58,400 Shares in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Purchased by Alberta Investment Management Corp

Alberta Investment Management Corp acquired a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 58,400 shares of the biotechnology company’s stock, valued at approximately $3,839,000.

A number of other hedge funds also recently bought and sold shares of the company. Global Retirement Partners LLC raised its holdings in shares of BioMarin Pharmaceutical by 18.5% during the fourth quarter. Global Retirement Partners LLC now owns 2,708 shares of the biotechnology company’s stock valued at $178,000 after acquiring an additional 422 shares during the period. D.A. Davidson & CO. purchased a new position in BioMarin Pharmaceutical during the 4th quarter worth approximately $495,000. CIBC Asset Management Inc grew its position in BioMarin Pharmaceutical by 13.8% during the 4th quarter. CIBC Asset Management Inc now owns 7,657 shares of the biotechnology company’s stock worth $503,000 after purchasing an additional 926 shares in the last quarter. Principal Securities Inc. raised its stake in BioMarin Pharmaceutical by 24.0% during the 4th quarter. Principal Securities Inc. now owns 1,749 shares of the biotechnology company’s stock valued at $115,000 after purchasing an additional 339 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of BioMarin Pharmaceutical by 2.0% in the fourth quarter. Rhumbline Advisers now owns 556,255 shares of the biotechnology company’s stock valued at $36,563,000 after purchasing an additional 11,025 shares in the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $68.73 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62. The company’s fifty day moving average price is $64.79 and its 200 day moving average price is $71.06. The company has a market capitalization of $13.10 billion, a PE ratio of 41.16, a price-to-earnings-growth ratio of 0.57 and a beta of 0.28. BioMarin Pharmaceutical Inc. has a one year low of $60.63 and a one year high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly 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. BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The company had revenue of $747.31 million for the quarter, compared to the consensus estimate of $711.05 million. As a group, analysts expect that BioMarin Pharmaceutical Inc. will post 2.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BMRN. William Blair downgraded BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Evercore ISI cut their price objective on BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Canaccord Genuity Group lowered their target price on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a research note on Wednesday, October 30th. JPMorgan Chase & Co. cut their price target on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Finally, Wedbush reissued an “outperform” rating and issued a $94.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday. Seven investment 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.81.

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.