Polar Asset Management Partners Inc. Acquires Shares of 14,900 BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Polar Asset Management Partners Inc. bought a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 14,900 shares of the biotechnology company’s stock, valued at approximately $979,000.

A number of other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in BioMarin Pharmaceutical during the 4th quarter valued at $234,645,000. Capital Research Global Investors grew its holdings in shares of BioMarin Pharmaceutical by 23.8% during the fourth quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company’s stock valued at $853,944,000 after buying an additional 2,496,817 shares during the last quarter. Dodge & Cox increased its position in shares of BioMarin Pharmaceutical by 6.1% during the fourth quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company’s stock worth $969,270,000 after acquiring an additional 847,917 shares in the last quarter. AQR Capital Management LLC increased its position in shares of BioMarin Pharmaceutical by 114.5% during the fourth quarter. AQR Capital Management LLC now owns 1,283,599 shares of the biotechnology company’s stock worth $84,371,000 after acquiring an additional 685,099 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of BioMarin Pharmaceutical in the 4th quarter worth about $44,735,000. 98.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at BioMarin Pharmaceutical

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 shares were sold at an average price of $68.38, for a total transaction of $91,902.72. Following 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 2,912 shares of company stock valued at $202,244 over the last three months. 0.85% of the stock is currently owned by insiders.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN opened at $59.27 on Friday. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The stock has a fifty day simple moving average of $63.63 and a two-hundred day simple moving average of $65.04. BioMarin Pharmaceutical Inc. has a 1-year low of $52.93 and a 1-year high of $94.85. The firm has a market cap of $11.37 billion, a price-to-earnings ratio of 26.94, a price-to-earnings-growth ratio of 0.61 and a beta of 0.27.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.18. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. The firm had revenue of $747.31 million for the quarter, compared to analysts’ expectations of $711.05 million. Analysts anticipate that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Wedbush reiterated an “outperform” rating and set a $94.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. StockNews.com raised BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 25th. UBS Group lifted their price objective on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, Citigroup lowered their target price on shares of BioMarin Pharmaceutical from $82.00 to $78.00 and set a “neutral” rating for the company in a report on Friday, May 2nd. Six investment 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 company. According to MarketBeat, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and an average price target of $93.45.

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.