BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC lifted its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 57.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,232 shares of the biotechnology company’s stock after acquiring an additional 450 shares during the period. GAMMA Investing LLC’s holdings in BioMarin Pharmaceutical were worth $81,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. AGF Management Ltd. acquired a new position in BioMarin Pharmaceutical in the 2nd quarter worth approximately $2,563,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of BioMarin Pharmaceutical in the second quarter worth $5,627,000. Teachers Retirement System of The State of Kentucky lifted its position in BioMarin Pharmaceutical by 17.4% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 194,207 shares of the biotechnology company’s stock valued at $15,990,000 after purchasing an additional 28,837 shares during the period. E Fund Management Co. Ltd. boosted its holdings in BioMarin Pharmaceutical by 167.4% in the second quarter. E Fund Management Co. Ltd. now owns 13,480 shares of the biotechnology company’s stock valued at $1,110,000 after purchasing an additional 8,438 shares during the last quarter. Finally, EULAV Asset Management raised its stake in shares of BioMarin Pharmaceutical by 12.9% during the 3rd quarter. EULAV Asset Management now owns 131,000 shares of the biotechnology company’s stock valued at $9,208,000 after buying an additional 15,000 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $67.38 on Friday. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The stock has a market cap of $12.84 billion, a P/E ratio of 40.35, a PEG ratio of 0.65 and a beta of 0.29. The company has a 50-day moving average price of $65.83 and a 200 day moving average price of $75.04. BioMarin Pharmaceutical Inc. has a 12-month low of $61.15 and a 12-month high of $96.64.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The business had revenue of $746.00 million during the quarter, compared to analysts’ expectations of $703.37 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s revenue was up 28.4% on a year-over-year basis. Sell-side analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.49 earnings per share for the current year.

Insider Transactions at BioMarin Pharmaceutical

In related news, EVP Charles Greg Guyer sold 5,278 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total transaction of $350,300.86. Following the completion of the transaction, the executive vice president now owns 68,909 shares of the company’s stock, valued at approximately $4,573,490.33. This trade represents a 7.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BMRN. Bank of America lowered their target price on BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. JPMorgan Chase & Co. cut their target price on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Truist Financial decreased their target price on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Barclays dropped their price target on shares of BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, December 12th. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $94.20.

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.