Signaturefd LLC Increases Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Signaturefd LLC increased its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 184.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,839 shares of the biotechnology company’s stock after buying an additional 1,193 shares during the quarter. Signaturefd LLC’s holdings in BioMarin Pharmaceutical were worth $121,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of BMRN. Merit Financial Group LLC bought a new stake in shares of BioMarin Pharmaceutical in the 4th quarter worth $317,000. Assenagon Asset Management S.A. boosted its holdings in BioMarin Pharmaceutical by 461.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company’s stock worth $40,205,000 after purchasing an additional 502,695 shares during the last quarter. Wedmont Private Capital bought a new stake in BioMarin Pharmaceutical in the 4th quarter worth about $430,000. Swedbank AB increased its stake in BioMarin Pharmaceutical by 11.2% in the 4th quarter. Swedbank AB now owns 432,122 shares of the biotechnology company’s stock valued at $28,403,000 after buying an additional 43,593 shares during the last quarter. Finally, Tidal Investments LLC increased its stake in BioMarin Pharmaceutical by 150.4% in the 3rd quarter. Tidal Investments LLC now owns 30,467 shares of the biotechnology company’s stock valued at $2,142,000 after buying an additional 18,300 shares during the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on BMRN shares. Scotiabank upped their target price on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, February 20th. UBS Group upped their price objective on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Oppenheimer raised BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 target price for the company in a research report on Monday, February 24th. Wedbush reissued an “outperform” rating and issued a $94.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Finally, Citigroup lifted their price objective on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a “neutral” rating 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $94.00.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN opened at $71.24 on Monday. The stock has a market cap of $13.59 billion, a P/E ratio of 32.38, a PEG ratio of 0.61 and a beta of 0.33. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11. The business’s 50-day moving average price is $66.58 and its two-hundred day moving average price is $67.96. BioMarin Pharmaceutical Inc. has a twelve month low of $60.63 and a twelve month high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.18. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. The business had revenue of $747.31 million during the quarter, compared to analyst estimates of $711.05 million. As a group, equities analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,344 shares of BioMarin Pharmaceutical stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $68.38, for a total transaction of $91,902.72. Following the completion of the sale, the chief accounting officer now owns 13,105 shares of the company’s stock, valued at $896,119.90. The trade was a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.85% of the stock is 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.