14,900 Shares in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Purchased by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. bought a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 14,900 shares of the biotechnology company’s stock, valued at approximately $979,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in BMRN. Vanguard Group Inc. raised its position in BioMarin Pharmaceutical by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 19,372,185 shares of the biotechnology company’s stock valued at $1,273,334,000 after purchasing an additional 93,531 shares in the last quarter. Dodge & Cox increased its stake in shares of BioMarin Pharmaceutical by 6.1% in the 4th quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company’s stock valued at $969,270,000 after purchasing an additional 847,917 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of BioMarin Pharmaceutical by 23.8% during the 4th quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company’s stock worth $853,944,000 after buying an additional 2,496,817 shares in the last quarter. Norges Bank bought a new stake in shares of BioMarin Pharmaceutical during the 4th quarter worth $234,645,000. Finally, Geode Capital Management LLC boosted its stake in BioMarin Pharmaceutical by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 3,288,778 shares of the biotechnology company’s stock valued at $215,784,000 after buying an additional 28,728 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Erin Burkhart sold 1,295 shares of BioMarin Pharmaceutical stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total value of $92,618.40. Following the completion of the sale, the chief accounting officer now owns 16,955 shares in the company, valued at $1,212,621.60. The trade was a 7.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders have sold 2,912 shares of company stock worth $202,244. Corporate insiders own 0.85% of the company’s stock.

BioMarin Pharmaceutical Trading Up 1.7%

BMRN opened at $59.27 on Friday. BioMarin Pharmaceutical Inc. has a twelve month low of $52.93 and a twelve month high of $94.85. The company has a fifty day moving average of $63.63 and a 200-day moving average of $65.04. The stock has a market cap of $11.37 billion, a PE ratio of 26.94, a price-to-earnings-growth ratio of 0.61 and a beta of 0.27. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11.

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

Analysts Set New Price Targets

Several brokerages have commented on BMRN. Citigroup lowered their target price 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. StockNews.com upgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 25th. Wedbush reiterated an “outperform” rating and set a $94.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.45.

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.