6.93%. The business had revenue of $646.21 million during the quarter, compared to analysts’ expectations of $639.53 million. During the same quarter last year, the business posted $0.11 earnings per share. The company’s quarterly revenue was up 20.2% on a year-over-year basis. Equities analysts anticipate that BioMarin Pharmaceutical Inc. will post 1.85 EPS for the current year.

BioMarin Pharmaceutical Company 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.