IFM Investors Pty Ltd Raises Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

IFM Investors Pty Ltd raised its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 0.4% in the first quarter, Holdings Channel.com reports. The institutional investor owned 38,328 shares of the biotechnology company’s stock after buying an additional 158 shares during the quarter. IFM Investors Pty Ltd’s holdings in BioMarin Pharmaceutical were worth $3,348,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC boosted its holdings in shares of BioMarin Pharmaceutical by 10.0% in the third quarter. CWM LLC now owns 1,301 shares of the biotechnology company’s stock worth $115,000 after buying an additional 118 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of BioMarin Pharmaceutical by 3.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 27,605 shares of the biotechnology company’s stock worth $2,442,000 after acquiring an additional 865 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of BioMarin Pharmaceutical by 1.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 91,755 shares of the biotechnology company’s stock worth $8,118,000 after acquiring an additional 1,593 shares during the last quarter. Simplicity Solutions LLC grew its position in shares of BioMarin Pharmaceutical by 8.4% during the 3rd quarter. Simplicity Solutions LLC now owns 2,971 shares of the biotechnology company’s stock valued at $263,000 after acquiring an additional 229 shares during the period. Finally, AMI Asset Management Corp purchased a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter worth $27,838,000. 98.71% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Henry J. Fuchs sold 35,341 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $85.18, for a total transaction of $3,010,346.38. Following the transaction, the insider now directly owns 212,117 shares in the company, valued at approximately $18,068,126.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Henry J. Fuchs sold 35,341 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $85.18, for a total value of $3,010,346.38. Following the completion of 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jean Jacques Bienaime sold 20,000 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $91.26, for a total value of $1,825,200.00. Following the sale, the director now owns 474,994 shares in the company, valued at approximately $43,347,952.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 103,229 shares of company stock worth $9,062,967. 1.84% of the stock is owned by corporate insiders.

BioMarin Pharmaceutical Trading Down 1.5 %

BMRN traded down $1.26 on Friday, reaching $80.91. 2,257,132 shares of the company traded hands, compared to its average volume of 1,697,110. The company has a market cap of $15.27 billion, a P/E ratio of 75.62, a price-to-earnings-growth ratio of 1.51 and a beta of 0.31. The company has a quick ratio of 1.57, a current ratio of 2.51 and a debt-to-equity ratio of 0.12. BioMarin Pharmaceutical Inc. has a one year low of $76.02 and a one year high of $99.56. The firm has a fifty day simple moving average of $87.58 and a two-hundred day simple moving average of $89.13.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.05. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.39%. The firm had revenue of $646.21 million during the quarter, compared to the consensus estimate of $639.53 million. During the same quarter in the previous year, the firm posted $0.11 earnings per share. The company’s revenue was up 20.2% on a year-over-year basis. As a group, equities research analysts expect that BioMarin Pharmaceutical Inc. will post 1.85 earnings per share for the current year.

Analysts Set New Price Targets

BMRN has been the topic of a number of recent analyst reports. Morgan Stanley decreased their target price on shares of BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating on the stock in a research note on Friday. Wells Fargo & Company lifted their target price on BioMarin Pharmaceutical from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday. Robert W. Baird dropped their price target on BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating for the company in a research note on Tuesday, January 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $110.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday. Finally, Piper Sandler dropped their target price on shares of BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $107.50.

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.