Candriam S.C.A. Buys 252,820 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Candriam S.C.A. raised its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 77.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 580,222 shares of the biotechnology company’s stock after buying an additional 252,820 shares during the period. Candriam S.C.A. owned about 0.30% of BioMarin Pharmaceutical worth $38,138,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. TD Private Client Wealth LLC grew its position in shares of BioMarin Pharmaceutical by 57.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 186 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at about $36,000. Meeder Asset Management Inc. grew its position in shares of BioMarin Pharmaceutical by 920.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock valued at $52,000 after buying an additional 663 shares during the last quarter. True Wealth Design LLC grew its position in shares of BioMarin Pharmaceutical by 13,400.0% in the 3rd quarter. True Wealth Design LLC now owns 810 shares of the biotechnology company’s stock valued at $57,000 after buying an additional 804 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of BioMarin Pharmaceutical by 111.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company’s stock valued at $58,000 after purchasing an additional 466 shares in the last quarter. Institutional investors own 98.71% of the company’s stock.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,344 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $68.38, for a total transaction of $91,902.72. Following the completion of the transaction, the chief accounting officer now directly owns 13,105 shares of the company’s stock, valued at approximately $896,119.90. This represents a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.85% of the stock is owned by corporate insiders.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $71.19 on Thursday. 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 company has a market capitalization of $13.58 billion, a price-to-earnings ratio of 32.36, a PEG ratio of 0.61 and a beta of 0.33. The stock has a 50 day moving average of $65.57 and a 200 day moving average of $69.81. BioMarin Pharmaceutical Inc. has a 12 month low of $60.63 and a 12 month high of $94.85.

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. As a group, sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wedbush restated an “outperform” rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Piper Sandler upped their target price on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. UBS Group upped their target price on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. 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. Finally, StockNews.com downgraded BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Seven investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.