Townsquare Capital LLC Invests $296,000 in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Townsquare Capital LLC bought a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the fourth quarter, HoldingsChannel reports. The fund bought 4,501 shares of the biotechnology company’s stock, valued at approximately $296,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMRN. Rockefeller Capital Management L.P. grew its holdings in shares of BioMarin Pharmaceutical by 13.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 302,500 shares of the biotechnology company’s stock valued at $19,883,000 after acquiring an additional 35,867 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of BioMarin Pharmaceutical by 55.5% during the 4th quarter. Sterling Capital Management LLC now owns 11,192 shares of the biotechnology company’s stock worth $736,000 after purchasing an additional 3,993 shares during the last quarter. Covestor Ltd raised its stake in shares of BioMarin Pharmaceutical by 24.1% during the 4th quarter. Covestor Ltd now owns 1,278 shares of the biotechnology company’s stock worth $84,000 after purchasing an additional 248 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of BioMarin Pharmaceutical by 2.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 95,864 shares of the biotechnology company’s stock valued at $6,301,000 after buying an additional 1,900 shares during the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of BioMarin Pharmaceutical by 5.6% in the fourth quarter. Bessemer Group Inc. now owns 5,301 shares of the biotechnology company’s stock valued at $349,000 after buying an additional 281 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BMRN has been the topic of several analyst reports. UBS Group upped their price target on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Scotiabank boosted their price target on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Finally, Citigroup boosted their target price on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and a consensus target price of $94.00.

BioMarin Pharmaceutical Stock Down 0.9 %

Shares of NASDAQ BMRN opened at $58.65 on Tuesday. BioMarin Pharmaceutical Inc. has a 52 week low of $52.93 and a 52 week high of $94.85. The stock’s fifty day moving average is $66.59 and its 200 day moving average is $66.16. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33. The stock has a market capitalization of $11.19 billion, a P/E ratio of 26.66, a PEG ratio of 0.61 and a beta of 0.30.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly 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 company had revenue of $747.31 million during the quarter, compared to the consensus estimate of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. Sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal year.

Insider Activity

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,344 shares of BioMarin Pharmaceutical stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $68.38, for a total value of $91,902.72. Following the transaction, the chief accounting officer now owns 13,105 shares in the company, valued at $896,119.90. The trade was a 9.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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.