Natixis Advisors LLC Purchases Shares of 19,738 BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Natixis Advisors LLC acquired a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 19,738 shares of the biotechnology company’s stock, valued at approximately $1,297,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in BioMarin Pharmaceutical by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,260,050 shares of the biotechnology company’s stock worth $228,632,000 after acquiring an additional 60,692 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of BioMarin Pharmaceutical by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,423,508 shares of the biotechnology company’s stock valued at $93,567,000 after purchasing an additional 21,880 shares in the last quarter. abrdn plc raised its stake in shares of BioMarin Pharmaceutical by 31.9% during the fourth quarter. abrdn plc now owns 695,802 shares of the biotechnology company’s stock valued at $45,735,000 after purchasing an additional 168,121 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in BioMarin Pharmaceutical in the third quarter worth about $48,527,000. Finally, Assenagon Asset Management S.A. grew its position in BioMarin Pharmaceutical by 461.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company’s stock valued at $40,205,000 after buying an additional 502,695 shares in the last quarter. 98.71% of the stock is owned by institutional investors.

BioMarin Pharmaceutical Stock Down 0.6 %

Shares of NASDAQ:BMRN opened at $71.53 on Wednesday. The firm has a 50 day simple moving average of $66.83 and a 200 day simple moving average of $67.78. BioMarin Pharmaceutical Inc. has a 52 week low of $60.63 and a 52 week 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. The company has a market cap of $13.65 billion, a PE ratio of 32.51, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.18. The company had revenue of $747.31 million during 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%. As a group, research analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,295 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total value of $92,618.40. Following the transaction, the chief accounting officer now owns 16,955 shares in the company, valued at approximately $1,212,621.60. This represents a 7.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.85% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Citigroup boosted their price target on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Oppenheimer raised BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 target price on the stock in a report on Monday, February 24th. Scotiabank increased their price target on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, February 20th. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Finally, Wedbush reaffirmed an “outperform” rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.00.

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.