Royal London Asset Management Ltd. Purchases 1,917 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Royal London Asset Management Ltd. boosted its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRNFree Report) by 2.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 73,817 shares of the biotechnology company’s stock after acquiring an additional 1,917 shares during the period. Royal London Asset Management Ltd.’s holdings in BioMarin Pharmaceutical were worth $7,117,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Ameriprise Financial Inc. raised its stake in BioMarin Pharmaceutical by 5.6% during the third quarter. Ameriprise Financial Inc. now owns 5,163,949 shares of the biotechnology company’s stock valued at $456,906,000 after purchasing an additional 275,436 shares in the last quarter. Norges Bank bought a new position in BioMarin Pharmaceutical during the fourth quarter valued at $324,098,000. Charles Schwab Investment Management Inc. increased its position in BioMarin Pharmaceutical by 5.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,378,897 shares of the biotechnology company’s stock valued at $132,953,000 after acquiring an additional 74,100 shares during the last quarter. Northern Trust Corp increased its position in BioMarin Pharmaceutical by 3.7% during the third quarter. Northern Trust Corp now owns 1,219,814 shares of the biotechnology company’s stock valued at $107,929,000 after acquiring an additional 43,695 shares during the last quarter. Finally, Manning & Napier Group LLC increased its position in BioMarin Pharmaceutical by 0.5% during the fourth quarter. Manning & Napier Group LLC now owns 1,145,113 shares of the biotechnology company’s stock valued at $110,412,000 after acquiring an additional 6,161 shares during the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Canaccord Genuity Group cut 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. Wells Fargo & Company upped their price target on shares of BioMarin Pharmaceutical from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Morgan Stanley cut their price target on shares of BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating on the stock in a report on Friday, April 26th. Citigroup dropped their target price on shares of BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Finally, Robert W. Baird cut shares of BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $104.00 to $72.00 in a report on Friday, May 17th. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $106.11.

Check Out Our Latest Stock Report on BioMarin Pharmaceutical

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, CFO Brian Mueller sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $75.19, for a total transaction of $375,950.00. Following the completion of the transaction, the chief financial officer now directly owns 72,159 shares of the company’s stock, valued at approximately $5,425,635.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Brian Mueller sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $75.19, for a total transaction of $375,950.00. Following the sale, the chief financial officer now owns 72,159 shares of the company’s stock, valued at approximately $5,425,635.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP George Eric Davis sold 40,850 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $74.51, for a total transaction of $3,043,733.50. Following the sale, the executive vice president now directly owns 56,157 shares in the company, valued at approximately $4,184,258.07. The disclosure for this sale can be found here. In the last ninety days, insiders sold 114,588 shares of company stock valued at $9,413,633. 1.85% of the stock is owned by insiders.

BioMarin Pharmaceutical Stock Performance

BMRN opened at $80.69 on Friday. BioMarin Pharmaceutical Inc. has a 12-month low of $73.68 and a 12-month high of $99.56. The company has a current ratio of 2.74, a quick ratio of 1.70 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $15.32 billion, a PE ratio of 75.41, a P/E/G ratio of 1.13 and a beta of 0.31. The firm has a 50 day moving average of $82.85 and a two-hundred day moving average of $88.09.

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