Grandfield & Dodd LLC Has $1.17 Million Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Grandfield & Dodd LLC grew its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 2.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 16,661 shares of the biotechnology company’s stock after acquiring an additional 425 shares during the quarter. Grandfield & Dodd LLC’s holdings in BioMarin Pharmaceutical were worth $1,171,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in shares of BioMarin Pharmaceutical by 1,858.6% in the 2nd quarter. Principal Financial Group Inc. now owns 649,460 shares of the biotechnology company’s stock valued at $53,470,000 after buying an additional 616,301 shares in the last quarter. Assenagon Asset Management S.A. grew its position in BioMarin Pharmaceutical by 11,107.4% in the second quarter. Assenagon Asset Management S.A. now owns 352,474 shares of the biotechnology company’s stock worth $29,019,000 after acquiring an additional 349,329 shares in the last quarter. Rhumbline Advisers increased its stake in shares of BioMarin Pharmaceutical by 122.1% during the 2nd quarter. Rhumbline Advisers now owns 551,553 shares of the biotechnology company’s stock worth $45,409,000 after purchasing an additional 303,207 shares during the last quarter. Swedbank AB bought a new position in shares of BioMarin Pharmaceutical during the 1st quarter valued at $25,864,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of BioMarin Pharmaceutical by 38.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,034,457 shares of the biotechnology company’s stock valued at $85,178,000 after purchasing an additional 289,953 shares during the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Trading Up 0.1 %

BMRN opened at $61.97 on Wednesday. BioMarin Pharmaceutical Inc. has a 1-year low of $61.15 and a 1-year high of $99.56. The firm has a 50-day moving average price of $69.53 and a two-hundred day moving average price of $78.82. The stock has a market capitalization of $11.81 billion, a PE ratio of 37.11, a PEG ratio of 0.63 and a beta of 0.31. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The company had revenue of $746.00 million during the quarter, compared to the consensus estimate of $703.37 million. During the same quarter last year, the firm earned $0.26 EPS. The business’s revenue for the quarter was up 28.4% on a year-over-year basis. As a group, equities analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.47 earnings per share for the current fiscal year.

Insider Transactions at BioMarin Pharmaceutical

In related news, EVP Charles Greg Guyer sold 5,278 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total value of $350,300.86. Following the transaction, the executive vice president now owns 68,909 shares in the company, valued at $4,573,490.33. This trade represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.85% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. William Blair lowered BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Cantor Fitzgerald lowered their price target on BioMarin Pharmaceutical from $110.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Robert W. Baird reduced their price objective on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Sanford C. Bernstein decreased their price objective on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, September 17th. Finally, Wells Fargo & Company dropped their target price on shares of BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday, September 17th. Seven equities research 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $94.20.

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.