60,741 Shares in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Acquired by Point72 Europe London LLP

Point72 Europe London LLP purchased a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 60,741 shares of the biotechnology company’s stock, valued at approximately $3,993,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in BMRN. LRI Investments LLC increased its position in shares of BioMarin Pharmaceutical by 856.9% in the 4th quarter. LRI Investments LLC now owns 488 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 437 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of BioMarin Pharmaceutical in the fourth quarter valued at about $36,000. CIBC Private Wealth Group LLC raised its stake in shares of BioMarin Pharmaceutical by 64.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 233 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in BioMarin Pharmaceutical by 111.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company’s stock valued at $58,000 after buying an additional 466 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in BioMarin Pharmaceutical by 260.1% in the 4th quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company’s stock worth $67,000 after buying an additional 736 shares during the period. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

NASDAQ BMRN opened at $58.70 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. The company has a market cap of $11.26 billion, a P/E ratio of 26.68, a P/E/G ratio of 0.61 and a beta of 0.27. The stock has a 50-day moving average of $64.13 and a two-hundred day moving average of $65.21. BioMarin Pharmaceutical Inc. has a 1-year low of $52.93 and a 1-year high of $94.85.

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

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,295 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total value of $92,618.40. Following the transaction, the chief accounting officer now owns 16,955 shares in the company, valued at approximately $1,212,621.60. This represents a 7.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 2,912 shares of company stock worth $202,244 over the last ninety days. Corporate insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

BMRN has been the subject of several research reports. Bank of America lifted their price objective on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Citigroup reduced their price objective on BioMarin Pharmaceutical from $82.00 to $78.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Finally, Wedbush reaffirmed an “outperform” rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $93.45.

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.