BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Purchased by AlphaQuest LLC

AlphaQuest LLC grew its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 137.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 10,311 shares of the biotechnology company’s stock after purchasing an additional 5,975 shares during the quarter. AlphaQuest LLC’s holdings in BioMarin Pharmaceutical were worth $678,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Edgestream Partners L.P. increased its holdings in shares of BioMarin Pharmaceutical by 407.7% during the fourth quarter. Edgestream Partners L.P. now owns 144,996 shares of the biotechnology company’s stock valued at $9,531,000 after acquiring an additional 116,434 shares in the last quarter. Callan Family Office LLC acquired a new position in BioMarin Pharmaceutical in the 4th quarter worth approximately $491,000. E Fund Management Co. Ltd. increased its holdings in BioMarin Pharmaceutical by 13.0% in the 4th quarter. E Fund Management Co. Ltd. now owns 14,462 shares of the biotechnology company’s stock worth $951,000 after buying an additional 1,666 shares during the period. Candriam S.C.A. increased its holdings in BioMarin Pharmaceutical by 77.2% in the 4th quarter. Candriam S.C.A. now owns 580,222 shares of the biotechnology company’s stock worth $38,138,000 after buying an additional 252,820 shares during the period. Finally, Inceptionr LLC acquired a new position in BioMarin Pharmaceutical in the 4th quarter worth approximately $2,236,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,344 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was 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 directly owns 13,105 shares of the company’s stock, valued at $896,119.90. This trade represents a 9.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.85% of the company’s stock.

Wall Street Analysts Forecast Growth

BMRN has been the topic of several research reports. UBS Group increased their price target on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Wolfe Research initiated coverage on shares of BioMarin Pharmaceutical in a report on Friday, November 15th. They issued an “outperform” rating and a $95.00 price target on the stock. Scotiabank increased their price target on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, February 20th. StockNews.com upgraded BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research report on Monday. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.00.

BioMarin Pharmaceutical Trading Down 2.1 %

Shares of BMRN stock opened at $70.49 on Wednesday. The stock’s fifty day moving average is $65.99 and its two-hundred day moving average is $69.08. 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 firm has a market capitalization of $13.45 billion, a P/E ratio of 32.04, a PEG ratio of 0.61 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a fifty-two week low of $60.63 and a fifty-two week high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced 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 company had revenue of $747.31 million for the quarter, compared to analyst estimates of $711.05 million. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. Research analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share 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.