Fisher Asset Management LLC Purchases New Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Fisher Asset Management LLC acquired a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 13,266 shares of the biotechnology company’s stock, valued at approximately $1,279,000.

Several other institutional investors have also added to or reduced their stakes in the business. KB Financial Partners LLC grew its stake in shares of BioMarin Pharmaceutical by 51.3% in the third quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 118 shares during the period. Lindbrook Capital LLC raised its stake in BioMarin Pharmaceutical by 259.8% during the 4th quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock valued at $37,000 after buying an additional 278 shares during the last quarter. Allworth Financial LP lifted its holdings in BioMarin Pharmaceutical by 54.9% in the fourth quarter. Allworth Financial LP now owns 604 shares of the biotechnology company’s stock valued at $58,000 after acquiring an additional 214 shares during the period. Signaturefd LLC boosted its holdings in shares of BioMarin Pharmaceutical by 17.9% in the third quarter. Signaturefd LLC now owns 1,283 shares of the biotechnology company’s stock worth $114,000 after buying an additional 195 shares during the last quarter. Finally, Headlands Technologies LLC boosted its stake in shares of BioMarin Pharmaceutical by 950.0% during the 4th quarter. Headlands Technologies LLC now owns 1,281 shares of the biotechnology company’s stock worth $124,000 after acquiring an additional 1,159 shares during the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Price Performance

BMRN stock opened at $81.72 on Friday. The company has a fifty day simple moving average of $86.34 and a two-hundred day simple moving average of $88.92. The company has a quick ratio of 1.70, a current ratio of 2.74 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $15.52 billion, a P/E ratio of 76.37, a price-to-earnings-growth ratio of 1.30 and a beta of 0.34. BioMarin Pharmaceutical Inc. has a 52 week low of $76.02 and a 52 week high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued 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. The business had revenue of $646.21 million for the quarter, compared to the consensus estimate of $639.53 million. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. The company’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.11 earnings per share. Analysts anticipate that BioMarin Pharmaceutical Inc. will post 1.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

BMRN has been the topic of a number of analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $100.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Canaccord Genuity Group lowered their price target on shares of BioMarin Pharmaceutical from $91.00 to $89.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Wells Fargo & Company increased their price objective on shares of BioMarin Pharmaceutical from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Morgan Stanley lowered their target price on shares of BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating on the stock in a research note on Friday, April 26th. Finally, Scotiabank upped their target price on shares of BioMarin Pharmaceutical from $83.00 to $85.00 and gave the stock a “sector perform” rating in a report on Thursday, April 25th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.50.

Insiders Place Their Bets

In other news, insider Henry J. Fuchs sold 35,341 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $85.18, for a total value of $3,010,346.38. Following the completion of the sale, the insider now owns 212,117 shares in the company, valued at approximately $18,068,126.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP George Eric Davis sold 1,850 shares of BioMarin Pharmaceutical stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $85.01, for a total transaction of $157,268.50. Following the completion of the sale, the executive vice president now directly owns 56,157 shares in the company, valued at $4,773,906.57. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Henry J. Fuchs sold 35,341 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $85.18, for a total transaction of $3,010,346.38. Following the completion of the transaction, the insider now owns 212,117 shares in the company, valued at $18,068,126.06. The disclosure for this sale can be found here. Insiders sold 90,079 shares of company stock valued at $7,896,036 over the last three months. 1.85% of the stock is owned by company insiders.

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.