6,941 Shares in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Acquired by Focus Partners Wealth

Focus Partners Wealth purchased a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 6,941 shares of the biotechnology company’s stock, valued at approximately $480,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in BioMarin Pharmaceutical by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 19,372,185 shares of the biotechnology company’s stock worth $1,273,334,000 after buying an additional 93,531 shares during the period. Dodge & Cox raised its stake in BioMarin Pharmaceutical by 6.1% during the 4th quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company’s stock worth $969,270,000 after buying an additional 847,917 shares during the period. Capital Research Global Investors raised its stake in BioMarin Pharmaceutical by 23.8% during the 4th quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company’s stock worth $853,944,000 after buying an additional 2,496,817 shares during the period. Norges Bank acquired a new position in BioMarin Pharmaceutical during the 4th quarter worth approximately $234,645,000. Finally, Geode Capital Management LLC raised its stake in BioMarin Pharmaceutical by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 3,288,778 shares of the biotechnology company’s stock worth $215,784,000 after buying an additional 28,728 shares during the period. 98.71% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,786 shares of the firm’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $59.31, for a total value of $105,927.66. Following the completion of the transaction, the chief accounting officer now directly owns 14,173 shares of the company’s stock, valued at $840,600.63. This trade represents a 11.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 4,698 shares of company stock valued at $308,172 over the last three months. Company insiders own 0.85% of the company’s stock.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN opened at $59.93 on Wednesday. The stock has a fifty day simple moving average of $63.19 and a two-hundred day simple moving average of $64.95. BioMarin Pharmaceutical Inc. has a 1-year low of $52.93 and a 1-year high of $94.85. The firm has a market cap of $11.49 billion, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 0.61 and a beta of 0.27. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.18. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. The business had revenue of $747.31 million during the quarter, compared to analyst estimates of $711.05 million. Analysts anticipate that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Analysts Set New Price Targets

BMRN has been the topic of a number of research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Piper Sandler increased their price objective on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. The Goldman Sachs Group lowered their price objective on BioMarin Pharmaceutical from $124.00 to $104.00 and set a “buy” rating for the company in a research note on Monday, May 5th. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Finally, Oppenheimer raised BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price objective for the company in a research note on Monday, February 24th. Six investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.45.

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.