BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Purchased by abrdn plc

abrdn plc lifted its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1,053.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 376,238 shares of the biotechnology company’s stock after acquiring an additional 343,615 shares during the quarter. abrdn plc’s holdings in BioMarin Pharmaceutical were worth $36,277,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. KB Financial Partners LLC grew its position in BioMarin Pharmaceutical by 51.3% during the third quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 118 shares during the period. Castleview Partners LLC acquired a new stake in BioMarin Pharmaceutical during the third quarter valued at $35,000. Allworth Financial LP grew its position in BioMarin Pharmaceutical by 54.9% during the fourth quarter. Allworth Financial LP now owns 604 shares of the biotechnology company’s stock valued at $58,000 after buying an additional 214 shares during the period. Signaturefd LLC grew its position in BioMarin Pharmaceutical by 17.9% during the third quarter. Signaturefd LLC now owns 1,283 shares of the biotechnology company’s stock valued at $114,000 after buying an additional 195 shares during the period. Finally, CWM LLC grew its position in BioMarin Pharmaceutical by 10.0% during the third quarter. CWM LLC now owns 1,301 shares of the biotechnology company’s stock valued at $115,000 after buying an additional 118 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Price Performance

Shares of BMRN stock opened at $89.49 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.51 and a quick ratio of 1.57. The firm’s 50-day moving average is $87.64 and its two-hundred day moving average is $89.18. BioMarin Pharmaceutical Inc. has a 12 month low of $76.02 and a 12 month high of $99.56. The company has a market capitalization of $16.89 billion, a PE ratio of 101.69, a price-to-earnings-growth ratio of 1.64 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.05. BioMarin Pharmaceutical had a net margin of 6.93% and a return on equity of 5.01%. The company had revenue of $646.21 million for the quarter, compared to the consensus estimate of $639.53 million. During the same period in the previous year, the firm earned $0.11 earnings per share. BioMarin Pharmaceutical’s quarterly revenue was up 20.2% compared to the same quarter last year. Analysts predict that BioMarin Pharmaceutical Inc. will post 1.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BMRN. Cantor Fitzgerald restated an “overweight” rating and set a $100.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Canaccord Genuity Group reaffirmed a “hold” rating and set a $91.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 29th. Robert W. Baird decreased their price objective on shares of BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating on the stock in a report on Tuesday, January 30th. Piper Sandler decreased their price objective on shares of BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $100.00 price objective on shares of BioMarin Pharmaceutical in a report on Friday, February 23rd. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $107.61.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, insider Henry J. Fuchs sold 35,341 shares of BioMarin Pharmaceutical stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $85.18, for a total transaction of $3,010,346.38. Following the completion of the sale, the insider now directly owns 212,117 shares in the company, valued at $18,068,126.06. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other BioMarin Pharmaceutical news, Director Jean Jacques Bienaime sold 20,000 shares of BioMarin Pharmaceutical stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $91.26, for a total transaction of $1,825,200.00. Following the completion of the sale, the director now directly owns 474,994 shares in the company, valued at $43,347,952.44. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Henry J. Fuchs sold 35,341 shares of BioMarin Pharmaceutical stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $85.18, for a total transaction of $3,010,346.38. Following the sale, the insider now owns 212,117 shares of the company’s stock, valued at $18,068,126.06. The disclosure for this sale can be found here. Insiders have sold 103,229 shares of company stock valued at $9,062,967 over the last ninety days. Company insiders own 1.84% of the company’s stock.

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.