Geode Capital Management LLC Acquires 28,728 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Geode Capital Management LLC lifted its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,288,778 shares of the biotechnology company’s stock after purchasing an additional 28,728 shares during the quarter. Geode Capital Management LLC’s holdings in BioMarin Pharmaceutical were worth $215,784,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TD Private Client Wealth LLC grew its position in BioMarin Pharmaceutical by 57.4% during the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after buying an additional 186 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of BioMarin Pharmaceutical during the 4th quarter valued at $36,000. CIBC Private Wealth Group LLC grew its holdings in shares of BioMarin Pharmaceutical by 64.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 233 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of BioMarin Pharmaceutical by 111.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company’s stock worth $58,000 after purchasing an additional 466 shares during the period. Finally, UMB Bank n.a. raised its stake in BioMarin Pharmaceutical by 260.1% in the fourth quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company’s stock valued at $67,000 after purchasing an additional 736 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Down 10.7 %

Shares of NASDAQ:BMRN opened at $60.26 on Friday. The firm has a market cap of $11.50 billion, a P/E ratio of 27.39, a P/E/G ratio of 0.61 and a beta of 0.30. BioMarin Pharmaceutical Inc. has a 12-month low of $59.99 and a 12-month high of $94.85. The business has a fifty day simple moving average of $67.95 and a 200 day simple moving average of $67.22. 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 (NASDAQ:BMRN) last posted its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.18. The company had revenue of $747.31 million for 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%. Analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Insider Transactions at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,344 shares of the stock in a transaction dated 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 sale, the chief accounting officer now directly owns 13,105 shares in the company, valued at approximately $896,119.90. This trade represents a 9.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.85% of the company’s stock.

Analysts Set New Price Targets

BMRN has been the topic of a number of analyst reports. Piper Sandler increased their price objective on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Oppenheimer upgraded shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price target on the stock in a research report on Monday, February 24th. Wedbush reissued an “outperform” rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Scotiabank upped their target price on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 20th. Finally, Bank of America lifted their price target on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus 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.