Proficio Capital Partners LLC Buys New Shares in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Proficio Capital Partners LLC acquired a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 14,000 shares of the biotechnology company’s stock, valued at approximately $920,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. M&T Bank Corp lifted its stake in shares of BioMarin Pharmaceutical by 9.5% during the 4th quarter. M&T Bank Corp now owns 7,085 shares of the biotechnology company’s stock worth $466,000 after buying an additional 616 shares during the last quarter. Assetmark Inc. grew its holdings in shares of BioMarin Pharmaceutical by 1,391.9% during the 4th quarter. Assetmark Inc. now owns 4,953 shares of the biotechnology company’s stock valued at $326,000 after purchasing an additional 4,621 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of BioMarin Pharmaceutical by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,423,508 shares of the biotechnology company’s stock valued at $93,567,000 after purchasing an additional 21,880 shares during the last quarter. Grandfield & Dodd LLC grew its holdings in BioMarin Pharmaceutical by 4.4% during the 4th quarter. Grandfield & Dodd LLC now owns 17,392 shares of the biotechnology company’s stock worth $1,143,000 after acquiring an additional 731 shares during the last quarter. Finally, Plato Investment Management Ltd grew its holdings in BioMarin Pharmaceutical by 85.5% during the 4th quarter. Plato Investment Management Ltd now owns 9,402 shares of the biotechnology company’s stock worth $620,000 after acquiring an additional 4,334 shares during the last quarter. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

BMRN stock opened at $71.24 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. The business’s fifty day simple moving average is $66.58 and its two-hundred day simple moving average is $68.28. BioMarin Pharmaceutical Inc. has a twelve month low of $60.63 and a twelve month high of $94.85. The firm has a market cap of $13.59 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 0.61 and a beta of 0.33.

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

Insiders Place Their Bets

In related news, CAO Erin Burkhart sold 1,295 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total transaction of $92,618.40. Following the completion of the transaction, the chief accounting officer now directly owns 16,955 shares in the company, valued at approximately $1,212,621.60. This trade represents a 7.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BMRN shares. Wedbush restated an “outperform” rating and issued a $94.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. StockNews.com upgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Finally, UBS Group lifted 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. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average price target of $94.00.

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.