Daiwa Securities Group Inc. Raises Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Daiwa Securities Group Inc. raised its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 25.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,615 shares of the biotechnology company’s stock after purchasing an additional 4,609 shares during the period. Daiwa Securities Group Inc.’s holdings in BioMarin Pharmaceutical were worth $1,487,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. TD Private Client Wealth LLC raised its stake in BioMarin Pharmaceutical by 57.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 186 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth about $36,000. Meeder Asset Management Inc. increased its position in shares of BioMarin Pharmaceutical by 920.8% during the third quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 663 shares in the last quarter. True Wealth Design LLC lifted its holdings 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 valued at $57,000 after purchasing an additional 804 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of BioMarin Pharmaceutical by 111.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company’s stock valued at $58,000 after purchasing an additional 466 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Erin Burkhart sold 1,344 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $68.38, for a total transaction of $91,902.72. Following the transaction, the chief accounting officer now owns 13,105 shares of the company’s stock, valued at approximately $896,119.90. This represents a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.85% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Piper Sandler lifted their price objective on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. StockNews.com upgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research report on Monday, March 10th. Bank of America raised their target price on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, Wolfe Research initiated coverage on shares of BioMarin Pharmaceutical in a research note on Friday, November 15th. They set an “outperform” rating and a $95.00 price target on the stock. Seven investment 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $94.00.

BioMarin Pharmaceutical Trading Down 1.6 %

Shares of BioMarin Pharmaceutical stock opened at $69.44 on Friday. BioMarin Pharmaceutical Inc. has a 1 year low of $60.63 and a 1 year high of $94.85. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. The business has a 50 day moving average price of $66.22 and a 200 day moving average price of $68.96. The company has a market capitalization of $13.25 billion, a P/E ratio of 31.56, a P/E/G ratio of 0.61 and a beta of 0.33.

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