Alberta Investment Management Corp Purchases New Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Alberta Investment Management Corp purchased a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 58,400 shares of the biotechnology company’s stock, valued at approximately $3,839,000.

A number of other hedge funds also recently modified their holdings of BMRN. Creative Planning increased its position in shares of BioMarin Pharmaceutical by 20.9% during the third quarter. Creative Planning now owns 14,300 shares of the biotechnology company’s stock valued at $1,005,000 after purchasing an additional 2,475 shares during the period. Blue Trust Inc. boosted its stake in BioMarin Pharmaceutical by 504.9% during the third quarter. Blue Trust Inc. now owns 859 shares of the biotechnology company’s stock worth $60,000 after buying an additional 717 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in BioMarin Pharmaceutical in the 3rd quarter valued at $279,000. Lecap Asset Management Ltd. acquired a new position in shares of BioMarin Pharmaceutical in the 3rd quarter valued at $1,009,000. Finally, International Assets Investment Management LLC bought a new position in shares of BioMarin Pharmaceutical during the 3rd quarter worth about $12,940,000. Institutional investors own 98.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BMRN. Robert W. Baird decreased their price objective on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Bank of America increased their target price on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a research report on Thursday. Evercore ISI decreased their price objective on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday. Finally, UBS Group boosted their target price on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a report on Thursday. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.81.

BioMarin Pharmaceutical Price Performance

Shares of BMRN stock opened at $68.73 on Friday. BioMarin Pharmaceutical Inc. has a 12 month low of $60.63 and a 12 month high of $94.85. The stock has a 50-day moving average price of $64.79 and a 200 day moving average price of $71.06. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11. The firm has a market cap of $13.10 billion, a price-to-earnings ratio of 41.16, a PEG ratio of 0.57 and a beta of 0.28.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data 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. The firm had revenue of $747.31 million for the quarter, compared to analysts’ expectations of $711.05 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. Research analysts expect that BioMarin Pharmaceutical Inc. will post 2.5 EPS for the current year.

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.