Integrated Advisors Network LLC Raises Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Integrated Advisors Network LLC increased its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 6.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,533 shares of the biotechnology company’s stock after purchasing an additional 206 shares during the quarter. Integrated Advisors Network LLC’s holdings in BioMarin Pharmaceutical were worth $341,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Capital Research Global Investors increased its position in shares of BioMarin Pharmaceutical by 79.0% during the fourth quarter. Capital Research Global Investors now owns 10,774,641 shares of the biotechnology company’s stock worth $1,038,907,000 after purchasing an additional 4,756,671 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in BioMarin Pharmaceutical by 5.6% during the third quarter. Ameriprise Financial Inc. now owns 5,163,949 shares of the biotechnology company’s stock worth $456,906,000 after buying an additional 275,436 shares during the last quarter. Avoro Capital Advisors LLC boosted its stake in BioMarin Pharmaceutical by 11.7% during the fourth quarter. Avoro Capital Advisors LLC now owns 4,300,000 shares of the biotechnology company’s stock worth $414,606,000 after buying an additional 450,000 shares during the last quarter. Norges Bank acquired a new position in BioMarin Pharmaceutical during the fourth quarter worth $324,098,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in BioMarin Pharmaceutical by 33.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,605,983 shares of the biotechnology company’s stock worth $154,850,000 after buying an additional 401,152 shares during the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, CFO Brian Mueller sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $75.19, for a total transaction of $375,950.00. Following the sale, the chief financial officer now owns 72,159 shares in the company, valued at approximately $5,425,635.21. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Brian Mueller sold 5,000 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $75.19, for a total value of $375,950.00. Following the transaction, the chief financial officer now owns 72,159 shares in the company, valued at approximately $5,425,635.21. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Erin Burkhart sold 2,286 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $90.00, for a total value of $205,740.00. Following the completion of the transaction, the chief accounting officer now owns 16,156 shares in the company, valued at approximately $1,454,040. The disclosure for this sale can be found here. Insiders have sold a total of 114,588 shares of company stock worth $9,413,633 in the last quarter. 1.85% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BMRN shares. Piper Sandler lowered their price objective on BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating on the stock in a research note on Friday, February 23rd. Scotiabank boosted their price objective on BioMarin Pharmaceutical from $83.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 25th. Wells Fargo & Company boosted their price objective on BioMarin Pharmaceutical from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Morgan Stanley decreased their price target on BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating on the stock in a research note on Friday, April 26th. Finally, Robert W. Baird lowered BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $104.00 to $72.00 in a research note on Friday, May 17th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $106.11.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN opened at $84.15 on Wednesday. The stock’s 50-day moving average is $82.40 and its two-hundred day moving average is $87.82. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.74 and a quick ratio of 1.70. BioMarin Pharmaceutical Inc. has a 1-year low of $73.68 and a 1-year high of $99.56. The company has a market cap of $15.98 billion, a price-to-earnings ratio of 78.65, a price-to-earnings-growth ratio of 1.19 and a beta of 0.32.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.12. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. The company had revenue of $648.83 million for the quarter, compared to the consensus estimate of $649.75 million. Analysts forecast that BioMarin Pharmaceutical Inc. will post 1.99 EPS for the current fiscal year.

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.