Vanguard Group Inc. Has $1.27 Billion Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Vanguard Group Inc. increased its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 0.5% during the fourth quarter, Holdings Channel reports. The fund owned 19,372,185 shares of the biotechnology company’s stock after purchasing an additional 93,531 shares during the period. Vanguard Group Inc. owned approximately 0.10% of BioMarin Pharmaceutical worth $1,273,334,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Erste Asset Management GmbH bought a new stake in shares of BioMarin Pharmaceutical during the third quarter worth $48,527,000. Assenagon Asset Management S.A. grew its holdings in 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 worth $40,205,000 after acquiring an additional 502,695 shares during the last quarter. Vestal Point Capital LP acquired a new stake in BioMarin Pharmaceutical in the 3rd quarter valued at about $28,116,000. Clearline Capital LP bought a new position in shares of BioMarin Pharmaceutical in the third quarter worth about $22,477,000. Finally, Bellevue Group AG lifted its position in shares of 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 purchasing an additional 278,744 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Trading Up 1.9 %

NASDAQ BMRN opened at $72.83 on Friday. The stock has a market capitalization of $13.89 billion, a price-to-earnings ratio of 33.10, a PEG ratio of 0.61 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a 52 week low of $60.63 and a 52 week high of $94.85. The stock’s 50 day moving average price is $67.26 and its two-hundred day moving average price is $67.84. 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 EPS for the quarter, topping the consensus estimate of $0.54 by $0.18. The business had revenue of $747.31 million during the quarter, compared to analysts’ expectations of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. As a group, analysts anticipate that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal year.

Insider Transactions at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,295 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total value of $92,618.40. Following the completion of the transaction, the chief accounting officer now directly owns 16,955 shares of the company’s stock, valued at approximately $1,212,621.60. This trade represents a 7.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.85% of the company’s stock.

Wall Street Analyst Weigh In

BMRN has been the topic of a number of recent research reports. UBS Group increased their price objective on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price target on shares of BioMarin Pharmaceutical in a research note 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, March 18th. Piper Sandler increased their price target on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Finally, Oppenheimer upgraded BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price target on the stock in a research report on Monday, February 24th. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $94.00.

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.