D.A. Davidson & CO. Acquires New Shares in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

D.A. Davidson & CO. acquired a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,534 shares of the biotechnology company’s stock, valued at approximately $495,000.

Other institutional investors also recently bought and sold shares of the company. Merit Financial Group LLC bought a new position in BioMarin Pharmaceutical in the fourth quarter valued at about $317,000. Assenagon Asset Management S.A. raised its stake in shares of BioMarin Pharmaceutical by 461.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company’s stock worth $40,205,000 after buying an additional 502,695 shares during the period. Wedmont Private Capital bought a new position in shares of BioMarin Pharmaceutical in the fourth quarter worth about $430,000. Swedbank AB raised its stake in shares of BioMarin Pharmaceutical by 11.2% in the fourth quarter. Swedbank AB now owns 432,122 shares of the biotechnology company’s stock worth $28,403,000 after buying an additional 43,593 shares during the period. Finally, EULAV Asset Management raised its stake in shares of BioMarin Pharmaceutical by 12.9% in the third quarter. EULAV Asset Management now owns 131,000 shares of the biotechnology company’s stock worth $9,208,000 after buying an additional 15,000 shares during the period. Institutional investors own 98.71% of the company’s stock.

Insider Buying and Selling

In other news, CAO Erin Burkhart sold 1,344 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $68.38, for a total value of $91,902.72. Following the completion of the transaction, the chief accounting officer now directly owns 13,105 shares in the company, valued at approximately $896,119.90. This represents a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.85% of the stock is currently owned by company insiders.

BioMarin Pharmaceutical Stock Up 3.1 %

Shares of NASDAQ BMRN opened at $71.17 on Wednesday. BioMarin Pharmaceutical Inc. has a 12-month low of $60.63 and a 12-month high of $94.85. The company has a market capitalization of $13.56 billion, a PE ratio of 32.35, a price-to-earnings-growth ratio of 0.61 and a beta of 0.28. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. The firm’s 50-day moving average is $65.03 and its two-hundred day moving average is $70.48.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data 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 business had revenue of $747.31 million during the quarter, compared to analyst estimates of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. Equities analysts anticipate that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Scotiabank lifted their target price 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. Wolfe Research assumed coverage on BioMarin Pharmaceutical in a research note on Friday, November 15th. They set an “outperform” rating and a $95.00 target price on the stock. JPMorgan Chase & Co. decreased their target price on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Finally, Wedbush reissued an “outperform” rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $94.00.

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.