R Squared Ltd Acquires Shares of 1,840 BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

R Squared Ltd bought a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 1,840 shares of the biotechnology company’s stock, valued at approximately $121,000.

A number of other large investors have also recently made changes to their positions in BMRN. AQR Capital Management LLC raised its position in BioMarin Pharmaceutical by 144.3% during the second quarter. AQR Capital Management LLC now owns 55,372 shares of the biotechnology company’s stock valued at $4,559,000 after purchasing an additional 32,709 shares during the period. The Manufacturers Life Insurance Company lifted its position in BioMarin Pharmaceutical by 177.7% in the second quarter. The Manufacturers Life Insurance Company now owns 180,617 shares of the biotechnology company’s stock worth $14,870,000 after buying an additional 115,578 shares during the last quarter. Mackenzie Financial Corp boosted its stake in BioMarin Pharmaceutical by 18.8% during the second quarter. Mackenzie Financial Corp now owns 30,474 shares of the biotechnology company’s stock worth $2,509,000 after buying an additional 4,832 shares during the period. Creative Planning increased its position in BioMarin Pharmaceutical by 4.6% during the second quarter. Creative Planning now owns 11,825 shares of the biotechnology company’s stock valued at $974,000 after acquiring an additional 524 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of BioMarin Pharmaceutical by 3,931.5% in the second quarter. NewEdge Advisors LLC now owns 10,885 shares of the biotechnology company’s stock valued at $896,000 after acquiring an additional 10,615 shares during the period. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Trading Up 0.7 %

NASDAQ:BMRN opened at $63.88 on Friday. The firm has a 50 day moving average of $65.16 and a 200 day moving average of $73.20. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 52 week low of $60.63 and a 52 week high of $94.85. The stock has a market capitalization of $12.17 billion, a price-to-earnings ratio of 38.25, a PEG ratio of 0.54 and a beta of 0.29.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The business had revenue of $746.00 million during the quarter, compared to analyst estimates of $703.37 million. During the same period in the previous year, the business earned $0.26 EPS. The firm’s revenue for the quarter was up 28.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.5 earnings per share for the current fiscal year.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, EVP Charles Greg Guyer sold 5,278 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total value of $350,300.86. Following the completion of the transaction, the executive vice president now directly owns 68,909 shares of the company’s stock, valued at $4,573,490.33. This trade represents a 7.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.85% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Raymond James reiterated an “outperform” rating and set a $79.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, October 10th. Canaccord Genuity Group cut their target price on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a research note on Wednesday, October 30th. Robert W. Baird decreased their price target on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Citigroup reduced their target price on BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, December 12th. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $94.20.

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.