5,314 Shares in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Bought by Blueshift Asset Management LLC

Blueshift Asset Management LLC purchased a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 5,314 shares of the biotechnology company’s stock, valued at approximately $349,000.

Several other hedge funds have also bought and sold shares of BMRN. Merit Financial Group LLC bought a new position in shares of BioMarin Pharmaceutical during the 4th quarter valued at approximately $317,000. Assenagon Asset Management S.A. increased its position in BioMarin Pharmaceutical by 461.3% in the fourth 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 during the last quarter. Wedmont Private Capital purchased a new stake in BioMarin Pharmaceutical during the fourth quarter valued at $430,000. Swedbank AB lifted its position in BioMarin Pharmaceutical by 11.2% during the fourth quarter. Swedbank AB now owns 432,122 shares of the biotechnology company’s stock valued at $28,403,000 after purchasing an additional 43,593 shares during the last quarter. Finally, King Luther Capital Management Corp purchased a new position in shares of BioMarin Pharmaceutical in the 3rd quarter worth $2,027,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Bank of America upped their price objective on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Piper Sandler lifted their target price on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Wedbush restated an “outperform” rating and set a $94.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Finally, UBS Group raised their price target on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average target price of $94.00.

BioMarin Pharmaceutical Price Performance

Shares of BMRN stock opened at $71.24 on Friday. BioMarin Pharmaceutical Inc. has a twelve month low of $60.63 and a twelve month high of $94.85. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The stock has a fifty day simple moving average of $66.58 and a two-hundred day simple moving average of $68.28. The stock has a market capitalization of $13.59 billion, a price-to-earnings ratio of 32.38, a P/E/G ratio of 0.61 and a beta of 0.33.

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

Insider Activity

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,295 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total transaction of $92,618.40. Following the completion of the sale, the chief accounting officer now owns 16,955 shares in the company, valued at $1,212,621.60. This represents a 7.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.85% of the company’s stock.

About BioMarin Pharmaceutical

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.