Global Retirement Partners LLC Grows Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Global Retirement Partners LLC increased its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 18.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,708 shares of the biotechnology company’s stock after buying an additional 422 shares during the quarter. Global Retirement Partners LLC’s holdings in BioMarin Pharmaceutical were worth $178,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Merit Financial Group LLC purchased a new stake in BioMarin Pharmaceutical in the fourth quarter worth about $317,000. Assenagon Asset Management S.A. grew its stake in shares of BioMarin Pharmaceutical by 461.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company’s stock valued at $40,205,000 after acquiring an additional 502,695 shares during the period. Wedmont Private Capital purchased a new stake in BioMarin Pharmaceutical in the 4th quarter worth approximately $430,000. Swedbank AB raised its stake in BioMarin Pharmaceutical by 11.2% during the 4th quarter. Swedbank AB now owns 432,122 shares of the biotechnology company’s stock worth $28,403,000 after acquiring an additional 43,593 shares during the period. Finally, EULAV Asset Management lifted its holdings in BioMarin Pharmaceutical by 12.9% during the third quarter. EULAV Asset Management now owns 131,000 shares of the biotechnology company’s stock valued at $9,208,000 after purchasing an additional 15,000 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. William Blair cut shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Robert W. Baird cut their price target on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Wolfe Research began coverage on BioMarin Pharmaceutical in a research report on Friday, November 15th. They issued an “outperform” rating and a $95.00 price objective on the stock. UBS Group increased their target price on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Finally, Bank of America boosted their price target on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $94.00.

Insider Transactions at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,344 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $68.38, for a total value of $91,902.72. Following the sale, the chief accounting officer now directly owns 13,105 shares of the company’s stock, valued at $896,119.90. This represents a 9.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Price Performance

NASDAQ:BMRN opened at $68.81 on Thursday. The firm has a market capitalization of $13.11 billion, a price-to-earnings ratio of 31.28, a PEG ratio of 0.61 and a beta of 0.28. 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 business has a 50 day simple moving average of $65.11 and a 200-day simple moving average of $70.47. BioMarin Pharmaceutical Inc. has a 1 year low of $60.63 and a 1 year high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.18. The company 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%. Equities analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

BioMarin Pharmaceutical 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.