BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 57.5% during the fourth quarter, Holdings Channel reports. The firm owned 1,232 shares of the biotechnology company’s stock after purchasing an additional 450 shares during the quarter. GAMMA Investing LLC’s holdings in BioMarin Pharmaceutical were worth $81,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Acadian Asset Management LLC boosted its holdings in BioMarin Pharmaceutical by 377.5% in the second quarter. Acadian Asset Management LLC now owns 12,113 shares of the biotechnology company’s stock valued at $994,000 after purchasing an additional 9,576 shares during the period. Texas Permanent School Fund Corp acquired a new stake in BioMarin Pharmaceutical in the 2nd quarter valued at about $2,194,000. Royal London Asset Management Ltd. boosted its stake in shares of BioMarin Pharmaceutical by 1.5% in the 2nd quarter. Royal London Asset Management Ltd. now owns 73,287 shares of the biotechnology company’s stock valued at $6,034,000 after buying an additional 1,090 shares during the period. Daiwa Securities Group Inc. grew its position in shares of BioMarin Pharmaceutical by 3.2% during the second quarter. Daiwa Securities Group Inc. now owns 16,821 shares of the biotechnology company’s stock worth $1,385,000 after buying an additional 514 shares in the last quarter. Finally, AGF Management Ltd. purchased a new stake in shares of BioMarin Pharmaceutical during the second quarter worth approximately $2,563,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Trading Down 1.5 %

Shares of BioMarin Pharmaceutical stock opened at $67.38 on Friday. The company’s fifty day moving average is $65.83 and its two-hundred day moving average is $75.04. BioMarin Pharmaceutical Inc. has a 1 year low of $61.15 and a 1 year high of $96.64. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27. The company has a market capitalization of $12.84 billion, a P/E ratio of 40.35, a PEG ratio of 0.65 and a beta of 0.29.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly 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). The company had revenue of $746.00 million for the quarter, compared to analysts’ expectations of $703.37 million. BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The business’s quarterly revenue was up 28.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.26 EPS. Analysts forecast that BioMarin Pharmaceutical Inc. will post 2.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Canaccord Genuity Group lowered their price target on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. Barclays decreased their price objective on shares of BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday, October 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, December 12th. Stifel Nicolaus cut their price target on BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Finally, Bank of America lowered their price objective on BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Seven 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’s stock. According to data from MarketBeat.com, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and an average target price of $94.20.

Insider Activity

In other news, EVP Charles Greg Guyer sold 5,278 shares of BioMarin Pharmaceutical 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 sale, the executive vice president now owns 68,909 shares of the company’s stock, valued at $4,573,490.33. The trade was a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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.