Jones Financial Companies Lllp Acquires New Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Jones Financial Companies Lllp bought a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRNFree Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 450 shares of the biotechnology company’s stock, valued at approximately $43,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its position in BioMarin Pharmaceutical by 7,368.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 60,571 shares of the biotechnology company’s stock valued at $5,840,000 after buying an additional 59,760 shares during the period. International Assets Investment Management LLC bought a new stake in shares of BioMarin Pharmaceutical during the 4th quarter valued at $3,598,000. FMR LLC increased its stake in shares of BioMarin Pharmaceutical by 30.4% in the 3rd quarter. FMR LLC now owns 713,797 shares of the biotechnology company’s stock worth $63,157,000 after purchasing an additional 166,219 shares in the last quarter. Nordea Investment Management AB raised its holdings in BioMarin Pharmaceutical by 4.9% in the 4th quarter. Nordea Investment Management AB now owns 11,594 shares of the biotechnology company’s stock worth $1,121,000 after purchasing an additional 544 shares during the period. Finally, ING Groep NV purchased a new position in BioMarin Pharmaceutical during the fourth quarter valued at $20,248,000. 98.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, Director Jean Jacques Bienaime sold 20,000 shares of the business’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $91.26, for a total transaction of $1,825,200.00. Following the transaction, the director now owns 474,994 shares in the company, valued at $43,347,952.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 2,286 shares of the company’s 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 transaction, the chief accounting officer now owns 16,156 shares of the company’s stock, valued at approximately $1,454,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jean Jacques Bienaime sold 20,000 shares of BioMarin Pharmaceutical stock in a transaction on Friday, April 12th. The stock was sold at an average price of $91.26, for a total value of $1,825,200.00. Following the sale, the director now owns 474,994 shares of the company’s stock, valued at $43,347,952.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 114,588 shares of company stock worth $9,413,633. Company insiders own 1.85% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on BMRN shares. Evercore ISI initiated coverage on BioMarin Pharmaceutical in a research report on Tuesday, May 14th. They set an “outperform” rating and a $113.00 price objective on the stock. Canaccord Genuity Group lowered their price target on shares of BioMarin Pharmaceutical from $91.00 to $89.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Citigroup reduced their price objective on shares of BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Baird R W cut shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 17th. Finally, Morgan Stanley cut their price target on BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating for the company in a research note on Friday, April 26th. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.11.

Read Our Latest Analysis on BMRN

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock opened at $80.85 on Friday. The company’s 50-day moving average price is $82.98 and its 200-day moving average price is $88.14. The company has a quick ratio of 1.70, a current ratio of 2.74 and a debt-to-equity ratio of 0.12. The company has a market cap of $15.35 billion, a PE ratio of 75.56, a price-to-earnings-growth ratio of 1.12 and a beta of 0.31. BioMarin Pharmaceutical Inc. has a twelve month low of $73.68 and a twelve month high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.12. The company had revenue of $648.83 million for the quarter, compared to analysts’ expectations of $649.75 million. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. On average, equities research analysts forecast that BioMarin Pharmaceutical Inc. will post 1.99 EPS for the current fiscal year.

BioMarin Pharmaceutical Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for BioMarin Pharmaceutical (NASDAQ:BMRN)

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