Allianz SE Buys Shares of 46,830 BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Allianz SE bought a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 46,830 shares of the biotechnology company’s stock, valued at approximately $3,065,000.

Several other hedge funds have also recently modified their holdings of BMRN. Daiwa Securities Group Inc. raised its position in BioMarin Pharmaceutical by 7.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 18,006 shares of the biotechnology company’s stock worth $1,266,000 after buying an additional 1,185 shares during the last quarter. FMR LLC grew its stake in shares of BioMarin Pharmaceutical by 21.7% in the third quarter. FMR LLC now owns 206,538 shares of the biotechnology company’s stock worth $14,518,000 after acquiring an additional 36,877 shares during the period. Quantbot Technologies LP purchased a new position in shares of BioMarin Pharmaceutical during the third quarter valued at approximately $171,000. Glenmede Trust Co. NA bought a new position in BioMarin Pharmaceutical during the third quarter valued at approximately $254,000. Finally, Rockefeller Capital Management L.P. boosted its holdings in BioMarin Pharmaceutical by 16.5% in the third quarter. Rockefeller Capital Management L.P. now owns 266,633 shares of the biotechnology company’s stock worth $18,742,000 after purchasing an additional 37,805 shares during the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

BMRN opened at $71.44 on Friday. 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 $13.63 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 0.61 and a beta of 0.33. The company has a fifty day moving average of $67.46 and a 200 day moving average of $67.63. BioMarin Pharmaceutical Inc. has a fifty-two week low of $60.63 and a fifty-two week high of $94.85.

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

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,295 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total value of $92,618.40. Following the completion of the transaction, the chief accounting officer now owns 16,955 shares of the company’s stock, valued at approximately $1,212,621.60. This trade represents a 7.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.85% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BMRN shares. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Scotiabank increased their target price on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, February 20th. UBS Group raised their target price on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Oppenheimer raised shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price target for the company in a research report on Monday, February 24th. Finally, Wedbush reissued an “outperform” rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $94.00.

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.