BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) is Sector Gamma AS’s 7th Largest Position

Sector Gamma AS grew its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 14.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 217,348 shares of the biotechnology company’s stock after purchasing an additional 27,000 shares during the quarter. BioMarin Pharmaceutical makes up 4.9% of Sector Gamma AS’s portfolio, making the stock its 7th biggest position. Sector Gamma AS’s holdings in BioMarin Pharmaceutical were worth $14,286,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in BMRN. TD Private Client Wealth LLC lifted its stake in shares of BioMarin Pharmaceutical by 57.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 186 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of BioMarin Pharmaceutical during the 4th quarter worth $36,000. Meeder Asset Management Inc. lifted its stake in shares of BioMarin Pharmaceutical by 920.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 663 shares during the last quarter. True Wealth Design LLC lifted its stake in shares of BioMarin Pharmaceutical by 13,400.0% during the 3rd quarter. True Wealth Design LLC now owns 810 shares of the biotechnology company’s stock worth $57,000 after purchasing an additional 804 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of BioMarin Pharmaceutical by 111.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company’s stock worth $58,000 after purchasing an additional 466 shares during the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Erin Burkhart sold 1,295 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total transaction of $92,618.40. Following the completion of the transaction, the chief accounting officer now directly owns 16,955 shares of the company’s stock, valued at $1,212,621.60. The trade was a 7.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.85% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on BMRN. Wedbush restated an “outperform” rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Oppenheimer upgraded BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price objective for the company in a research note on Monday, February 24th. Bank of America increased their price target on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Citigroup increased their price target on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $94.00.

BioMarin Pharmaceutical Stock Performance

Shares of BioMarin Pharmaceutical stock opened at $71.60 on Friday. BioMarin Pharmaceutical Inc. has a one year low of $60.63 and a one year high of $94.85. The company has a market cap of $13.66 billion, a price-to-earnings ratio of 32.55, a PEG ratio of 0.61 and a beta of 0.33. 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 business’s 50 day moving average price is $66.50 and its 200 day moving average price is $68.42.

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

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.