BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Stake Boosted by AMI Asset Management Corp

AMI Asset Management Corp grew its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 51.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 346,189 shares of the biotechnology company’s stock after acquiring an additional 118,230 shares during the period. AMI Asset Management Corp owned 0.18% of BioMarin Pharmaceutical worth $30,236,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in BioMarin Pharmaceutical by 7,368.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 60,571 shares of the biotechnology company’s stock worth $5,840,000 after purchasing an additional 59,760 shares in the last quarter. International Assets Investment Management LLC bought a new stake in BioMarin Pharmaceutical in the fourth quarter worth $3,598,000. Nordea Investment Management AB boosted its holdings in BioMarin Pharmaceutical by 4.9% in the fourth quarter. Nordea Investment Management AB now owns 11,594 shares of the biotechnology company’s stock worth $1,121,000 after purchasing an additional 544 shares in the last quarter. ING Groep NV bought a new stake in BioMarin Pharmaceutical in the fourth quarter worth $20,248,000. Finally, Fisher Asset Management LLC bought a new stake in BioMarin Pharmaceutical in the fourth quarter worth $1,301,000. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP George Eric Davis sold 1,850 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $85.01, for a total transaction of $157,268.50. Following the sale, the executive vice president now directly owns 56,157 shares of the company’s stock, valued at $4,773,906.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Erin Burkhart sold 2,286 shares of the stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $90.00, for a total transaction of $205,740.00. Following the sale, the chief accounting officer now directly owns 16,156 shares of the company’s stock, valued at $1,454,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP George Eric Davis sold 1,850 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $85.01, for a total transaction of $157,268.50. Following the completion of the transaction, the executive vice president now directly owns 56,157 shares in the company, valued at $4,773,906.57. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,986 shares of company stock valued at $7,240,292. 1.85% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BMRN. Cantor Fitzgerald restated an “overweight” rating and set a $110.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, April 25th. Canaccord Genuity Group cut their price objective on shares of BioMarin Pharmaceutical from $91.00 to $89.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Wells Fargo & Company upped their price objective on shares of BioMarin Pharmaceutical from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Morgan Stanley cut their price objective on shares of BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating for the company in a research report on Friday, April 26th. Finally, Baird R W lowered shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 17th. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $106.37.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock traded down $1.25 during trading hours on Thursday, hitting $80.98. 613,844 shares of the stock were exchanged, compared to its average volume of 3,901,022. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.70 and a current ratio of 2.74. The stock has a market capitalization of $15.38 billion, a P/E ratio of 75.68, a P/E/G ratio of 1.17 and a beta of 0.32. BioMarin Pharmaceutical Inc. has a 12 month low of $73.68 and a 12 month high of $99.56. The business’s 50-day moving average is $80.82 and its two-hundred day moving average is $86.98.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.12. The firm had revenue of $648.83 million for the quarter, compared to analysts’ expectations of $649.75 million. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.34%. Equities research analysts expect that BioMarin Pharmaceutical Inc. will post 1.99 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.