Connor Clark & Lunn Investment Management Ltd. Buys Shares of 116,257 BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 116,257 shares of the biotechnology company’s stock, valued at approximately $8,172,000.

Other large investors also recently modified their holdings of the company. AGF Management Ltd. bought a new position in BioMarin Pharmaceutical during the 2nd quarter worth $2,563,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter valued at $5,627,000. Teachers Retirement System of The State of Kentucky raised its holdings in shares of BioMarin Pharmaceutical by 17.4% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 194,207 shares of the biotechnology company’s stock valued at $15,990,000 after purchasing an additional 28,837 shares during the period. E Fund Management Co. Ltd. boosted its holdings in BioMarin Pharmaceutical by 167.4% in the second quarter. E Fund Management Co. Ltd. now owns 13,480 shares of the biotechnology company’s stock worth $1,110,000 after acquiring an additional 8,438 shares in the last quarter. Finally, Tidal Investments LLC grew its position in BioMarin Pharmaceutical by 65.5% in the 1st quarter. Tidal Investments LLC now owns 17,447 shares of the biotechnology company’s stock valued at $1,524,000 after purchasing an additional 6,906 shares during the period. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Stock Up 1.3 %

BMRN opened at $64.26 on Friday. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 12 month low of $61.15 and a 12 month high of $99.56. The business’s 50-day moving average price is $68.25 and its 200-day moving average price is $78.47. The company has a market cap of $12.25 billion, a P/E ratio of 38.48, a P/E/G ratio of 0.61 and a beta of 0.31.

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. cut their target price on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. TD Cowen reduced their price objective on BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Cantor Fitzgerald reduced their target price on shares of BioMarin Pharmaceutical from $110.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. William Blair cut BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Finally, Raymond James reaffirmed an “outperform” rating and set a $79.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, October 10th. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average price target of $94.20.

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 5,278 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total value of $350,300.86. Following the completion of the sale, the executive vice president now directly owns 68,909 shares in the company, valued at $4,573,490.33. This trade represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.85% of the stock is currently owned by company insiders.

About BioMarin Pharmaceutical

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.