Renaissance Technologies LLC Buys 17,000 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Renaissance Technologies LLC lifted its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 4.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 435,871 shares of the biotechnology company’s stock after buying an additional 17,000 shares during the period. Renaissance Technologies LLC owned about 0.23% of BioMarin Pharmaceutical worth $28,650,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Kovitz Investment Group Partners LLC lifted its position in shares of BioMarin Pharmaceutical by 63.9% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 5,081 shares of the biotechnology company’s stock worth $357,000 after acquiring an additional 1,981 shares during the period. XTX Topco Ltd raised its stake in shares of BioMarin Pharmaceutical by 37.5% in the third quarter. XTX Topco Ltd now owns 6,898 shares of the biotechnology company’s stock valued at $485,000 after purchasing an additional 1,880 shares in the last quarter. MML Investors Services LLC lifted its position in BioMarin Pharmaceutical by 8.1% in the third quarter. MML Investors Services LLC now owns 7,621 shares of the biotechnology company’s stock worth $536,000 after purchasing an additional 572 shares during the period. Geode Capital Management LLC boosted its stake in BioMarin Pharmaceutical by 1.9% during the third quarter. Geode Capital Management LLC now owns 3,260,050 shares of the biotechnology company’s stock worth $228,632,000 after buying an additional 60,692 shares in the last quarter. Finally, Toronto Dominion Bank increased its holdings in BioMarin Pharmaceutical by 31.3% in the 3rd quarter. Toronto Dominion Bank now owns 23,942 shares of the biotechnology company’s stock valued at $1,683,000 after buying an additional 5,711 shares during the period. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Price Performance

BMRN opened at $56.82 on Friday. The stock has a market cap of $10.84 billion, a P/E ratio of 25.83, a P/E/G ratio of 0.61 and a beta of 0.30. BioMarin Pharmaceutical Inc. has a 12 month low of $52.93 and a 12 month high of $94.85. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11. The company has a fifty day simple moving average of $67.19 and a 200 day simple moving average of $66.62.

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

Analyst Upgrades and Downgrades

BMRN has been the subject of a number of analyst reports. UBS Group raised their price objective on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. StockNews.com raised BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Scotiabank raised their target price on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 20th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and a consensus price target of $94.00.

Insiders Place Their Bets

In related news, CAO Erin Burkhart sold 1,344 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $68.38, for a total value 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 represents a 9.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.85% of the company’s stock.

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.