International Assets Investment Management LLC Invests $3.60 Million in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

International Assets Investment Management LLC acquired a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 37,315 shares of the biotechnology company’s stock, valued at approximately $3,598,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. KB Financial Partners LLC boosted its stake in BioMarin Pharmaceutical by 51.3% in the 3rd quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 118 shares in the last quarter. ICA Group Wealth Management LLC acquired a new stake in BioMarin Pharmaceutical in the 4th quarter worth approximately $31,000. Acadian Asset Management LLC boosted its stake in BioMarin Pharmaceutical by 395.4% in the 1st quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 344 shares in the last quarter. Castleview Partners LLC acquired a new stake in BioMarin Pharmaceutical in the 3rd quarter worth approximately $35,000. Finally, MayTech Global Investments LLC acquired a new stake in BioMarin Pharmaceutical in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BMRN shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 target price on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Canaccord Genuity Group restated a “hold” rating and set a $91.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 29th. Robert W. Baird decreased their price objective on shares of BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating for the company in a research note on Tuesday, January 30th. Piper Sandler decreased their price objective on shares of BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. Finally, Stifel Nicolaus restated a “buy” rating and set a $101.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, December 21st. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $107.61.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, Director Jean Jacques Bienaime sold 20,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $43,347,952.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Erin Burkhart sold 2,286 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $90.00, for a total transaction of $205,740.00. Following the sale, the chief accounting officer now owns 16,156 shares of the company’s stock, valued at $1,454,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jean Jacques Bienaime sold 20,000 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $91.26, for a total transaction of $1,825,200.00. Following the sale, the director now directly owns 474,994 shares in the company, valued at approximately $43,347,952.44. The disclosure for this sale can be found here. Insiders have sold 103,229 shares of company stock valued at $9,062,967 over the last 90 days. 1.84% of the stock is owned by insiders.

BioMarin Pharmaceutical Trading Down 0.4 %

Shares of BMRN opened at $90.47 on Thursday. The company has a current ratio of 2.51, a quick ratio of 1.57 and a debt-to-equity ratio of 0.12. BioMarin Pharmaceutical Inc. has a 12-month low of $76.02 and a 12-month high of $100.31. The firm has a 50-day moving average price of $87.57 and a 200 day moving average price of $89.11. The firm has a market capitalization of $17.07 billion, a P/E ratio of 102.81, a P/E/G ratio of 1.69 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. BioMarin Pharmaceutical had a net margin of 6.93% and a return on equity of 5.01%. The firm had revenue of $646.21 million during the quarter, compared to analyst estimates of $639.53 million. During the same quarter in the prior year, the firm posted $0.11 earnings per share. BioMarin Pharmaceutical’s quarterly revenue was up 20.2% on a year-over-year basis. Sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 1.85 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.