AMI Asset Management Corp Has $30.24 Million Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

AMI Asset Management Corp increased its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 51.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 346,189 shares of the biotechnology company’s stock after purchasing an additional 118,230 shares during the quarter. AMI Asset Management Corp’s holdings in BioMarin Pharmaceutical were worth $30,236,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. KB Financial Partners LLC grew its holdings in BioMarin Pharmaceutical by 51.3% during the 3rd quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 118 shares during the last quarter. Lindbrook Capital LLC grew its holdings in BioMarin Pharmaceutical by 259.8% during the 4th quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock worth $37,000 after acquiring an additional 278 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in BioMarin Pharmaceutical by 135.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 249 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in BioMarin Pharmaceutical during the 4th quarter worth approximately $43,000. Finally, First Horizon Advisors Inc. grew its holdings in BioMarin Pharmaceutical by 33.3% during the 4th quarter. First Horizon Advisors Inc. now owns 576 shares of the biotechnology company’s stock worth $56,000 after acquiring an additional 144 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BMRN has been the topic of a number of analyst reports. Robert W. Baird lowered shares of BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $104.00 to $72.00 in a research note on Friday, May 17th. Scotiabank increased their target price on shares of BioMarin Pharmaceutical from $83.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 25th. Baird R W lowered shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 17th. Canaccord Genuity Group cut their target price on shares of BioMarin Pharmaceutical from $91.00 to $89.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. Finally, Wells Fargo & Company increased their target price on shares of BioMarin Pharmaceutical from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $106.37.

BioMarin Pharmaceutical Stock Down 1.5 %

Shares of BMRN stock traded down $1.25 on Thursday, hitting $80.98. The stock had a trading volume of 613,844 shares, compared to its average volume of 3,901,022. The business has a 50 day moving average of $80.82 and a 200 day moving average of $86.98. The stock has a market cap of $15.38 billion, a price-to-earnings ratio of 75.68, a price-to-earnings-growth ratio of 1.17 and a beta of 0.32. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.74 and a quick ratio of 1.70. BioMarin Pharmaceutical Inc. has a 12-month low of $73.68 and a 12-month high of $99.56.

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

Insider Activity

In other news, CAO Erin Burkhart sold 2,286 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $90.00, for a total value of $205,740.00. Following the completion of the sale, the chief accounting officer now owns 16,156 shares in the company, valued at $1,454,040. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Jean Jacques Bienaime sold 20,000 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $91.26, for a total transaction of $1,825,200.00. Following the completion of the transaction, the director now owns 474,994 shares in the company, valued at $43,347,952.44. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Erin Burkhart sold 2,286 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $90.00, for a total transaction of $205,740.00. Following the transaction, the chief accounting officer now owns 16,156 shares of the company’s stock, valued at approximately $1,454,040. The disclosure for this sale can be found here. Insiders sold a total of 89,986 shares of company stock worth $7,240,292 over the last quarter. Insiders own 1.85% of the company’s stock.

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.