Signaturefd LLC Acquires 1,193 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Signaturefd LLC grew its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 184.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,839 shares of the biotechnology company’s stock after buying an additional 1,193 shares during the quarter. Signaturefd LLC’s holdings in BioMarin Pharmaceutical were worth $121,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Merit Financial Group LLC purchased a new stake in BioMarin Pharmaceutical during the 4th quarter valued at about $317,000. Assenagon Asset Management S.A. boosted its stake in shares of BioMarin Pharmaceutical by 461.3% during 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 purchasing an additional 502,695 shares during the period. Wedmont Private Capital bought a new position in shares of BioMarin Pharmaceutical in the fourth quarter worth approximately $430,000. Swedbank AB increased its stake in shares of BioMarin Pharmaceutical by 11.2% in 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 during the period. Finally, Tidal Investments LLC raised its holdings in BioMarin Pharmaceutical by 150.4% during the 3rd quarter. Tidal Investments LLC now owns 30,467 shares of the biotechnology company’s stock valued at $2,142,000 after buying an additional 18,300 shares during the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BMRN. Citigroup raised their target price on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Wedbush reissued an “outperform” rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Bank of America raised their price target on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. UBS Group upped 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, Scotiabank lifted their target price on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $94.00.

BioMarin Pharmaceutical Trading Down 0.5 %

Shares of NASDAQ:BMRN opened at $71.24 on Monday. BioMarin Pharmaceutical Inc. has a 1 year low of $60.63 and a 1 year high of $94.85. The stock’s fifty day moving average price is $66.58 and its 200-day moving average price is $67.96. The company has a market cap of $13.59 billion, a P/E ratio of 32.38, a PEG ratio of 0.61 and a beta of 0.33. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62.

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

Insiders Place Their Bets

In other news, CAO Erin Burkhart sold 1,295 shares of the firm’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total value of $92,618.40. Following the transaction, the chief accounting officer now directly owns 16,955 shares in the company, valued at $1,212,621.60. This trade represents a 7.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.85% of the stock is currently owned by insiders.

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.