6,618 Shares in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Purchased by Alpha DNA Investment Management LLC

Alpha DNA Investment Management LLC bought a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,618 shares of the biotechnology company’s stock, valued at approximately $465,000.

Several other institutional investors also recently made changes to their positions in BMRN. Principal Financial Group Inc. increased its position in 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 acquiring an additional 616,301 shares during the period. Assenagon Asset Management S.A. lifted its holdings 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 purchasing an additional 349,329 shares during the period. Rhumbline Advisers grew its position in BioMarin Pharmaceutical by 122.1% in the 2nd quarter. Rhumbline Advisers now owns 551,553 shares of the biotechnology company’s stock valued at $45,409,000 after buying an additional 303,207 shares in the last quarter. Swedbank AB acquired a new position in BioMarin Pharmaceutical during the 1st quarter valued at about $25,864,000. Finally, Dimensional Fund Advisors LP raised its position in shares of BioMarin Pharmaceutical by 38.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,034,457 shares of the biotechnology company’s stock worth $85,178,000 after buying an additional 289,953 shares in the last quarter. 98.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BMRN. Robert W. Baird decreased their price objective on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Scotiabank lowered their price target on BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating on the stock in a research report on Tuesday, September 17th. William Blair downgraded BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Piper Sandler raised their target price on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Finally, Stifel Nicolaus dropped their price target on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $94.20.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 5,278 shares of the company’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 directly owns 68,909 shares of the company’s stock, valued at $4,573,490.33. This represents a 7.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Stock Up 1.3 %

Shares of BioMarin Pharmaceutical stock opened at $64.26 on Monday. BioMarin Pharmaceutical Inc. has a 1 year low of $61.15 and a 1 year high of $99.56. The company has a market cap of $12.25 billion, a P/E ratio of 38.48, a P/E/G ratio of 0.62 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. The stock has a 50-day moving average price of $68.25 and a 200 day moving average price of $78.42.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $703.37 million. During the same period last year, the company earned $0.26 earnings per share. BioMarin Pharmaceutical’s revenue for the quarter was up 28.4% compared to the same quarter last year. As a group, analysts expect that BioMarin Pharmaceutical Inc. will post 2.49 EPS for the current fiscal year.

About BioMarin Pharmaceutical

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.