BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Purchased by Edmond DE Rothschild Holding S.A.

Edmond DE Rothschild Holding S.A. raised its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 36.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 563,530 shares of the biotechnology company’s stock after purchasing an additional 150,303 shares during the period. Edmond DE Rothschild Holding S.A. owned about 0.30% of BioMarin Pharmaceutical worth $37,041,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BMRN. Vanguard Group Inc. raised its holdings in BioMarin Pharmaceutical by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 19,372,185 shares of the biotechnology company’s stock valued at $1,273,334,000 after acquiring an additional 93,531 shares in the last quarter. Norges Bank bought a new stake in shares of BioMarin Pharmaceutical in the 4th quarter worth about $234,645,000. Geode Capital Management LLC lifted its position in shares of BioMarin Pharmaceutical by 1.9% during the third quarter. Geode Capital Management LLC now owns 3,260,050 shares of the biotechnology company’s stock worth $228,632,000 after purchasing an additional 60,692 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of BioMarin Pharmaceutical by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,423,508 shares of the biotechnology company’s stock worth $93,567,000 after purchasing an additional 21,880 shares during the last quarter. Finally, abrdn plc grew its stake in BioMarin Pharmaceutical by 31.9% in the fourth quarter. abrdn plc now owns 695,802 shares of the biotechnology company’s stock worth $45,735,000 after purchasing an additional 168,121 shares in the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Erin Burkhart sold 1,295 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total transaction of $92,618.40. Following the completion of the sale, the chief accounting officer now directly owns 16,955 shares in the company, valued at approximately $1,212,621.60. This trade represents a 7.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.85% of the company’s stock.

Analyst Upgrades and Downgrades

BMRN has been the topic of a number of research analyst reports. Scotiabank increased their target price on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, February 20th. Bank of America lifted their price objective on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. StockNews.com raised shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 18th. Oppenheimer upgraded shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price target on the stock in a research report on Monday, February 24th. Finally, Piper Sandler increased their price objective on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $94.00.

BioMarin Pharmaceutical Stock Performance

BMRN opened at $71.44 on Monday. BioMarin Pharmaceutical Inc. has a 1-year low of $60.63 and a 1-year high of $94.85. The company has a market capitalization of $13.63 billion, a price-to-earnings ratio of 32.47, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33. The business has a 50 day moving average price of $67.46 and a two-hundred day moving average price of $67.51. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $711.05 million. Research analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal 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.