34,019 Shares in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Acquired by Inceptionr LLC

Inceptionr LLC acquired a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 34,019 shares of the biotechnology company’s stock, valued at approximately $2,236,000. BioMarin Pharmaceutical makes up approximately 0.5% of Inceptionr LLC’s holdings, making the stock its 14th biggest holding.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund grew its holdings in BioMarin Pharmaceutical by 0.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 38,738 shares of the biotechnology company’s stock worth $2,546,000 after buying an additional 164 shares in the last quarter. Fifth Third Bancorp grew its holdings in BioMarin Pharmaceutical by 13.9% in the 4th quarter. Fifth Third Bancorp now owns 1,351 shares of the biotechnology company’s stock worth $89,000 after buying an additional 165 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in BioMarin Pharmaceutical by 0.8% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,105 shares of the biotechnology company’s stock worth $1,483,000 after buying an additional 173 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in BioMarin Pharmaceutical by 1.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 11,451 shares of the biotechnology company’s stock worth $805,000 after buying an additional 180 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its holdings in BioMarin Pharmaceutical by 57.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after buying an additional 186 shares in the last quarter. 98.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BMRN has been the subject of a number of research reports. Oppenheimer raised BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price target for the company in a research note on Monday, February 24th. Piper Sandler boosted their price objective on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Wedbush reissued an “outperform” rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Citigroup raised their price objective on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Finally, Bank of America raised their price objective on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and an average price target of $94.00.

BioMarin Pharmaceutical Price Performance

NASDAQ BMRN opened at $71.19 on Thursday. The company has a 50 day simple moving average of $65.57 and a 200-day simple moving average of $69.81. 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 firm has a market capitalization of $13.58 billion, a price-to-earnings ratio of 32.36, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a 52-week low of $60.63 and a 52-week high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted 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%. Equities research analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal year.

Insider Transactions at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,344 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $68.38, for a total value of $91,902.72. Following the completion of the sale, the chief accounting officer now directly owns 13,105 shares of the company’s stock, valued at $896,119.90. This represents a 9.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.85% of the stock is owned by insiders.

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.