Empowered Funds LLC Purchases New Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Empowered Funds LLC purchased a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 3,911 shares of the biotechnology company’s stock, valued at approximately $257,000.

Several other hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp boosted its holdings in BioMarin Pharmaceutical by 13.9% in the fourth quarter. Fifth Third Bancorp now owns 1,351 shares of the biotechnology company’s stock valued at $89,000 after acquiring an additional 165 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in BioMarin Pharmaceutical by 0.8% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,105 shares of the biotechnology company’s stock worth $1,483,000 after buying an additional 173 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings 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 buying an additional 180 shares during the last quarter. TD Private Client Wealth LLC boosted its holdings in BioMarin Pharmaceutical by 57.4% during the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after buying an additional 186 shares during the last quarter. Finally, First Hawaiian Bank boosted its holdings in BioMarin Pharmaceutical by 1.4% during the fourth quarter. First Hawaiian Bank now owns 14,700 shares of the biotechnology company’s stock worth $966,000 after buying an additional 200 shares during the last quarter. Institutional investors own 98.71% of the company’s stock.

Analyst Upgrades and Downgrades

BMRN has been the topic of a number of recent analyst reports. StockNews.com upgraded BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a report on Saturday. Citigroup lifted their target price on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a “neutral” rating in a research report on Thursday. Wolfe Research began coverage on BioMarin Pharmaceutical in a research report on Friday, November 15th. They issued an “outperform” rating and a $95.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday. Seven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average price target of $93.81.

BioMarin Pharmaceutical Stock Performance

BMRN opened at $68.25 on Friday. The business has a fifty day simple moving average of $64.84 and a 200 day simple moving average of $71.05. The company has a market capitalization of $13.01 billion, a PE ratio of 31.02, a price-to-earnings-growth ratio of 0.58 and a beta of 0.28. BioMarin Pharmaceutical Inc. has a 1 year low of $60.63 and a 1 year high of $94.85. 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 released its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.18. The firm had revenue of $747.31 million during the quarter, compared to the consensus estimate of $711.05 million. BioMarin Pharmaceutical had a return on equity of 10.10% and a net margin of 14.96%. Research analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current 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.