Everence Capital Management Inc. Makes New Investment in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Everence Capital Management Inc. acquired a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,070 shares of the biotechnology company’s stock, valued at approximately $333,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. nVerses Capital LLC acquired a new position in BioMarin Pharmaceutical in the third quarter valued at approximately $28,000. BOKF NA acquired a new position in shares of BioMarin Pharmaceutical in the 2nd quarter valued at $31,000. TD Private Client Wealth LLC grew its position in shares of BioMarin Pharmaceutical by 57.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 186 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in BioMarin Pharmaceutical during the 2nd quarter worth $47,000. Finally, Meeder Asset Management Inc. lifted its position in BioMarin Pharmaceutical by 920.8% in the third quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock valued at $52,000 after acquiring an additional 663 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Scotiabank dropped their price objective on BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating on the stock in a report on Tuesday, September 17th. Wolfe Research assumed coverage on BioMarin Pharmaceutical in a research report on Friday, November 15th. They set an “outperform” rating and a $95.00 price target on the stock. JPMorgan Chase & Co. decreased their price objective on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Barclays cut their target price on shares of BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. Finally, Truist Financial lowered their price objective on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $94.20.

BioMarin Pharmaceutical Trading Up 0.4 %

Shares of BMRN stock opened at $67.07 on Tuesday. BioMarin Pharmaceutical Inc. has a twelve month low of $61.15 and a twelve month high of $99.25. The company has a market capitalization of $12.78 billion, a price-to-earnings ratio of 40.16, a PEG ratio of 0.65 and a beta of 0.29. The firm has a 50-day moving average price of $65.77 and a 200 day moving average price of $75.44. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11.

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

Insiders Place Their Bets

In related news, EVP Charles Greg Guyer sold 5,278 shares of the stock in a transaction on 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 approximately $4,573,490.33. This trade represents a 7.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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.