BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Acquired by M&T Bank Corp

M&T Bank Corp lifted its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 9.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 7,085 shares of the biotechnology company’s stock after purchasing an additional 616 shares during the period. M&T Bank Corp’s holdings in BioMarin Pharmaceutical were worth $466,000 at the end of the most recent reporting period.

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

BioMarin Pharmaceutical Stock Up 0.1 %

BMRN opened at $70.60 on Friday. The firm has a 50 day moving average price of $66.16 and a 200 day moving average price of $69.10. The company has a market cap of $13.47 billion, a PE ratio of 32.09, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a 1 year low of $60.63 and a 1 year high of $94.85. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33.

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 analysts’ consensus estimates of $0.54 by $0.18. The firm had revenue of $747.31 million during the quarter, compared to the consensus estimate of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. Sell-side analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,344 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $68.38, for a total value of $91,902.72. Following the completion of the sale, the chief accounting officer now owns 13,105 shares of the company’s stock, valued at $896,119.90. This trade represents a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on BMRN shares. Scotiabank upped their target price on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, February 20th. UBS Group upped their target price on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Piper Sandler upped their target price on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Citigroup upped their target price on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Finally, Wolfe Research started coverage on shares of BioMarin Pharmaceutical in a report on Friday, November 15th. They issued an “outperform” rating and a $95.00 target price on the stock. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $94.00.

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.