Worldquant Millennium Advisors LLC Buys 214,546 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Worldquant Millennium Advisors LLC increased its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 337.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 278,118 shares of the biotechnology company’s stock after purchasing an additional 214,546 shares during the period. Worldquant Millennium Advisors LLC owned 0.15% of BioMarin Pharmaceutical worth $18,281,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of BMRN. Merit Financial Group LLC bought a new position in BioMarin Pharmaceutical in the 4th quarter worth approximately $317,000. UMB Bank n.a. raised its position 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 purchasing an additional 736 shares during the last quarter. Perpetual Ltd bought a new position in BioMarin Pharmaceutical in the 4th quarter worth approximately $230,000. Exchange Traded Concepts LLC raised its position in BioMarin Pharmaceutical by 12.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 18,817 shares of the biotechnology company’s stock worth $1,237,000 after purchasing an additional 2,154 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in shares of BioMarin Pharmaceutical by 13.9% during the 4th quarter. Fifth Third Bancorp now owns 1,351 shares of the biotechnology company’s stock valued at $89,000 after acquiring an additional 165 shares during the last quarter. Institutional investors own 98.71% of the company’s stock.

Insider Transactions at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,295 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total transaction of $92,618.40. Following the completion of the transaction, the chief accounting officer now directly owns 16,955 shares in the company, valued at $1,212,621.60. This represents a 7.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 4,698 shares of company stock worth $308,172 in the last three months. Insiders own 0.85% of the company’s stock.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN opened at $59.93 on Wednesday. The firm has a market cap of $11.49 billion, a PE ratio of 27.24, a PEG ratio of 0.61 and a beta of 0.27. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 1-year low of $52.93 and a 1-year high of $94.85. The company has a fifty day moving average price of $63.19 and a 200 day moving average price of $64.95.

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 analysts’ consensus estimates of $0.54 by $0.18. The firm had revenue of $747.31 million during the quarter, compared to analyst estimates of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. Research analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the stock. Bank of America upped their target price on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. The Goldman Sachs Group dropped their target price on shares of BioMarin Pharmaceutical from $124.00 to $104.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Royal Bank of Canada reiterated 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 dropped their target price on shares of BioMarin Pharmaceutical from $82.00 to $78.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Finally, UBS Group upped their target price on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.