R Squared Ltd Buys New Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

R Squared Ltd purchased a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,840 shares of the biotechnology company’s stock, valued at approximately $121,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Erste Asset Management GmbH acquired a new position in BioMarin Pharmaceutical during the third quarter valued at $48,527,000. Assenagon Asset Management S.A. raised its stake in shares of BioMarin Pharmaceutical by 461.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company’s stock valued at $40,205,000 after buying an additional 502,695 shares during the last quarter. Vestal Point Capital LP acquired a new position in shares of BioMarin Pharmaceutical in the 3rd quarter valued at about $28,116,000. Clearline Capital LP purchased a new stake in shares of BioMarin Pharmaceutical in the third quarter worth about $22,477,000. Finally, Bellevue Group AG grew its holdings in BioMarin Pharmaceutical by 533.7% during the third quarter. Bellevue Group AG now owns 330,976 shares of the biotechnology company’s stock worth $23,264,000 after acquiring an additional 278,744 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BMRN has been the topic of several recent research reports. Citigroup lowered their price objective on BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Robert W. Baird dropped their price target on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Wolfe Research started coverage on shares of BioMarin Pharmaceutical in a research report on Friday, November 15th. They issued an “outperform” rating and a $95.00 price objective for the company. UBS Group raised their target price on BioMarin Pharmaceutical from $104.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group cut their price target on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and a consensus price target of $94.20.

BioMarin Pharmaceutical Price Performance

NASDAQ:BMRN opened at $63.88 on Friday. BioMarin Pharmaceutical Inc. has a one year low of $60.63 and a one year high of $94.85. The stock has a market cap of $12.17 billion, a PE ratio of 38.25, a P/E/G ratio of 0.54 and a beta of 0.29. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27. The stock has a 50 day moving average price of $65.16 and a 200 day moving average price of $73.20.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results 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 return on equity of 8.53% and a net margin of 11.71%. The company had revenue of $746.00 million for the quarter, compared to analysts’ expectations of $703.37 million. During the same quarter in the prior year, the firm earned $0.26 EPS. The firm’s revenue was up 28.4% on a year-over-year basis. Equities research analysts expect that BioMarin Pharmaceutical Inc. will post 2.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Charles Greg Guyer sold 5,278 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total transaction of $350,300.86. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.85% of the stock is owned by 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.