BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Stock Holdings Raised by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 7,368.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 60,571 shares of the biotechnology company’s stock after acquiring an additional 59,760 shares during the period. Allspring Global Investments Holdings LLC’s holdings in BioMarin Pharmaceutical were worth $5,840,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. KB Financial Partners LLC increased its position in shares of BioMarin Pharmaceutical by 51.3% in the 3rd quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 118 shares during the last quarter. ICA Group Wealth Management LLC bought a new stake in shares of BioMarin Pharmaceutical in the 4th quarter worth about $31,000. Acadian Asset Management LLC increased its position in shares of BioMarin Pharmaceutical by 395.4% in the 1st quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 344 shares during the last quarter. Castleview Partners LLC bought a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter worth about $35,000. Finally, MayTech Global Investments LLC bought a new stake in shares of BioMarin Pharmaceutical in the 4th quarter worth about $36,000. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Trading Down 0.4 %

Shares of NASDAQ:BMRN opened at $90.07 on Friday. The company has a 50 day moving average of $87.61 and a 200-day moving average of $89.11. The firm has a market cap of $17.00 billion, a P/E ratio of 102.35, a P/E/G ratio of 1.68 and a beta of 0.31. BioMarin Pharmaceutical Inc. has a twelve month low of $76.02 and a twelve month high of $99.56. The company has a current ratio of 2.51, a quick ratio of 1.57 and a debt-to-equity ratio of 0.12.

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

Insider Transactions at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 2,286 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $90.00, for a total value of $205,740.00. Following the completion of the sale, the chief accounting officer now directly owns 16,156 shares of the company’s stock, valued at approximately $1,454,040. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CAO Erin Burkhart sold 2,286 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $90.00, for a total value of $205,740.00. Following the completion of the sale, the chief accounting officer now directly owns 16,156 shares of the company’s stock, valued at approximately $1,454,040. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Henry J. Fuchs sold 35,341 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $85.18, for a total transaction of $3,010,346.38. Following the completion of the sale, the insider now directly owns 212,117 shares of the company’s stock, valued at $18,068,126.06. The disclosure for this sale can be found here. In the last three months, insiders sold 103,229 shares of company stock valued at $9,062,967. Company insiders own 1.84% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on BMRN. Stifel Nicolaus reissued a “buy” rating and issued a $101.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, December 21st. Robert W. Baird decreased their price target on shares of BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating for the company in a report on Tuesday, January 30th. Piper Sandler decreased their price target on shares of BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating for the company in a report on Friday, February 23rd. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $91.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $100.00 price target on shares of BioMarin Pharmaceutical in a report on Friday, February 23rd. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $107.61.

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.