APG Asset Management N.V. Buys 113,655 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

APG Asset Management N.V. lifted its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 587.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 132,987 shares of the biotechnology company’s stock after purchasing an additional 113,655 shares during the period. APG Asset Management N.V.’s holdings in BioMarin Pharmaceutical were worth $8,442,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in BioMarin Pharmaceutical by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 19,372,185 shares of the biotechnology company’s stock worth $1,273,334,000 after buying an additional 93,531 shares during the last quarter. Norges Bank acquired a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth about $234,645,000. Geode Capital Management LLC increased its stake in shares of BioMarin Pharmaceutical by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 3,288,778 shares of the biotechnology company’s stock worth $215,784,000 after purchasing an additional 28,728 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of BioMarin Pharmaceutical by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,423,508 shares of the biotechnology company’s stock valued at $93,567,000 after purchasing an additional 21,880 shares during the period. Finally, abrdn plc grew its holdings in BioMarin Pharmaceutical by 31.9% during the fourth quarter. abrdn plc now owns 695,802 shares of the biotechnology company’s stock worth $45,735,000 after purchasing an additional 168,121 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on BMRN shares. Scotiabank upped their price objective on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, February 20th. StockNews.com upgraded BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Bank of America increased their price objective on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $94.00.

Insiders Place Their Bets

In other BioMarin Pharmaceutical 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 owns 16,955 shares of the company’s stock, valued at approximately $1,212,621.60. The trade was a 7.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Trading Down 5.2 %

BMRN opened at $56.32 on Friday. The stock has a market capitalization of $10.74 billion, a price-to-earnings ratio of 25.60, a P/E/G ratio of 0.61 and a beta of 0.30. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a twelve month low of $52.93 and a twelve month high of $94.85. The company has a 50-day simple moving average of $67.31 and a 200 day simple moving average of $66.71.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued 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. The company had revenue of $747.31 million during 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%. Analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.

BioMarin Pharmaceutical Company 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.