AIA Group Ltd Purchases 270 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

AIA Group Ltd raised its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 7.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,705 shares of the biotechnology company’s stock after purchasing an additional 270 shares during the quarter. AIA Group Ltd’s holdings in BioMarin Pharmaceutical were worth $244,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Merit Financial Group LLC bought a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth about $317,000. Assenagon Asset Management S.A. raised its stake in shares of 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 bought a new position in shares of BioMarin Pharmaceutical in the fourth quarter valued at approximately $430,000. Swedbank AB boosted its position in shares of 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 buying an additional 43,593 shares during the last quarter. Finally, Tidal Investments LLC grew its holdings in BioMarin Pharmaceutical by 150.4% during the third quarter. Tidal Investments LLC now owns 30,467 shares of the biotechnology company’s stock worth $2,142,000 after buying an additional 18,300 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

Insider Activity

In related news, CAO Erin Burkhart sold 1,295 shares of the business’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 16,955 shares in the company, valued at $1,212,621.60. The trade was 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 through this hyperlink. Company insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $67.94 on Wednesday. BioMarin Pharmaceutical Inc. has a 52-week low of $60.63 and a 52-week high of $94.85. The stock’s 50-day simple moving average is $67.75 and its 200 day simple moving average is $67.30. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33. The stock has a market capitalization of $12.96 billion, a price-to-earnings ratio of 30.88, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33.

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BMRN. Bank of America lifted their price objective on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Scotiabank upped their price objective on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 20th. UBS Group lifted their target price on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Finally, Oppenheimer upgraded BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price target on the stock in a report on Monday, February 24th. Seven research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $94.00.

BioMarin Pharmaceutical 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.