Bellevue Group AG Has $6.31 Million Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Bellevue Group AG boosted its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRNGet Rating) by 38.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,400 shares of the biotechnology company’s stock after buying an additional 19,700 shares during the period. Bellevue Group AG’s holdings in BioMarin Pharmaceutical were worth $6,308,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Campbell & CO Investment Adviser LLC acquired a new position in BioMarin Pharmaceutical in the fourth quarter valued at $526,000. Skandinaviska Enskilda Banken AB publ lifted its holdings in BioMarin Pharmaceutical by 10.9% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 86,861 shares of the biotechnology company’s stock valued at $7,737,000 after buying an additional 8,570 shares during the period. Aquila Investment Management LLC acquired a new position in BioMarin Pharmaceutical in the fourth quarter valued at $707,000. Dimensional Fund Advisors LP raised its holdings in shares of BioMarin Pharmaceutical by 5.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 552,022 shares of the biotechnology company’s stock valued at $48,775,000 after purchasing an additional 26,813 shares during the period. Finally, Evoke Wealth LLC raised its holdings in shares of BioMarin Pharmaceutical by 9.1% during the fourth quarter. Evoke Wealth LLC now owns 2,071 shares of the biotechnology company’s stock valued at $183,000 after purchasing an additional 173 shares during the period. Institutional investors and hedge funds own 95.45% of the company’s stock.

In other news, CEO Jean Jacques Bienaime sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 5th. The shares were sold at an average price of $84.14, for a total transaction of $841,400.00. Following the completion of the transaction, the chief executive officer now directly owns 335,324 shares of the company’s stock, valued at approximately $28,214,161.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey Robert Ajer sold 1,180 shares of the stock in a transaction that occurred on Wednesday, April 13th. The shares were sold at an average price of $82.47, for a total transaction of $97,314.60. Following the transaction, the executive vice president now directly owns 55,077 shares of the company’s stock, valued at $4,542,200.19. The disclosure for this sale can be found here. Insiders sold a total of 131,727 shares of company stock valued at $10,786,429 over the last ninety days. 1.75% of the stock is currently owned by insiders.

BMRN has been the topic of several research reports. Morgan Stanley upgraded shares of BioMarin Pharmaceutical from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $96.00 to $113.00 in a report on Monday, April 25th. Truist Financial upped their price objective on shares of BioMarin Pharmaceutical from $125.00 to $135.00 in a report on Monday, January 10th. StockNews.com upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a report on Friday. Jefferies Financial Group reiterated a “buy” rating and set a $100.00 price objective on shares of BioMarin Pharmaceutical in a report on Wednesday, May 4th. Finally, Piper Sandler upped their price objective on shares of BioMarin Pharmaceutical from $121.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, February 24th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of “Buy” and an average target price of $111.93.

BMRN stock traded up $4.71 during trading on Tuesday, reaching $79.33. The stock had a trading volume of 62,892 shares, compared to its average volume of 1,286,764. BioMarin Pharmaceutical Inc. has a one year low of $71.59 and a one year high of $94.20. The company has a quick ratio of 2.77, a current ratio of 4.88 and a debt-to-equity ratio of 0.25. The company’s 50 day moving average is $80.18 and its two-hundred day moving average is $83.70. The company has a market capitalization of $14.68 billion, a price-to-earnings ratio of 441.22, a P/E/G ratio of 1.66 and a beta of 0.41.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Rating) last issued its quarterly earnings data on Wednesday, April 27th. The biotechnology company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.16. BioMarin Pharmaceutical had a net margin of 2.09% and a return on equity of 1.36%. The business had revenue of $519.36 million during the quarter, compared to the consensus estimate of $505.11 million. During the same period in the prior year, the firm posted $0.29 EPS. As a group, research analysts predict that BioMarin Pharmaceutical Inc. will post 0.94 earnings per share for the current fiscal year.

BioMarin Pharmaceutical Profile (Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for BioMarin Pharmaceutical (NASDAQ:BMRN)

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