King Luther Capital Management Corp Acquires New Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

King Luther Capital Management Corp bought a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 3rd quarter, Holdings Channel.com reports. The firm bought 28,840 shares of the biotechnology company’s stock, valued at approximately $2,027,000.

A number of other institutional investors have also recently made changes to their positions in BMRN. Acadian Asset Management LLC boosted its holdings in BioMarin Pharmaceutical by 32.7% in the first quarter. Acadian Asset Management LLC now owns 2,537 shares of the biotechnology company’s stock valued at $221,000 after acquiring an additional 625 shares during the last quarter. UniSuper Management Pty Ltd increased its position in shares of BioMarin Pharmaceutical by 107.7% during the first quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the biotechnology company’s stock worth $236,000 after buying an additional 1,400 shares during the period. Advisors Asset Management Inc. raised its stake in BioMarin Pharmaceutical by 13.6% during the first quarter. Advisors Asset Management Inc. now owns 10,382 shares of the biotechnology company’s stock worth $907,000 after buying an additional 1,240 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in BioMarin Pharmaceutical by 12.6% in the first quarter. Canada Pension Plan Investment Board now owns 312,638 shares of the biotechnology company’s stock valued at $27,306,000 after buying an additional 34,867 shares during the period. Finally, Motley Fool Asset Management LLC boosted its position in BioMarin Pharmaceutical by 6.3% during the first quarter. Motley Fool Asset Management LLC now owns 46,915 shares of the biotechnology company’s stock valued at $4,098,000 after acquiring an additional 2,792 shares during the last quarter. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

NASDAQ BMRN opened at $64.26 on Friday. BioMarin Pharmaceutical Inc. has a 1 year low of $61.15 and a 1 year high of $99.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62. The firm has a market cap of $12.25 billion, a price-to-earnings ratio of 38.48, a PEG ratio of 0.61 and a beta of 0.31. The company has a fifty day moving average price of $68.25 and a 200-day moving average price of $78.47.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The firm had revenue of $746.00 million during the quarter, compared to the consensus estimate of $703.37 million. During the same period in the previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was up 28.4% on a year-over-year basis. As a group, equities research analysts predict that BioMarin Pharmaceutical Inc. will post 2.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. William Blair lowered BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. TD Cowen lowered their target price on BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Canaccord Genuity Group cut their price target on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Wolfe Research initiated coverage on shares of BioMarin Pharmaceutical in a research note on Friday, November 15th. They issued an “outperform” rating and a $95.00 price objective for the company. Finally, Robert W. Baird cut their target price on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $94.20.

Insider Activity

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 5,278 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 68,909 shares of the company’s stock, valued at approximately $4,573,490.33. The trade was a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.85% of the stock is currently owned by corporate insiders.

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.