Vanguard Group Inc. Purchases 348,852 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Vanguard Group Inc. raised its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 2.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 18,050,062 shares of the biotechnology company’s stock after acquiring an additional 348,852 shares during the period. Vanguard Group Inc. owned about 9.57% of BioMarin Pharmaceutical worth $1,740,387,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of BMRN. Capital Research Global Investors increased its position in shares of BioMarin Pharmaceutical by 79.0% during the 4th quarter. Capital Research Global Investors now owns 10,774,641 shares of the biotechnology company’s stock worth $1,038,907,000 after purchasing an additional 4,756,671 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of BioMarin Pharmaceutical by 5.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,163,949 shares of the biotechnology company’s stock worth $456,906,000 after purchasing an additional 275,436 shares during the last quarter. Avoro Capital Advisors LLC increased its position in shares of BioMarin Pharmaceutical by 11.7% during the 4th quarter. Avoro Capital Advisors LLC now owns 4,300,000 shares of the biotechnology company’s stock worth $414,606,000 after purchasing an additional 450,000 shares during the last quarter. Norges Bank acquired a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $324,098,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of BioMarin Pharmaceutical by 33.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,605,983 shares of the biotechnology company’s stock worth $154,850,000 after purchasing an additional 401,152 shares during the last quarter. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

BMRN opened at $84.15 on Wednesday. The business has a fifty day simple moving average of $82.40 and a 200 day simple moving average of $87.82. The company has a market capitalization of $15.98 billion, a PE ratio of 78.65, a price-to-earnings-growth ratio of 1.19 and a beta of 0.32. BioMarin Pharmaceutical Inc. has a 1 year low of $73.68 and a 1 year high of $99.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.74 and a quick ratio of 1.70.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Wednesday, April 24th. The biotechnology company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.12. The firm had revenue of $648.83 million during the quarter, compared to the consensus estimate of $649.75 million. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. Research analysts expect that BioMarin Pharmaceutical Inc. will post 1.99 EPS for the current year.

Insider Activity

In other news, CFO Brian Mueller sold 5,000 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $75.19, for a total transaction of $375,950.00. Following the completion of the sale, the chief financial officer now directly owns 72,159 shares in the company, valued at approximately $5,425,635.21. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Brian Mueller sold 5,000 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $75.19, for a total transaction of $375,950.00. Following the completion of the sale, the chief financial officer now directly owns 72,159 shares in the company, valued at approximately $5,425,635.21. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP George Eric Davis sold 40,850 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $74.51, for a total value of $3,043,733.50. Following the sale, the executive vice president now owns 56,157 shares of the company’s stock, valued at $4,184,258.07. The disclosure for this sale can be found here. In the last three months, insiders sold 114,588 shares of company stock worth $9,413,633. 1.85% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

BMRN has been the topic of several recent analyst reports. Citigroup lowered their price target on BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Piper Sandler decreased their target price on BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Evercore ISI assumed coverage on BioMarin Pharmaceutical in a report on Tuesday, May 14th. They set an “outperform” rating and a $113.00 target price on the stock. Robert W. Baird lowered BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $104.00 to $72.00 in a report on Friday, May 17th. Finally, Scotiabank boosted their target price on BioMarin Pharmaceutical from $83.00 to $85.00 and gave the stock a “sector perform” rating in a report on Thursday, April 25th. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.11.

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.