Geode Capital Management LLC Has $215.78 Million Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Geode Capital Management LLC grew its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,288,778 shares of the biotechnology company’s stock after purchasing an additional 28,728 shares during the quarter. Geode Capital Management LLC owned about 1.73% of BioMarin Pharmaceutical worth $215,784,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BMRN. Norges Bank bought a new stake in BioMarin Pharmaceutical in the fourth quarter valued at about $234,645,000. Assenagon Asset Management S.A. increased its stake in shares of BioMarin Pharmaceutical by 461.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company’s stock valued at $40,205,000 after acquiring an additional 502,695 shares during the last quarter. Candriam S.C.A. raised its position in shares of BioMarin Pharmaceutical by 77.2% in the 4th quarter. Candriam S.C.A. now owns 580,222 shares of the biotechnology company’s stock valued at $38,138,000 after acquiring an additional 252,820 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in BioMarin Pharmaceutical by 206.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,496 shares of the biotechnology company’s stock worth $23,432,000 after acquiring an additional 240,239 shares during the last quarter. Finally, Tredje AP fonden grew its holdings in BioMarin Pharmaceutical by 662.6% during the fourth quarter. Tredje AP fonden now owns 223,664 shares of the biotechnology company’s stock valued at $14,701,000 after purchasing an additional 194,334 shares during the period. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Stock Performance

BMRN opened at $60.26 on Friday. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 12-month low of $59.99 and a 12-month high of $94.85. The business has a 50 day moving average of $67.95 and a 200-day moving average of $67.22. The stock has a market cap of $11.50 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 0.61 and a beta of 0.30.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BMRN shares. Citigroup boosted their target price on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Piper Sandler upped their price target on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Oppenheimer upgraded shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price objective on the stock in a report on Monday, February 24th. UBS Group upped their target price on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, StockNews.com downgraded BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 1st. Seven investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $94.00.

Insider Buying and Selling

In related news, CAO Erin Burkhart sold 1,344 shares of BioMarin Pharmaceutical stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.85% of the stock is currently 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.