China Universal Asset Management Co. Ltd. Grows Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

China Universal Asset Management Co. Ltd. grew its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 10.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,784 shares of the biotechnology company’s stock after purchasing an additional 3,793 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in BioMarin Pharmaceutical were worth $2,681,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. nVerses Capital LLC acquired a new position in BioMarin Pharmaceutical during the 3rd quarter worth $28,000. TD Private Client Wealth LLC lifted its position in BioMarin Pharmaceutical by 57.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 186 shares during the last quarter. Meeder Asset Management Inc. increased its position in BioMarin Pharmaceutical by 920.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock valued at $52,000 after acquiring an additional 663 shares during the period. GAMMA Investing LLC raised its stake in shares of BioMarin Pharmaceutical by 56.1% during the third quarter. GAMMA Investing LLC now owns 782 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 281 shares in the last quarter. Finally, True Wealth Design LLC lifted its stake in shares of BioMarin Pharmaceutical by 13,400.0% in the 3rd quarter. True Wealth Design LLC now owns 810 shares of the biotechnology company’s stock worth $57,000 after acquiring an additional 804 shares during the period. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on BMRN. Evercore ISI decreased their target price on BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Barclays decreased their price objective on BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday, October 4th. Citigroup cut their target price on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. William Blair cut BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Finally, Wolfe Research assumed coverage on shares of BioMarin Pharmaceutical in a research note on Friday, November 15th. They issued an “outperform” rating and a $95.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $94.20.

Insider Buying and Selling

In related news, EVP Charles Greg Guyer sold 5,278 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total value of $350,300.86. Following the completion of the transaction, the executive vice president now directly owns 68,909 shares in the company, valued at approximately $4,573,490.33. The trade was a 7.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.85% of the stock is currently owned by insiders.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ:BMRN opened at $63.36 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27. The firm has a market cap of $12.08 billion, a PE ratio of 37.94, a price-to-earnings-growth ratio of 0.55 and a beta of 0.29. BioMarin Pharmaceutical Inc. has a twelve month low of $60.63 and a twelve month high of $94.85. The business has a fifty day moving average of $65.15 and a 200-day moving average of $72.99.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). The firm had revenue of $746.00 million for the quarter, compared to the consensus estimate of $703.37 million. BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The company’s revenue was up 28.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 EPS. On average, equities research analysts predict that BioMarin Pharmaceutical Inc. will post 2.5 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.