Connor Clark & Lunn Investment Management Ltd. grew its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 206.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 356,496 shares of the biotechnology company's stock after purchasing an additional 240,239 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.19% of BioMarin Pharmaceutical worth $23,432,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Erste Asset Management GmbH bought a new stake in shares of BioMarin Pharmaceutical in the third quarter valued at about $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 valued at $40,205,000 after buying an additional 502,695 shares during the period. Vestal Point Capital LP bought a new stake in shares of BioMarin Pharmaceutical in the third quarter valued at about $28,116,000. Clearline Capital LP bought a new stake in shares of BioMarin Pharmaceutical in the third quarter valued at about $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 valued at $23,264,000 after buying an additional 278,744 shares during the period. 98.71% of the stock is owned by institutional investors and hedge funds.
BMRN has been the subject of several research reports. Piper Sandler increased their target price on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Wedbush restated an "outperform" rating and set a $94.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Cantor Fitzgerald restated an "overweight" rating and set a $90.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Citigroup raised their price target on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Finally, Wolfe Research initiated coverage on shares of BioMarin Pharmaceutical in a research note on Friday, November 15th. They set an "outperform" rating and a $95.00 price target for the company. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, BioMarin Pharmaceutical presently has an average rating of "Moderate Buy" and a consensus price target of $94.00.
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In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,344 shares of the company's stock in a transaction on Monday, February 24th. The shares were 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 in the company, valued at approximately $896,119.90. The trade was a 9.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.85% of the company's stock.
BMRN stock opened at $70.60 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. The company has a 50 day moving average price of $66.16 and a 200 day moving average price of $69.10. BioMarin Pharmaceutical Inc. has a fifty-two week low of $60.63 and a fifty-two week high of $94.85. The stock has a market capitalization of $13.47 billion, a PE ratio of 32.09, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33.
BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last issued its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.54 by $0.18. The company had revenue of $747.31 million during the quarter, compared to analysts' expectations of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. Analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.
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.
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