Gabelli Funds LLC Buys 7,500 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Gabelli Funds LLC raised its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 58.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 20,339 shares of the biotechnology company’s stock after acquiring an additional 7,500 shares during the period. Gabelli Funds LLC’s holdings in BioMarin Pharmaceutical were worth $1,337,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MML Investors Services LLC boosted its stake in BioMarin Pharmaceutical by 8.1% during the third quarter. MML Investors Services LLC now owns 7,621 shares of the biotechnology company’s stock worth $536,000 after acquiring an additional 572 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter worth approximately $809,000. Tidal Investments LLC increased its position in BioMarin Pharmaceutical by 150.4% during the 3rd quarter. Tidal Investments LLC now owns 30,467 shares of the biotechnology company’s stock valued at $2,142,000 after buying an additional 18,300 shares in the last quarter. Synovus Financial Corp boosted its holdings in BioMarin Pharmaceutical by 25.7% in the third quarter. Synovus Financial Corp now owns 30,253 shares of the biotechnology company’s stock worth $2,127,000 after acquiring an additional 6,191 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of BioMarin Pharmaceutical by 57.5% in the fourth quarter. GAMMA Investing LLC now owns 1,232 shares of the biotechnology company’s stock worth $81,000 after acquiring an additional 450 shares during the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,295 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was 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 $1,212,621.60. This represents a 7.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Stock Up 0.6 %

NASDAQ BMRN opened at $59.17 on Friday. BioMarin Pharmaceutical Inc. has a 52 week low of $52.93 and a 52 week high of $94.85. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $11.29 billion, a P/E ratio of 26.90, a price-to-earnings-growth ratio of 0.61 and a beta of 0.30. The stock’s 50-day moving average price is $66.74 and its 200-day moving average price is $66.25.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results 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. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. The business had revenue of $747.31 million during the quarter, compared to analyst estimates of $711.05 million. On average, equities research analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Wall Street Analyst Weigh In

BMRN has been the topic of a number of analyst reports. Wedbush reiterated an “outperform” rating and issued a $94.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Citigroup upped their target price on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. StockNews.com cut BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and an average 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.