Worldquant Millennium Advisors LLC Has $18.28 Million Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Worldquant Millennium Advisors LLC lifted its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 337.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 278,118 shares of the biotechnology company’s stock after buying an additional 214,546 shares during the period. Worldquant Millennium Advisors LLC’s holdings in BioMarin Pharmaceutical were worth $18,281,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Merit Financial Group LLC bought a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at about $317,000. UMB Bank n.a. raised its holdings in shares of BioMarin Pharmaceutical by 260.1% in the 4th quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company’s stock valued at $67,000 after purchasing an additional 736 shares during the period. Perpetual Ltd bought a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at about $230,000. Exchange Traded Concepts LLC raised its holdings in shares of BioMarin Pharmaceutical by 12.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 18,817 shares of the biotechnology company’s stock valued at $1,237,000 after purchasing an additional 2,154 shares during the period. Finally, Fifth Third Bancorp raised its holdings in shares of BioMarin Pharmaceutical by 13.9% in the 4th quarter. Fifth Third Bancorp now owns 1,351 shares of the biotechnology company’s stock valued at $89,000 after purchasing an additional 165 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Scotiabank upped their target price on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, February 20th. Citigroup dropped their target price on shares of BioMarin Pharmaceutical from $82.00 to $78.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd. Bank of America upped their target price on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Piper Sandler upped their target price on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Finally, The Goldman Sachs Group dropped their target price on shares of BioMarin Pharmaceutical from $124.00 to $104.00 and set a “buy” rating on the stock in a report on Monday, May 5th. Six investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.45.

BioMarin Pharmaceutical Stock Up 0.9%

Shares of BMRN opened at $59.93 on Wednesday. BioMarin Pharmaceutical Inc. has a 12 month low of $52.93 and a 12 month high of $94.85. The firm’s 50 day moving average is $63.19 and its 200-day moving average is $64.95. The stock has a market capitalization of $11.49 billion, a PE ratio of 27.24, a P/E/G ratio of 0.61 and a beta of 0.27. 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 announced its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, topping 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 company had revenue of $747.31 million for the quarter, compared to analysts’ expectations of $711.05 million. Equities research analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

Insider Transactions at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,786 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $59.31, for a total transaction of $105,927.66. Following the transaction, the chief accounting officer now directly owns 14,173 shares of the company’s stock, valued at approximately $840,600.63. This trade represents a 11.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 4,698 shares of company stock valued at $308,172. 0.85% of the stock is currently owned by company 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.