BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Bought by Prudential Financial Inc.

Prudential Financial Inc. lifted its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 131.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 144,082 shares of the biotechnology company’s stock after acquiring an additional 81,887 shares during the period. Prudential Financial Inc.’s holdings in BioMarin Pharmaceutical were worth $9,426,000 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. TD Private Client Wealth LLC lifted its holdings in shares of BioMarin Pharmaceutical by 57.4% in the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 186 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $36,000. True Wealth Design LLC lifted its stake in BioMarin Pharmaceutical by 13,400.0% in the 3rd quarter. True Wealth Design LLC now owns 810 shares of the biotechnology company’s stock valued at $57,000 after buying an additional 804 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in BioMarin Pharmaceutical by 111.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company’s stock valued at $58,000 after buying an additional 466 shares during the last quarter. Finally, UMB Bank n.a. increased its position in BioMarin Pharmaceutical by 260.1% during the fourth quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company’s stock worth $67,000 after buying an additional 736 shares in the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN opened at $71.44 on Friday. The firm has a 50-day moving average of $67.46 and a two-hundred day moving average of $67.63. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. The stock has a market cap of $13.63 billion, a P/E ratio of 32.47, a PEG ratio of 0.61 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a 1-year low of $60.63 and a 1-year high of $94.85.

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

Analyst Ratings Changes

A number of analysts recently commented on the company. Piper Sandler increased their price objective on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Citigroup raised their price target on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Scotiabank lifted their price target on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, February 20th. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Finally, StockNews.com raised shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 18th. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $94.00.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,295 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 16,955 shares of the company’s stock, 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 the SEC website. Insiders own 1.85% of the company’s stock.

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.