Smartleaf Asset Management LLC Increases Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Smartleaf Asset Management LLC lifted its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 111.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 885 shares of the biotechnology company’s stock after acquiring an additional 466 shares during the period. Smartleaf Asset Management LLC’s holdings in BioMarin Pharmaceutical were worth $58,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Merit Financial Group LLC purchased a new position in BioMarin Pharmaceutical in the 4th quarter valued at $317,000. Assenagon Asset Management S.A. grew its position in BioMarin Pharmaceutical by 461.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company’s stock valued at $40,205,000 after buying an additional 502,695 shares during the last quarter. Wedmont Private Capital purchased a new position in BioMarin Pharmaceutical in the 4th quarter valued at $430,000. Swedbank AB grew its position in BioMarin Pharmaceutical by 11.2% in the 4th quarter. Swedbank AB now owns 432,122 shares of the biotechnology company’s stock valued at $28,403,000 after buying an additional 43,593 shares during the last quarter. Finally, EULAV Asset Management grew its position in BioMarin Pharmaceutical by 12.9% in 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. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Erin Burkhart sold 1,344 shares of the 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 sale, the chief accounting officer now owns 13,105 shares of the company’s stock, valued at $896,119.90. This represents a 9.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $72.03 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33. The company has a market cap of $13.74 billion, a price-to-earnings ratio of 32.74, a PEG ratio of 0.61 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a 1 year low of $60.63 and a 1 year high of $94.85. The firm has a 50 day moving average price of $65.89 and a 200 day moving average price of $69.21.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.18. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. The business had revenue of $747.31 million for the quarter, compared to analyst estimates of $711.05 million. Sell-side analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Wall Street Analyst Weigh In

BMRN has been the subject of a number of recent analyst reports. Piper Sandler raised their target price on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Wedbush reissued an “outperform” rating and issued a $94.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Bank of America raised their target price on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Finally, Oppenheimer raised BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 target price for the company in a report on Monday, February 24th. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $94.00.

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.