PDT Partners LLC Invests $2.32 Million in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

PDT Partners LLC bought a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 33,028 shares of the biotechnology company’s stock, valued at approximately $2,322,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of BMRN. Quent Capital LLC boosted its holdings in shares of BioMarin Pharmaceutical by 58.9% during the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 145 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in BioMarin Pharmaceutical by 0.8% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,105 shares of the biotechnology company’s stock valued at $1,483,000 after buying an additional 173 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in BioMarin Pharmaceutical by 1.6% during the third quarter. Advisors Asset Management Inc. now owns 11,451 shares of the biotechnology company’s stock valued at $805,000 after buying an additional 180 shares during the last quarter. Voisard Asset Management Group Inc. grew its holdings in BioMarin Pharmaceutical by 17.8% during the 3rd quarter. Voisard Asset Management Group Inc. now owns 1,355 shares of the biotechnology company’s stock valued at $95,000 after buying an additional 205 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in BioMarin Pharmaceutical by 56.1% in the 3rd quarter. GAMMA Investing LLC now owns 782 shares of the biotechnology company’s stock worth $55,000 after acquiring an additional 281 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Analyst Ratings Changes

BMRN has been the subject of a number of research reports. JPMorgan Chase & Co. lowered their target price on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Wolfe Research initiated coverage on shares of BioMarin Pharmaceutical in a research report on Friday, November 15th. They set an “outperform” rating and a $95.00 price objective for the company. Bank of America dropped their price objective on shares of BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Barclays decreased their target price on shares of BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. Finally, Scotiabank dropped their price target on BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating for the company in a research report on Tuesday, September 17th. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.20.

BioMarin Pharmaceutical Stock Up 0.9 %

Shares of BMRN opened at $66.03 on Friday. The firm has a market capitalization of $12.58 billion, a P/E ratio of 39.54, a P/E/G ratio of 0.64 and a beta of 0.31. BioMarin Pharmaceutical Inc. has a 12-month low of $61.15 and a 12-month high of $99.56. The firm has a fifty day moving average price of $67.72 and a 200-day moving average price of $77.90. 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 (NASDAQ:BMRN) last issued its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 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 company had revenue of $746.00 million during the quarter, compared to the consensus estimate of $703.37 million. During the same quarter in the prior year, the company earned $0.26 earnings per share. BioMarin Pharmaceutical’s revenue was up 28.4% on a year-over-year basis. Equities research analysts expect that BioMarin Pharmaceutical Inc. will post 2.49 earnings per share for the current year.

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.