Lindbrook Capital LLC Increases Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Lindbrook Capital LLC grew its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 259.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 385 shares of the biotechnology company’s stock after purchasing an additional 278 shares during the quarter. Lindbrook Capital LLC’s holdings in BioMarin Pharmaceutical were worth $37,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC raised its stake in shares of BioMarin Pharmaceutical by 10.0% during the third quarter. CWM LLC now owns 1,301 shares of the biotechnology company’s stock worth $115,000 after purchasing an additional 118 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of BioMarin Pharmaceutical by 3.2% in the third quarter. State of Alaska Department of Revenue now owns 27,605 shares of the biotechnology company’s stock valued at $2,442,000 after buying an additional 865 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in BioMarin Pharmaceutical by 1.8% during the third quarter. Handelsbanken Fonder AB now owns 91,755 shares of the biotechnology company’s stock worth $8,118,000 after acquiring an additional 1,593 shares during the period. Simplicity Solutions LLC raised its position in BioMarin Pharmaceutical by 8.4% in the third quarter. Simplicity Solutions LLC now owns 2,971 shares of the biotechnology company’s stock worth $263,000 after acquiring an additional 229 shares in the last quarter. Finally, AMI Asset Management Corp acquired a new stake in BioMarin Pharmaceutical in the third quarter valued at $27,838,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Price Performance

BMRN stock opened at $80.91 on Friday. The stock has a market capitalization of $15.27 billion, a price-to-earnings ratio of 75.62, a price-to-earnings-growth ratio of 1.68 and a beta of 0.31. The company has a quick ratio of 1.57, a current ratio of 2.51 and a debt-to-equity ratio of 0.12. BioMarin Pharmaceutical Inc. has a 52-week low of $76.02 and a 52-week high of $99.56. The stock’s fifty day simple moving average is $87.58 and its 200-day simple moving average is $89.13.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.05. BioMarin Pharmaceutical had a return on equity of 5.39% and a net margin of 8.31%. The firm had revenue of $646.21 million for the quarter, compared to analyst estimates of $639.53 million. During the same period last year, the company earned $0.11 EPS. The firm’s quarterly revenue was up 20.2% on a year-over-year basis. Equities research analysts expect that BioMarin Pharmaceutical Inc. will post 1.85 EPS for the current year.

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, Director Jean Jacques Bienaime sold 20,000 shares of BioMarin Pharmaceutical stock in a transaction on Friday, April 12th. The shares were sold at an average price of $91.26, for a total value of $1,825,200.00. Following the transaction, the director now owns 474,994 shares in the company, valued at approximately $43,347,952.44. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CAO Erin Burkhart sold 2,286 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $90.00, for a total value of $205,740.00. Following the transaction, the chief accounting officer now directly owns 16,156 shares in the company, valued at approximately $1,454,040. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jean Jacques Bienaime sold 20,000 shares of the business’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $91.26, for a total value of $1,825,200.00. Following the sale, the director now owns 474,994 shares of the company’s stock, valued at approximately $43,347,952.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 103,229 shares of company stock worth $9,062,967. 1.84% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BMRN. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $110.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday. Robert W. Baird reduced their price target on shares of BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating for the company in a research report on Tuesday, January 30th. Scotiabank upped their price target on BioMarin Pharmaceutical from $83.00 to $85.00 and gave the stock a “sector perform” rating in a report on Thursday. Royal Bank of Canada reiterated a “sector perform” rating and set a $100.00 target price on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Finally, Canaccord Genuity Group dropped their price target on BioMarin Pharmaceutical from $91.00 to $89.00 and set a “hold” rating for the company in a research report on Friday. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $107.50.

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.