BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. increased its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 25.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 22,615 shares of the biotechnology company’s stock after buying an additional 4,609 shares during the period. Daiwa Securities Group Inc.’s holdings in BioMarin Pharmaceutical were worth $1,487,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of BMRN. Erste Asset Management GmbH acquired a new position in BioMarin Pharmaceutical in the third quarter valued at $48,527,000. Assenagon Asset Management S.A. raised its holdings in shares of BioMarin Pharmaceutical by 461.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company’s stock worth $40,205,000 after purchasing an additional 502,695 shares during the period. Vestal Point Capital LP acquired a new position in shares of BioMarin Pharmaceutical in the 3rd quarter valued at about $28,116,000. Clearline Capital LP purchased a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter worth about $22,477,000. Finally, Bellevue Group AG increased its position in BioMarin Pharmaceutical by 533.7% during the 3rd quarter. Bellevue Group AG now owns 330,976 shares of the biotechnology company’s stock worth $23,264,000 after purchasing an additional 278,744 shares in the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on BMRN shares. Wedbush reaffirmed an “outperform” rating and set a $94.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Oppenheimer upgraded shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 target price on the stock in a report on Monday, February 24th. StockNews.com upgraded BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a report on Monday, March 10th. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Finally, Citigroup raised their target price on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $94.00.

BioMarin Pharmaceutical Trading Down 1.6 %

NASDAQ:BMRN opened at $69.44 on Friday. BioMarin Pharmaceutical Inc. has a 12-month low of $60.63 and a 12-month high of $94.85. 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 $66.22 and a 200 day simple moving average of $68.96. The firm has a market capitalization of $13.25 billion, a P/E ratio of 31.56, a P/E/G ratio of 0.61 and a beta of 0.33.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.54 by $0.18. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. The business had revenue of $747.31 million during the quarter, compared to analyst estimates of $711.05 million. Equities research analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,344 shares of the company’s 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 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.85% of the stock is owned by corporate insiders.

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.