Intech Investment Management LLC Has $10.63 Million Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Intech Investment Management LLC grew its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 200.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 161,735 shares of the biotechnology company’s stock after purchasing an additional 107,879 shares during the quarter. Intech Investment Management LLC’s holdings in BioMarin Pharmaceutical were worth $10,631,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Erste Asset Management GmbH acquired a new position in shares of BioMarin Pharmaceutical in the third quarter worth approximately $48,527,000. Assenagon Asset Management S.A. lifted its stake in shares of BioMarin Pharmaceutical by 461.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company’s stock worth $40,205,000 after acquiring an additional 502,695 shares during the period. Vestal Point Capital LP acquired a new position in shares of BioMarin Pharmaceutical in the third quarter worth approximately $28,116,000. Clearline Capital LP acquired a new position in shares of BioMarin Pharmaceutical in the third quarter worth approximately $22,477,000. Finally, Bellevue Group AG lifted its stake in shares of BioMarin Pharmaceutical by 533.7% in the third quarter. Bellevue Group AG now owns 330,976 shares of the biotechnology company’s stock worth $23,264,000 after acquiring an additional 278,744 shares during the period. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Trading Up 3.0 %

Shares of BioMarin Pharmaceutical stock opened at $71.55 on Tuesday. The stock has a fifty day simple moving average of $66.31 and a 200 day simple moving average of $68.51. BioMarin Pharmaceutical Inc. has a 12-month low of $60.63 and a 12-month high of $94.85. The company has a market capitalization of $13.65 billion, a P/E ratio of 32.52, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.18. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. The business had revenue of $747.31 million for the quarter, compared to analysts’ expectations of $711.05 million. On average, sell-side analysts anticipate that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,344 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $68.38, for a total value of $91,902.72. Following the transaction, the chief accounting officer now owns 13,105 shares of the company’s stock, valued at approximately $896,119.90. The trade was a 9.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BMRN shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Citigroup lifted their target price on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Wedbush reiterated an “outperform” rating and issued a $94.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Oppenheimer upgraded BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 target price for the company in a report on Monday, February 24th. Finally, Piper Sandler lifted their target price on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Seven research 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $94.00.

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.