Xponance Inc. Increases Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Xponance Inc. lifted its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 7.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 31,675 shares of the biotechnology company’s stock after purchasing an additional 2,247 shares during the period. Xponance Inc.’s holdings in BioMarin Pharmaceutical were worth $2,082,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. TD Private Client Wealth LLC lifted its position in BioMarin Pharmaceutical by 57.4% during the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 186 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in BioMarin Pharmaceutical during the fourth quarter valued at approximately $36,000. True Wealth Design LLC lifted 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 acquiring an additional 804 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in BioMarin Pharmaceutical by 111.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company’s stock valued at $58,000 after acquiring an additional 466 shares during the last quarter. Finally, UMB Bank n.a. lifted 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 acquiring an additional 736 shares during the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Down 0.5 %

BMRN stock opened at $71.24 on Friday. The firm’s fifty day moving average is $66.58 and its 200 day moving average is $68.28. BioMarin Pharmaceutical Inc. has a one year low of $60.63 and a one year high of $94.85. The firm has a market cap of $13.59 billion, a PE ratio of 32.38, a P/E/G ratio of 0.61 and a beta of 0.33. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.18. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. The business had revenue of $747.31 million for the quarter, compared to analyst estimates of $711.05 million. On average, research analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BMRN shares. UBS Group increased their target price on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. StockNews.com raised shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Oppenheimer raised shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price target for the company in a report on Monday, February 24th. Citigroup raised their price target on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Finally, Bank of America raised their price target on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $94.00.

Insider Activity

In other news, CAO Erin Burkhart sold 1,344 shares of BioMarin Pharmaceutical stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $68.38, for a total value of $91,902.72. Following the sale, the chief accounting officer now owns 13,105 shares in the company, valued at $896,119.90. This trade represents a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.85% of the company’s stock.

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.