United Capital Financial Advisors LLC Makes New Investment in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

United Capital Financial Advisors LLC purchased a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,995 shares of the biotechnology company’s stock, valued at approximately $263,000.

A number of other institutional investors and hedge funds have also made changes to their positions in BMRN. Vanguard Group Inc. grew its holdings in shares of BioMarin Pharmaceutical by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 19,372,185 shares of the biotechnology company’s stock valued at $1,273,334,000 after purchasing an additional 93,531 shares in the last quarter. Dodge & Cox grew its stake in shares of BioMarin Pharmaceutical by 6.1% in the fourth quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company’s stock worth $969,270,000 after acquiring an additional 847,917 shares in the last quarter. Norges Bank purchased a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth $234,645,000. Geode Capital Management LLC raised its stake in shares of BioMarin Pharmaceutical by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 3,288,778 shares of the biotechnology company’s stock valued at $215,784,000 after acquiring an additional 28,728 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in BioMarin Pharmaceutical by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,423,508 shares of the biotechnology company’s stock worth $93,567,000 after purchasing an additional 21,880 shares in the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Oppenheimer upgraded shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price objective on the stock in a report on Monday, February 24th. StockNews.com cut BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 17th. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Bank of America increased their price target on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, Scotiabank upped their target price on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and an average price target of $94.00.

Insider Activity

In other news, CAO Erin Burkhart sold 1,344 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $68.38, for a total transaction of $91,902.72. Following the completion of the sale, the chief accounting officer now owns 13,105 shares in the company, valued at approximately $896,119.90. This trade represents a 9.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.85% of the stock is owned by corporate insiders.

BioMarin Pharmaceutical Stock Performance

Shares of BioMarin Pharmaceutical stock opened at $58.65 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. The firm has a 50 day simple moving average of $66.59 and a 200 day simple moving average of $66.16. BioMarin Pharmaceutical Inc. has a fifty-two week low of $52.93 and a fifty-two week high of $94.85. The firm has a market cap of $11.19 billion, a P/E ratio of 26.66, a P/E/G ratio of 0.61 and a beta of 0.30.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, topping 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 company had revenue of $747.31 million during the quarter, compared to analysts’ expectations of $711.05 million. Sell-side analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal 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.