Connor Clark & Lunn Investment Management Ltd. Invests $8.17 Million in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 116,257 shares of the biotechnology company’s stock, valued at approximately $8,172,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.06% of BioMarin Pharmaceutical at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Innealta Capital LLC bought a new position in shares of BioMarin Pharmaceutical in the second quarter worth about $25,000. nVerses Capital LLC bought a new position in BioMarin Pharmaceutical in the third quarter worth $28,000. BOKF NA acquired a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter valued at about $31,000. Quent Capital LLC grew its stake in shares of BioMarin Pharmaceutical by 58.9% in the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 145 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new position in BioMarin Pharmaceutical during the second quarter worth $47,000. Institutional investors own 98.71% of the company’s stock.

Insider Buying and Selling

In related news, EVP Charles Greg Guyer sold 5,278 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total value of $350,300.86. Following the completion of the sale, the executive vice president now directly owns 68,909 shares in the company, valued at approximately $4,573,490.33. The trade was a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.85% of the stock is currently owned by insiders.

BioMarin Pharmaceutical Trading Up 1.3 %

Shares of NASDAQ:BMRN opened at $64.26 on Friday. The company has a 50-day simple moving average of $68.25 and a 200 day simple moving average of $78.47. The company has a market capitalization of $12.25 billion, a P/E ratio of 38.48, a price-to-earnings-growth ratio of 0.61 and a beta of 0.31. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27. BioMarin Pharmaceutical Inc. has a 52-week low of $61.15 and a 52-week high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.23). The company had revenue of $746.00 million during the quarter, compared to analyst estimates of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. BioMarin Pharmaceutical’s revenue for the quarter was up 28.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 earnings per share. Sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 2.47 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on BMRN. Stifel Nicolaus reduced their target price on BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $80.00 price objective on shares of BioMarin Pharmaceutical in a research note on Wednesday, October 30th. Citigroup lowered their price target on BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. TD Cowen dropped their price objective on BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Cantor Fitzgerald cut their price target on shares of BioMarin Pharmaceutical from $110.00 to $90.00 and set an “overweight” rating on the stock 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 given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $94.20.

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.