Worldquant Millennium Advisors LLC Invests $4.47 Million in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Worldquant Millennium Advisors LLC purchased a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 63,572 shares of the biotechnology company’s stock, valued at approximately $4,468,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AGF Management Ltd. purchased a new position in shares of BioMarin Pharmaceutical during the 2nd quarter worth approximately $2,563,000. Susquehanna Fundamental Investments LLC purchased a new position in BioMarin Pharmaceutical in the 2nd quarter valued at approximately $5,627,000. Teachers Retirement System of The State of Kentucky boosted its position in BioMarin Pharmaceutical by 17.4% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 194,207 shares of the biotechnology company’s stock valued at $15,990,000 after buying an additional 28,837 shares during the period. E Fund Management Co. Ltd. boosted its position in BioMarin Pharmaceutical by 167.4% in the 2nd quarter. E Fund Management Co. Ltd. now owns 13,480 shares of the biotechnology company’s stock valued at $1,110,000 after buying an additional 8,438 shares during the period. Finally, EULAV Asset Management boosted its position in BioMarin Pharmaceutical by 12.9% in the 3rd quarter. EULAV Asset Management now owns 131,000 shares of the biotechnology company’s stock valued at $9,208,000 after buying an additional 15,000 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on BMRN. UBS Group raised their price target on shares of BioMarin Pharmaceutical from $104.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $80.00 price target on shares of BioMarin Pharmaceutical in a research report on Wednesday, October 30th. Wolfe Research began coverage on shares of BioMarin Pharmaceutical in a research report on Friday, November 15th. They issued an “outperform” rating and a $95.00 price target for the company. William Blair cut shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Finally, Barclays decreased their price target on shares of BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday, October 4th. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and a consensus target price of $94.20.

Insider Buying and Selling at BioMarin Pharmaceutical

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

BioMarin Pharmaceutical Trading Up 0.9 %

NASDAQ BMRN opened at $66.74 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27. The firm has a market cap of $12.72 billion, a PE ratio of 39.96, a P/E/G ratio of 0.65 and a beta of 0.29. BioMarin Pharmaceutical Inc. has a one year low of $61.15 and a one year high of $99.56. The firm’s fifty day moving average is $67.30 and its two-hundred day moving average is $77.47.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). The business had revenue of $746.00 million during the quarter, compared to analyst estimates of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The company’s revenue for the quarter was up 28.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 earnings per share. Analysts expect that BioMarin Pharmaceutical Inc. will post 2.49 earnings per share for the current year.

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.