BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Stake Boosted by First Horizon Advisors Inc.

First Horizon Advisors Inc. raised its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 33.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 576 shares of the biotechnology company’s stock after buying an additional 144 shares during the quarter. First Horizon Advisors Inc.’s holdings in BioMarin Pharmaceutical were worth $56,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BMRN. KB Financial Partners LLC lifted its position in shares of BioMarin Pharmaceutical by 51.3% in the 3rd quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 118 shares in the last quarter. Castleview Partners LLC purchased a new stake in shares of BioMarin Pharmaceutical in the third quarter valued at $35,000. Lindbrook Capital LLC boosted its position in shares of BioMarin Pharmaceutical by 259.8% in the fourth quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock worth $37,000 after buying an additional 278 shares during the period. Allworth Financial LP raised 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. Finally, Signaturefd LLC lifted its stake in BioMarin Pharmaceutical by 17.9% in the 3rd quarter. Signaturefd LLC now owns 1,283 shares of the biotechnology company’s stock worth $114,000 after acquiring an additional 195 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Trading Up 0.6 %

Shares of BMRN stock opened at $82.58 on Wednesday. BioMarin Pharmaceutical Inc. has a 12 month low of $76.02 and a 12 month high of $99.56. The company has a market cap of $15.68 billion, a PE ratio of 77.18, a price-to-earnings-growth ratio of 1.30 and a beta of 0.34. The company has a quick ratio of 1.70, a current ratio of 2.74 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average is $86.56 and its two-hundred day moving average is $89.02.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.05. The business had revenue of $646.21 million during the quarter, compared to analysts’ expectations of $639.53 million. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. The firm’s revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.11 EPS. Equities analysts predict that BioMarin Pharmaceutical Inc. will post 1.98 EPS for the current year.

Analyst Ratings Changes

BMRN has been the topic of several research analyst reports. Citigroup lowered their target price on BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 price objective on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Wells Fargo & Company increased their target price on shares of BioMarin Pharmaceutical from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Piper Sandler lowered their price target 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, Scotiabank increased their price objective on BioMarin Pharmaceutical from $83.00 to $85.00 and gave the stock a “sector perform” rating in a report on Thursday, April 25th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.50.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 1,850 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $85.01, for a total transaction of $157,268.50. Following the sale, the executive vice president now directly owns 56,157 shares of the company’s stock, valued at $4,773,906.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Henry J. Fuchs sold 35,341 shares of the company’s 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 transaction, the insider now owns 212,117 shares in the company, valued at approximately $18,068,126.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP George Eric Davis sold 1,850 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $85.01, for a total transaction of $157,268.50. Following the sale, the executive vice president now directly owns 56,157 shares in the company, valued at $4,773,906.57. The disclosure for this sale can be found here. Insiders sold a total of 105,079 shares of company stock valued at $9,220,236 in the last quarter. Corporate insiders own 1.85% of the company’s stock.

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.