Elo Mutual Pension Insurance Co Acquires 2,203 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Elo Mutual Pension Insurance Co lifted its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 13.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 19,069 shares of the biotechnology company’s stock after acquiring an additional 2,203 shares during the period. Elo Mutual Pension Insurance Co’s holdings in BioMarin Pharmaceutical were worth $1,253,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. FMR LLC lifted its stake in BioMarin Pharmaceutical by 21.7% during the third quarter. FMR LLC now owns 206,538 shares of the biotechnology company’s stock worth $14,518,000 after purchasing an additional 36,877 shares during the period. Quantbot Technologies LP acquired a new stake in BioMarin Pharmaceutical in the 3rd quarter valued at $171,000. Glenmede Trust Co. NA bought a new stake in BioMarin Pharmaceutical in the third quarter valued at $254,000. Rockefeller Capital Management L.P. raised its stake in BioMarin Pharmaceutical by 16.5% during the third quarter. Rockefeller Capital Management L.P. now owns 266,633 shares of the biotechnology company’s stock worth $18,742,000 after acquiring an additional 37,805 shares in the last quarter. Finally, Captrust Financial Advisors lifted its holdings in shares of BioMarin Pharmaceutical by 34.1% during the third quarter. Captrust Financial Advisors now owns 10,900 shares of the biotechnology company’s stock valued at $766,000 after acquiring an additional 2,770 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on BMRN shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Citigroup lifted their target price on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Bank of America increased their price target on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Scotiabank lifted their price objective on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, February 20th. Finally, Oppenheimer upgraded BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 target price on the stock in a report on Monday, February 24th. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average price target of $94.00.

BioMarin Pharmaceutical Price Performance

Shares of BMRN opened at $71.44 on Monday. The stock has a market cap of $13.63 billion, a P/E ratio of 32.47, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a 1 year low of $60.63 and a 1 year high of $94.85. The stock’s 50-day moving average price is $67.46 and its two-hundred day moving average price is $67.51. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.18. The business had revenue of $747.31 million for the quarter, compared to the consensus estimate of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. On average, equities analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Insider Transactions at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,344 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $68.38, for a total transaction of $91,902.72. Following the sale, the chief accounting officer now owns 13,105 shares of the company’s stock, valued at approximately $896,119.90. This trade represents a 9.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical 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.