HighTower Advisors LLC Acquires 10,730 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

HighTower Advisors LLC lifted its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 34.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,468 shares of the biotechnology company’s stock after purchasing an additional 10,730 shares during the period. HighTower Advisors LLC’s holdings in BioMarin Pharmaceutical were worth $2,726,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Oregon Public Employees Retirement Fund raised its stake in shares of BioMarin Pharmaceutical by 0.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 38,738 shares of the biotechnology company’s stock worth $2,546,000 after purchasing an additional 164 shares during the period. Fifth Third Bancorp raised its stake in shares of BioMarin Pharmaceutical by 13.9% during the 4th quarter. Fifth Third Bancorp now owns 1,351 shares of the biotechnology company’s stock worth $89,000 after purchasing an additional 165 shares during the period. Advisors Asset Management Inc. raised its stake in shares of BioMarin Pharmaceutical by 1.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 11,451 shares of the biotechnology company’s stock worth $805,000 after purchasing an additional 180 shares during the period. TD Private Client Wealth LLC raised its stake in shares of BioMarin Pharmaceutical by 57.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 186 shares during the period. Finally, First Hawaiian Bank raised its stake in BioMarin Pharmaceutical by 1.4% in the 4th quarter. First Hawaiian Bank now owns 14,700 shares of the biotechnology company’s stock valued at $966,000 after acquiring an additional 200 shares during the period. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Stock Down 0.5 %

Shares of NASDAQ BMRN opened at $71.24 on Friday. BioMarin Pharmaceutical Inc. has a one year low of $60.63 and a one year high of $94.85. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. The firm’s 50 day simple moving average is $66.58 and its two-hundred day simple moving average is $68.28. The stock has a market capitalization of $13.59 billion, a P/E ratio of 32.38, a PEG ratio of 0.61 and a beta of 0.33.

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

Insider Transactions at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,344 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $68.38, for a total value of $91,902.72. Following the transaction, the chief accounting officer now owns 13,105 shares in the company, valued at approximately $896,119.90. This trade represents a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.85% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on BMRN shares. Oppenheimer upgraded BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price objective on the stock in a research note on Monday, February 24th. Scotiabank boosted their price objective on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, February 20th. Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Finally, UBS Group boosted their price objective on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $94.00.

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.