BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Position Lifted by Meeder Asset Management Inc.

Meeder Asset Management Inc. grew its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 920.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 735 shares of the biotechnology company’s stock after purchasing an additional 663 shares during the period. Meeder Asset Management Inc.’s holdings in BioMarin Pharmaceutical were worth $52,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Acadian Asset Management LLC increased its holdings in shares of BioMarin Pharmaceutical by 32.7% in the 1st quarter. Acadian Asset Management LLC now owns 2,537 shares of the biotechnology company’s stock worth $221,000 after acquiring an additional 625 shares during the period. UniSuper Management Pty Ltd boosted its position in shares of BioMarin Pharmaceutical by 107.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the biotechnology company’s stock valued at $236,000 after purchasing an additional 1,400 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of BioMarin Pharmaceutical during the 1st quarter valued at about $106,000. Advisors Asset Management Inc. boosted its position in shares of BioMarin Pharmaceutical by 13.6% during the 1st quarter. Advisors Asset Management Inc. now owns 10,382 shares of the biotechnology company’s stock valued at $907,000 after purchasing an additional 1,240 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of BioMarin Pharmaceutical by 12.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 312,638 shares of the biotechnology company’s stock valued at $27,306,000 after purchasing an additional 34,867 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, EVP Charles Greg Guyer sold 5,278 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total value of $350,300.86. Following the transaction, the executive vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Trading Up 1.0 %

Shares of BioMarin Pharmaceutical stock opened at $62.56 on Thursday. The business has a fifty day simple moving average of $69.08 and a two-hundred day simple moving average of $78.70. BioMarin Pharmaceutical Inc. has a 1 year low of $61.15 and a 1 year high of $99.56. The company has a market capitalization of $11.92 billion, a price-to-earnings ratio of 37.46, a P/E/G ratio of 0.63 and a beta of 0.31. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The firm had revenue of $746.00 million for the quarter, compared to analyst estimates of $703.37 million. During the same period in the prior year, the business posted $0.26 EPS. The firm’s quarterly revenue was up 28.4% compared to the same quarter last year. Research analysts forecast that BioMarin Pharmaceutical Inc. will post 2.47 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on BMRN. Cantor Fitzgerald decreased their target price on shares of BioMarin Pharmaceutical from $110.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Wedbush upgraded shares of BioMarin Pharmaceutical to a “strong-buy” rating in a report on Monday, November 4th. Raymond James restated an “outperform” rating and set a $79.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, October 10th. Bank of America decreased their price target on shares of BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Finally, StockNews.com upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.