Rockefeller Capital Management L.P. Grows Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Rockefeller Capital Management L.P. grew its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 16.5% during the 3rd quarter, Holdings Channel reports. The fund owned 266,633 shares of the biotechnology company’s stock after purchasing an additional 37,805 shares during the period. Rockefeller Capital Management L.P.’s holdings in BioMarin Pharmaceutical were worth $18,742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Innealta Capital LLC purchased a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter valued at $25,000. nVerses Capital LLC purchased a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter valued at $28,000. BOKF NA purchased a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter valued at $31,000. Quent Capital LLC boosted its holdings in shares of BioMarin Pharmaceutical by 58.9% in the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 145 shares during the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter valued at $47,000. 98.71% of the stock is owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN opened at $66.03 on Monday. The firm has a 50-day simple moving average of $67.72 and a 200-day simple moving average of $77.88. The stock has a market capitalization of $12.58 billion, a price-to-earnings ratio of 39.54, a price-to-earnings-growth ratio of 0.65 and a beta of 0.31. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 52 week low of $61.15 and a 52 week high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). The business had revenue of $746.00 million during the quarter, compared to analyst estimates of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. BioMarin Pharmaceutical’s quarterly revenue was up 28.4% on a year-over-year basis. During the same quarter last year, the company earned $0.26 earnings per share. On average, equities analysts predict that BioMarin Pharmaceutical Inc. will post 2.49 earnings per share for the current fiscal year.

Insider Activity at BioMarin Pharmaceutical

In related news, EVP Charles Greg Guyer sold 5,278 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total value of $350,300.86. Following the completion of the sale, the executive vice president now owns 68,909 shares of the company’s stock, valued at approximately $4,573,490.33. This represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.85% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BMRN shares. Cantor Fitzgerald decreased their target price on shares of BioMarin Pharmaceutical from $110.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Canaccord Genuity Group decreased their target price on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. Barclays decreased their target price on shares of BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. Stifel Nicolaus decreased their target price on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Finally, Truist Financial decreased their target price on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Seven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and a consensus price target of $94.20.

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.