Wedmont Private Capital Makes New Investment in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Wedmont Private Capital acquired a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,376 shares of the biotechnology company’s stock, valued at approximately $430,000.

Other large investors have also recently added to or reduced their stakes in the company. Texas Permanent School Fund Corp purchased a new position in BioMarin Pharmaceutical during the second quarter worth approximately $2,194,000. BOKF NA acquired a new position in BioMarin Pharmaceutical in the second quarter valued at $31,000. Federated Hermes Inc. acquired a new position in BioMarin Pharmaceutical in the second quarter valued at $1,660,000. WINTON GROUP Ltd purchased a new stake in BioMarin Pharmaceutical during the second quarter valued at about $509,000. Finally, Dimensional Fund Advisors LP increased its stake in BioMarin Pharmaceutical by 38.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,034,457 shares of the biotechnology company’s stock worth $85,178,000 after acquiring an additional 289,953 shares during the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 5,278 shares of the business’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 completion of the sale, the executive vice president now owns 68,909 shares in the company, valued at $4,573,490.33. The trade was a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

Shares of BioMarin Pharmaceutical stock opened at $61.58 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27. BioMarin Pharmaceutical Inc. has a 1 year low of $61.15 and a 1 year high of $94.85. The firm’s 50-day simple moving average is $65.80 and its 200-day simple moving average is $74.72. The firm has a market cap of $11.74 billion, a PE ratio of 36.87, a price-to-earnings-growth ratio of 0.65 and a beta of 0.29.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.23). BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The firm had revenue of $746.00 million during the quarter, compared to the consensus estimate of $703.37 million. During the same period in the prior year, the firm earned $0.26 earnings per share. The firm’s quarterly revenue was up 28.4% compared to the same quarter last year. Equities analysts forecast that BioMarin Pharmaceutical Inc. will post 2.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BMRN. Raymond James reiterated an “outperform” rating and set a $79.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, October 10th. Wolfe Research started coverage on shares of BioMarin Pharmaceutical in a research note on Friday, November 15th. They set an “outperform” rating and a $95.00 price objective for the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $80.00 target price on shares of BioMarin Pharmaceutical in a research note on Wednesday, October 30th. Barclays decreased their price target 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. Finally, UBS Group raised their price objective on BioMarin Pharmaceutical from $104.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, sixteen 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 a consensus rating of “Moderate Buy” and a consensus target price of $94.20.

About BioMarin Pharmaceutical

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.