Callan Family Office LLC Makes New Investment in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Callan Family Office LLC bought a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the fourth quarter, HoldingsChannel reports. The fund bought 7,470 shares of the biotechnology company’s stock, valued at approximately $491,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Merit Financial Group LLC purchased a new stake in BioMarin Pharmaceutical in the 4th quarter worth approximately $317,000. Assenagon Asset Management S.A. lifted its position in BioMarin Pharmaceutical by 461.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company’s stock worth $40,205,000 after buying an additional 502,695 shares in the last quarter. Wedmont Private Capital purchased a new stake in BioMarin Pharmaceutical in the 4th quarter worth approximately $430,000. Swedbank AB lifted its stake in BioMarin Pharmaceutical by 11.2% in the fourth quarter. Swedbank AB now owns 432,122 shares of the biotechnology company’s stock valued at $28,403,000 after acquiring an additional 43,593 shares during the last quarter. Finally, EULAV Asset Management lifted its stake in BioMarin Pharmaceutical by 12.9% in the third quarter. EULAV Asset Management now owns 131,000 shares of the biotechnology company’s stock valued at $9,208,000 after acquiring an additional 15,000 shares during the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Trading Up 1.4 %

BioMarin Pharmaceutical stock opened at $72.23 on Monday. The business has a 50 day moving average price of $65.76 and a two-hundred day moving average price of $69.34. 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 stock has a market cap of $13.78 billion, a price-to-earnings ratio of 32.83, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a 12 month low of $60.63 and a 12 month high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly 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 firm had revenue of $747.31 million during the quarter, compared to analysts’ expectations of $711.05 million. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. As a group, equities analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

Insider Buying and Selling at BioMarin Pharmaceutical

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 stock was sold at an average price of $68.38, for a total value of $91,902.72. Following the sale, the chief accounting officer now directly owns 13,105 shares in the company, valued at $896,119.90. This represents a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.85% of the company’s stock.

Analyst Upgrades and Downgrades

BMRN has been the subject of a number of analyst reports. Wedbush reiterated an “outperform” rating and issued a $94.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Citigroup lifted their target price on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Wolfe Research began coverage on shares of BioMarin Pharmaceutical in a research note on Friday, November 15th. They issued an “outperform” rating and a $95.00 target price for the company. Finally, Scotiabank upped their target price on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 20th. Seven 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 data from MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus price target of $94.00.

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.