Ieq Capital LLC Raises Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Ieq Capital LLC increased its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 744.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 60,287 shares of the biotechnology company’s stock after buying an additional 53,151 shares during the period. Ieq Capital LLC’s holdings in BioMarin Pharmaceutical were worth $3,963,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in BMRN. TD Private Client Wealth LLC raised its position in shares of BioMarin Pharmaceutical by 57.4% in the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after buying an additional 186 shares in the last quarter. Meeder Asset Management Inc. raised its position in shares of BioMarin Pharmaceutical by 920.8% in the third quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock worth $52,000 after buying an additional 663 shares in the last quarter. True Wealth Design LLC raised its position in BioMarin Pharmaceutical by 13,400.0% during the third 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 in the last quarter. Blue Trust Inc. raised its position in BioMarin Pharmaceutical by 504.9% during the third quarter. Blue Trust Inc. now owns 859 shares of the biotechnology company’s stock valued at $60,000 after purchasing an additional 717 shares in the last quarter. Finally, UMB Bank n.a. raised its position in BioMarin Pharmaceutical by 260.1% during the fourth quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company’s stock valued at $67,000 after purchasing an additional 736 shares in the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Down 0.7 %

Shares of NASDAQ:BMRN opened at $68.25 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 market cap of $13.01 billion, a PE ratio of 31.02, a P/E/G ratio of 0.58 and a beta of 0.28. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62. The stock’s 50-day moving average is $64.84 and its 200 day moving average is $71.05.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.18. BioMarin Pharmaceutical had a return on equity of 10.10% and a net margin of 14.96%. The company had revenue of $747.31 million for the quarter, compared to the consensus estimate of $711.05 million. Sell-side analysts anticipate that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BMRN shares. Evercore ISI lowered their price target on BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Wedbush restated an “outperform” rating and set a $94.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday. StockNews.com upgraded BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research report on Saturday. UBS Group raised their price target on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $93.81.

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.