Foundry Partners LLC Makes New $217,000 Investment in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Foundry Partners LLC acquired a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 2,255 shares of the biotechnology company’s stock, valued at approximately $217,000.

Several other institutional investors have also modified their holdings of BMRN. CWM LLC lifted its position in shares of BioMarin Pharmaceutical by 10.0% during the 3rd quarter. CWM LLC now owns 1,301 shares of the biotechnology company’s stock worth $115,000 after buying an additional 118 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of BioMarin Pharmaceutical by 3.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 27,605 shares of the biotechnology company’s stock worth $2,442,000 after buying an additional 865 shares during the last quarter. Handelsbanken Fonder AB lifted its position in shares of BioMarin Pharmaceutical by 1.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 91,755 shares of the biotechnology company’s stock worth $8,118,000 after buying an additional 1,593 shares during the last quarter. Simplicity Solutions LLC lifted its position in shares of BioMarin Pharmaceutical by 8.4% during the 3rd quarter. Simplicity Solutions LLC now owns 2,971 shares of the biotechnology company’s stock worth $263,000 after buying an additional 229 shares during the last quarter. Finally, AMI Asset Management Corp purchased a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter worth approximately $27,838,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on BMRN. Piper Sandler reduced their price objective on shares of BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd. Canaccord Genuity Group reiterated a “hold” rating and issued a $91.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 29th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Robert W. Baird reduced their price target on shares of BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating for the company in a research report on Tuesday, January 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $100.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $107.61.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN opened at $92.06 on Wednesday. The company has a quick ratio of 1.57, a current ratio of 2.51 and a debt-to-equity ratio of 0.12. BioMarin Pharmaceutical Inc. has a fifty-two week low of $76.02 and a fifty-two week high of $99.56. The stock has a market cap of $17.37 billion, a PE ratio of 104.61, a price-to-earnings-growth ratio of 1.64 and a beta of 0.31. The firm’s fifty day simple moving average is $87.76 and its 200-day simple moving average is $89.21.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.05. BioMarin Pharmaceutical had a net margin of 6.93% and a return on equity of 5.01%. The business had revenue of $646.21 million for the quarter, compared to analysts’ expectations of $639.53 million. During the same period in the prior year, the company posted $0.11 EPS. The business’s revenue for the quarter was up 20.2% on a year-over-year basis. Analysts expect that BioMarin Pharmaceutical Inc. will post 1.85 earnings per share for the current fiscal year.

Insider Transactions at BioMarin Pharmaceutical

In related news, Director Jean Jacques Bienaime sold 20,000 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $91.26, for a total value of $1,825,200.00. Following the sale, the director now directly owns 474,994 shares of the company’s stock, valued at approximately $43,347,952.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Henry J. Fuchs sold 35,341 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $85.18, for a total value of $3,010,346.38. Following the sale, the insider now directly owns 212,117 shares of the company’s stock, valued at approximately $18,068,126.06. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jean Jacques Bienaime sold 20,000 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $91.26, for a total transaction of $1,825,200.00. Following the completion of the sale, the director now directly owns 474,994 shares in the company, valued at $43,347,952.44. The disclosure for this sale can be found here. Insiders have sold a total of 103,229 shares of company stock valued at $9,062,967 in the last ninety days. 1.84% of the stock is currently owned by company insiders.

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.