Dynamic Technology Lab Private Ltd Purchases New Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Dynamic Technology Lab Private Ltd purchased a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 8,345 shares of the biotechnology company’s stock, valued at approximately $805,000.

Several other hedge funds have also added to or reduced their stakes in BMRN. Stratos Wealth Partners LTD. lifted its position in shares of BioMarin Pharmaceutical by 2.1% in the 4th quarter. Stratos Wealth Partners LTD. now owns 5,709 shares of the biotechnology company’s stock worth $550,000 after purchasing an additional 115 shares during the period. KB Financial Partners LLC lifted its position in shares of BioMarin Pharmaceutical by 51.3% during the 3rd quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 118 shares during the period. First Horizon Advisors Inc. lifted its position in shares of BioMarin Pharmaceutical by 33.3% during the 4th quarter. First Horizon Advisors Inc. now owns 576 shares of the biotechnology company’s stock valued at $56,000 after acquiring an additional 144 shares during the period. Atria Wealth Solutions Inc. lifted its position in shares of BioMarin Pharmaceutical by 1.6% during the 4th quarter. Atria Wealth Solutions Inc. now owns 9,729 shares of the biotechnology company’s stock valued at $938,000 after acquiring an additional 153 shares during the period. Finally, CWM LLC lifted its position in shares of BioMarin Pharmaceutical by 12.6% during the 4th quarter. CWM LLC now owns 1,465 shares of the biotechnology company’s stock valued at $141,000 after acquiring an additional 164 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN opened at $76.45 on Thursday. The company has a quick ratio of 1.70, a current ratio of 2.74 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $14.52 billion, a PE ratio of 71.45, a P/E/G ratio of 1.10 and a beta of 0.34. BioMarin Pharmaceutical Inc. has a twelve month low of $76.02 and a twelve month high of $99.56. The company has a 50-day moving average price of $84.97 and a two-hundred day moving average price of $88.78.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.12. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.34%. The company had revenue of $648.83 million during the quarter, compared to analyst estimates of $649.75 million. Equities analysts forecast that BioMarin Pharmaceutical Inc. will post 1.99 EPS for the current year.

Insider Activity

In other news, insider Henry J. Fuchs sold 35,341 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $85.18, for a total value of $3,010,346.38. Following the completion of the transaction, the insider now directly owns 212,117 shares in the company, valued at $18,068,126.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Jean Jacques Bienaime sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $81.62, for a total value of $1,632,400.00. Following the sale, the director now directly owns 474,994 shares of the company’s stock, valued at $38,769,010.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Henry J. Fuchs sold 35,341 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $85.18, for a total transaction of $3,010,346.38. Following the completion of the sale, the insider now directly owns 212,117 shares in the company, valued at $18,068,126.06. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,079 shares of company stock worth $9,528,436. 1.85% of the stock is owned by company insiders.

Analyst Ratings Changes

BMRN has been the topic of a number of research reports. Morgan Stanley dropped their target price on shares of BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating on the stock in a research report on Friday, April 26th. Piper Sandler lowered their price objective on shares of BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Robert W. Baird downgraded shares of BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $104.00 to $72.00 in a report on Friday, May 17th. Citigroup lowered their target price on shares of BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Finally, Evercore ISI began coverage on shares of BioMarin Pharmaceutical in a report on Tuesday, May 14th. They issued an “outperform” rating and a $113.00 target price for the company. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.11.

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.