Proficio Capital Partners LLC bought a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 14,000 shares of the biotechnology company's stock, valued at approximately $920,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in BMRN. TD Private Client Wealth LLC grew its stake in BioMarin Pharmaceutical by 57.4% during the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company's stock worth $36,000 after buying an additional 186 shares during the last quarter. Meeder Asset Management Inc. grew its stake in BioMarin Pharmaceutical by 920.8% during the third quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company's stock worth $52,000 after buying an additional 663 shares during the last quarter. True Wealth Design LLC grew its stake in BioMarin Pharmaceutical by 13,400.0% during the third quarter. True Wealth Design LLC now owns 810 shares of the biotechnology company's stock worth $57,000 after buying an additional 804 shares during the last quarter. UMB Bank n.a. grew its stake in BioMarin Pharmaceutical by 260.1% during the fourth 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 last quarter. Finally, Covestor Ltd grew its stake in BioMarin Pharmaceutical by 336.4% during the third quarter. Covestor Ltd now owns 1,030 shares of the biotechnology company's stock worth $72,000 after buying an additional 794 shares during the last quarter. Institutional investors own 98.71% of the company's stock.
A number of equities analysts have recently issued reports on BMRN shares. Piper Sandler upped their target price on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Oppenheimer upgraded shares of BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 target price on the stock in a research report on Monday, February 24th. StockNews.com lowered shares of BioMarin Pharmaceutical from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 2nd. Citigroup upped their target price on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Finally, Wolfe Research started coverage on shares of BioMarin Pharmaceutical in a research report on Friday, November 15th. They set an "outperform" rating and a $95.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $94.00.
View Our Latest Stock Analysis on BioMarin Pharmaceutical
In other news, CAO Erin Burkhart sold 1,344 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $68.38, for a total transaction of $91,902.72. Following the completion of the sale, the chief accounting officer now owns 13,105 shares of the company's stock, valued at $896,119.90. This represents a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.85% of the stock is owned by insiders.
BMRN traded up $1.02 during mid-day trading on Friday, hitting $72.23. The stock had a trading volume of 1,681,814 shares, compared to its average volume of 1,778,652. The stock's fifty day simple moving average is $65.76 and its 200-day simple moving average is $69.50. 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 firm has a market capitalization of $13.78 billion, a price-to-earnings ratio of 32.83, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a 1-year low of $60.63 and a 1-year high of $94.85.
BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted 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. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. The company had revenue of $747.31 million for the quarter, compared to analyst estimates of $711.05 million. As a group, research analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.
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.
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