Inceptionr LLC Acquires New Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Inceptionr LLC acquired a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 34,019 shares of the biotechnology company’s stock, valued at approximately $2,236,000. BioMarin Pharmaceutical makes up about 0.5% of Inceptionr LLC’s portfolio, making the stock its 14th biggest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Arizona State Retirement System raised its position in BioMarin Pharmaceutical by 1.6% during the fourth quarter. Arizona State Retirement System now owns 55,280 shares of the biotechnology company’s stock valued at $3,634,000 after acquiring an additional 880 shares in the last quarter. Proficio Capital Partners LLC bought a new position in BioMarin Pharmaceutical during the fourth quarter valued at approximately $920,000. M&T Bank Corp raised its position in shares of BioMarin Pharmaceutical by 9.5% in the fourth quarter. M&T Bank Corp now owns 7,085 shares of the biotechnology company’s stock valued at $466,000 after purchasing an additional 616 shares during the period. Assetmark Inc. raised its position in shares of BioMarin Pharmaceutical by 1,391.9% in the fourth quarter. Assetmark Inc. now owns 4,953 shares of the biotechnology company’s stock valued at $326,000 after purchasing an additional 4,621 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of BioMarin Pharmaceutical by 1.6% in the fourth 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. Institutional investors own 98.71% of the company’s stock.

Analysts Set New Price Targets

BMRN has been the topic of a number of recent analyst reports. Wolfe Research initiated coverage on shares of BioMarin Pharmaceutical in a research report on Friday, November 15th. They issued an “outperform” rating and a $95.00 price target on the stock. Wedbush reissued an “outperform” rating and issued a $94.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Piper Sandler lifted their price target on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Finally, Bank of America lifted their price target 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. Seven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $94.00.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,344 shares of BioMarin Pharmaceutical 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 trade represents a 9.30 % 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 this link. Company insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Stock Up 1.0 %

BMRN opened at $71.19 on Thursday. BioMarin Pharmaceutical Inc. has a fifty-two week low of $60.63 and a fifty-two week high of $94.85. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. The firm’s fifty day moving average price is $65.57 and its two-hundred day moving average price is $69.81. The company has a market capitalization of $13.58 billion, a P/E ratio of 32.36, a P/E/G ratio of 0.61 and a beta of 0.33.

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

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.