BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Acquired by Shell Asset Management Co.

Shell Asset Management Co. lifted its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 90.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,783 shares of the biotechnology company’s stock after buying an additional 2,268 shares during the quarter. Shell Asset Management Co.’s holdings in BioMarin Pharmaceutical were worth $314,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Merit Financial Group LLC acquired a new position in shares of BioMarin Pharmaceutical during the fourth quarter worth about $317,000. Swedbank AB grew its position in shares of BioMarin Pharmaceutical by 11.2% during the fourth quarter. Swedbank AB now owns 432,122 shares of the biotechnology company’s stock worth $28,403,000 after buying an additional 43,593 shares in the last quarter. Rhumbline Advisers boosted its holdings in 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. Mediolanum International Funds Ltd purchased a new position in BioMarin Pharmaceutical in the fourth quarter valued at approximately $1,237,000. Finally, Empowered Funds LLC purchased a new position in BioMarin Pharmaceutical in the fourth quarter valued at approximately $257,000. 98.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on BMRN. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. The Goldman Sachs Group dropped their price target on shares of BioMarin Pharmaceutical from $124.00 to $104.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. UBS Group increased their price target on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Piper Sandler increased their price target 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. Finally, Oppenheimer upgraded shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price target on the stock in a research note on Monday, February 24th. Six equities research 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 MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.45.

BioMarin Pharmaceutical Trading Up 1.7%

NASDAQ:BMRN opened at $59.27 on Monday. The company has a market capitalization of $11.37 billion, a PE ratio of 26.94, a price-to-earnings-growth ratio of 0.61 and a beta of 0.27. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 52-week low of $52.93 and a 52-week high of $94.85. The stock has a fifty day simple moving average of $63.63 and a 200-day simple moving average of $65.04.

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

Insider Transactions at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,295 shares of BioMarin Pharmaceutical stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total transaction of $92,618.40. Following the completion of the transaction, the chief accounting officer now owns 16,955 shares of the company’s stock, valued at $1,212,621.60. The trade was a 7.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold 2,912 shares of company stock valued at $202,244 in the last 90 days. 0.85% of the stock is currently owned by insiders.

About BioMarin Pharmaceutical

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.