Merit Financial Group LLC Takes Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Merit Financial Group LLC acquired a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRNFree Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 4,819 shares of the biotechnology company’s stock, valued at approximately $317,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Erste Asset Management GmbH acquired a new position in BioMarin Pharmaceutical during the third quarter valued at approximately $48,527,000. Assenagon Asset Management S.A. raised its stake in shares of BioMarin Pharmaceutical by 461.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company’s stock worth $40,205,000 after purchasing an additional 502,695 shares in the last quarter. Vestal Point Capital LP acquired a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter valued at approximately $28,116,000. Clearline Capital LP acquired a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter valued at approximately $22,477,000. Finally, Bellevue Group AG grew its stake in shares of BioMarin Pharmaceutical by 533.7% in the third quarter. Bellevue Group AG now owns 330,976 shares of the biotechnology company’s stock valued at $23,264,000 after buying an additional 278,744 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

Analysts Set New Price Targets

BMRN has been the subject of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, December 12th. Barclays cut their target price on shares of BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. UBS Group boosted their price target on BioMarin Pharmaceutical from $104.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Wolfe Research assumed coverage on BioMarin Pharmaceutical in a research report on Friday, November 15th. They issued an “outperform” rating and a $95.00 price objective for the company. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $80.00 target price on shares of BioMarin Pharmaceutical in a report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $94.20.

Get Our Latest Stock Analysis on BMRN

BioMarin Pharmaceutical Stock Down 0.7 %

Shares of NASDAQ BMRN opened at $61.73 on Friday. The stock has a market capitalization of $11.76 billion, a P/E ratio of 36.96, a PEG ratio of 0.54 and a beta of 0.29. The stock’s fifty day moving average is $65.16 and its 200 day moving average is $73.85. BioMarin Pharmaceutical Inc. has a 52 week low of $60.63 and a 52 week high of $94.85. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Free Report) last released its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.23). BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The firm had revenue of $746.00 million during the quarter, compared to the consensus estimate of $703.37 million. During the same period in the prior year, the business earned $0.26 earnings per share. BioMarin Pharmaceutical’s quarterly revenue was up 28.4% compared to the same quarter last year. Sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 2.5 earnings per share for the current fiscal year.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 5,278 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total value of $350,300.86. Following the completion of the transaction, the executive vice president now owns 68,909 shares of the company’s stock, valued at approximately $4,573,490.33. This represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical 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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