Allianz SE Invests $3.07 Million in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Allianz SE purchased a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 4th quarter, Holdings Channel.com reports. The fund purchased 46,830 shares of the biotechnology company’s stock, valued at approximately $3,065,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund lifted its position in shares of BioMarin Pharmaceutical by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 38,738 shares of the biotechnology company’s stock worth $2,546,000 after purchasing an additional 164 shares during the last quarter. Fifth Third Bancorp lifted its holdings in BioMarin Pharmaceutical by 13.9% during the 4th quarter. Fifth Third Bancorp now owns 1,351 shares of the biotechnology company’s stock valued at $89,000 after buying an additional 165 shares in the last quarter. TD Private Client Wealth LLC boosted its position in BioMarin Pharmaceutical by 57.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 186 shares during the period. First Hawaiian Bank grew its stake in BioMarin Pharmaceutical by 1.4% in the 4th quarter. First Hawaiian Bank now owns 14,700 shares of the biotechnology company’s stock worth $966,000 after acquiring an additional 200 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of BioMarin Pharmaceutical by 27.5% during the fourth quarter. Blue Trust Inc. now owns 1,095 shares of the biotechnology company’s stock worth $77,000 after acquiring an additional 236 shares during the period. 98.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BMRN shares. Piper Sandler boosted their price target on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. StockNews.com raised BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 18th. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Finally, Wedbush reissued an “outperform” rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $94.00.

Insider Activity

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,295 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total transaction of $92,618.40. Following the completion of the sale, the chief accounting officer now directly owns 16,955 shares in the company, valued at approximately $1,212,621.60. The trade was a 7.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN opened at $71.44 on Friday. BioMarin Pharmaceutical Inc. has a fifty-two week low of $60.63 and a fifty-two week high of $94.85. The company has a market cap of $13.63 billion, a PE ratio of 32.47, a P/E/G ratio of 0.61 and a beta of 0.33. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33. The business has a 50-day simple moving average of $67.46 and a two-hundred day simple moving average of $67.63.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates 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. As a group, equities analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal 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.