BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 461.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 611,667 shares of the biotechnology company’s stock after buying an additional 502,695 shares during the quarter. Assenagon Asset Management S.A. owned about 0.32% of BioMarin Pharmaceutical worth $40,205,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC purchased a new position in BioMarin Pharmaceutical in the second quarter worth $5,627,000. Teachers Retirement System of The State of Kentucky increased 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 purchasing an additional 28,837 shares in the last quarter. E Fund Management Co. Ltd. lifted 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 valued at $1,110,000 after purchasing an additional 8,438 shares during the period. EULAV Asset Management boosted its holdings in 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 buying an additional 15,000 shares in the last quarter. Finally, King Luther Capital Management Corp acquired a new position in BioMarin Pharmaceutical during the third quarter worth about $2,027,000. 98.71% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 transaction of $350,300.86. Following the sale, the executive vice president now owns 68,909 shares of the company’s stock, valued at $4,573,490.33. The trade was a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.85% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Robert W. Baird reduced their target price on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. JPMorgan Chase & Co. decreased their price objective on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Canaccord Genuity Group reduced their target price on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, December 12th. Finally, UBS Group boosted their price objective on shares of BioMarin Pharmaceutical from $104.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average price target of $94.20.

BioMarin Pharmaceutical Trading Down 0.5 %

NASDAQ:BMRN opened at $61.25 on Friday. The company has a market cap of $11.67 billion, a PE ratio of 36.68, a P/E/G ratio of 0.59 and a beta of 0.29. The business’s 50 day moving average is $65.71 and its two-hundred day moving average is $74.62. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 52 week low of $60.63 and a 52 week high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (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 the consensus estimate of $703.37 million. BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The company’s revenue for the quarter was up 28.4% on a year-over-year basis. During the same period last year, the business posted $0.26 EPS. On average, analysts predict that BioMarin Pharmaceutical Inc. will post 2.5 EPS for the current year.

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.