Assenagon Asset Management S.A. Acquires 502,695 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Assenagon Asset Management S.A. grew its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 461.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 611,667 shares of the biotechnology company’s stock after acquiring an additional 502,695 shares during the quarter. Assenagon Asset Management S.A.’s holdings in BioMarin Pharmaceutical were worth $40,205,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of BMRN. Wedmont Private Capital bought a new position in BioMarin Pharmaceutical in the fourth quarter worth $430,000. First Hawaiian Bank raised its stake in shares of BioMarin Pharmaceutical by 1.4% in the 4th quarter. First Hawaiian Bank now owns 14,700 shares of the biotechnology company’s stock valued at $966,000 after buying an additional 200 shares in the last quarter. Everence Capital Management Inc. bought a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth about $333,000. GAMMA Investing LLC boosted its position in shares of BioMarin Pharmaceutical by 57.5% during the 4th quarter. GAMMA Investing LLC now owns 1,232 shares of the biotechnology company’s stock valued at $81,000 after acquiring an additional 450 shares in the last quarter. Finally, Synovus Financial Corp increased its stake in BioMarin Pharmaceutical by 25.7% in the third quarter. Synovus Financial Corp now owns 30,253 shares of the biotechnology company’s stock valued at $2,127,000 after acquiring an additional 6,191 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Down 0.5 %

Shares of BMRN stock opened at $61.25 on Friday. The firm’s fifty day moving average price is $65.71 and its two-hundred day moving average price is $74.62. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 1 year low of $60.63 and a 1 year high of $94.85. The firm has a market capitalization of $11.67 billion, a P/E ratio of 36.68, a PEG ratio of 0.59 and a beta of 0.29.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The company had revenue of $746.00 million during the quarter, compared to analyst estimates of $703.37 million. During the same period in the prior year, the firm posted $0.26 EPS. BioMarin Pharmaceutical’s revenue was up 28.4% compared to the same quarter last year. On average, equities analysts predict that BioMarin Pharmaceutical Inc. will post 2.5 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on BMRN. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, December 12th. Wedbush raised shares of BioMarin Pharmaceutical to a “strong-buy” rating in a report on Monday, November 4th. Wolfe Research started coverage on shares of BioMarin Pharmaceutical in a research report on Friday, November 15th. They issued an “outperform” rating and a $95.00 price target on the stock. Robert W. Baird dropped their price objective on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Finally, Citigroup cut their target price on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $94.20.

Insider Transactions at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 5,278 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total transaction of $350,300.86. Following the sale, the executive vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.85% of the company’s stock.

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.