Avantax Advisory Services Inc. Boosts Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Avantax Advisory Services Inc. raised its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 37.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,950 shares of the biotechnology company’s stock after acquiring an additional 1,630 shares during the period. Avantax Advisory Services Inc.’s holdings in BioMarin Pharmaceutical were worth $391,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Oregon Public Employees Retirement Fund lifted its holdings in shares of BioMarin Pharmaceutical by 0.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 38,738 shares of the biotechnology company’s stock worth $2,546,000 after acquiring an additional 164 shares during the last quarter. Fifth Third Bancorp raised its position in BioMarin Pharmaceutical by 13.9% during the fourth quarter. Fifth Third Bancorp now owns 1,351 shares of the biotechnology company’s stock valued at $89,000 after purchasing an additional 165 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in BioMarin Pharmaceutical by 1.6% during the third quarter. Advisors Asset Management Inc. now owns 11,451 shares of the biotechnology company’s stock worth $805,000 after purchasing an additional 180 shares during the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of BioMarin Pharmaceutical by 57.4% in 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 in the last quarter. Finally, First Hawaiian Bank increased its position in shares of BioMarin Pharmaceutical by 1.4% during the 4th quarter. First Hawaiian Bank now owns 14,700 shares of the biotechnology company’s stock valued at $966,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Insider Transactions at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,295 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total transaction of $92,618.40. Following the completion of the transaction, the chief accounting officer now owns 16,955 shares of the company’s stock, valued at $1,212,621.60. This trade represents a 7.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.85% of the company’s stock.

Analyst Upgrades and Downgrades

BMRN has been the subject of a number of recent research reports. Citigroup boosted their target price on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. StockNews.com raised shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 18th. Bank of America boosted their price target on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, Piper Sandler raised their price objective on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average price target of $94.00.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $71.99 on Tuesday. BioMarin Pharmaceutical Inc. has a one year low of $60.63 and a one year high of $94.85. The company has a 50-day simple moving average of $66.68 and a two-hundred day simple moving average of $67.87. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. The firm has a market capitalization of $13.73 billion, a PE ratio of 32.72, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.18. The company had revenue of $747.31 million for the quarter, compared to analyst estimates of $711.05 million. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. On average, analysts anticipate that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.

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.