Tidal Investments LLC Increases Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Tidal Investments LLC boosted its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 150.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 30,467 shares of the biotechnology company’s stock after purchasing an additional 18,300 shares during the period. Tidal Investments LLC’s holdings in BioMarin Pharmaceutical were worth $2,142,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. AGF Management Ltd. purchased a new stake in BioMarin Pharmaceutical in the second quarter valued at approximately $2,563,000. Susquehanna Fundamental Investments LLC acquired a new stake in BioMarin Pharmaceutical during the 2nd quarter valued at approximately $5,627,000. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of BioMarin Pharmaceutical by 17.4% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 194,207 shares of the biotechnology company’s stock valued at $15,990,000 after acquiring an additional 28,837 shares during the last quarter. E Fund Management Co. Ltd. increased its stake in shares of BioMarin Pharmaceutical by 167.4% in the second quarter. E Fund Management Co. Ltd. now owns 13,480 shares of the biotechnology company’s stock worth $1,110,000 after acquiring an additional 8,438 shares during the period. Finally, EULAV Asset Management raised its holdings in shares of BioMarin Pharmaceutical by 12.9% during the third quarter. EULAV Asset Management now owns 131,000 shares of the biotechnology company’s stock worth $9,208,000 after purchasing an additional 15,000 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Price Performance

NASDAQ:BMRN opened at $65.54 on Tuesday. The stock has a 50 day moving average price of $66.91 and a 200 day moving average price of $77.10. The stock has a market cap of $12.49 billion, a PE ratio of 39.25, a P/E/G ratio of 0.65 and a beta of 0.29. 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 one year low of $61.15 and a one year high of $99.25.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The company had revenue of $746.00 million for the quarter, compared to analysts’ expectations of $703.37 million. During the same quarter in the prior year, the firm earned $0.26 EPS. The firm’s revenue was up 28.4% on a year-over-year basis. Equities research analysts expect that BioMarin Pharmaceutical Inc. will post 2.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BMRN has been the topic of several analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $80.00 price target on shares of BioMarin Pharmaceutical in a research report on Wednesday, October 30th. Barclays dropped their target price on BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. Stifel Nicolaus decreased their price target on BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Evercore ISI dropped their price objective on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, Sanford C. Bernstein decreased their target price on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, September 17th. Seven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $94.20.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 5,278 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 68,909 shares of the company’s stock, valued at $4,573,490.33. This represents a 7.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.85% of the stock is currently owned by company insiders.

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.