Foundry Partners LLC Buys Shares of 2,255 BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Foundry Partners LLC bought a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,255 shares of the biotechnology company’s stock, valued at approximately $217,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of BMRN. Barclays PLC grew its position in shares of BioMarin Pharmaceutical by 31.6% during the 3rd quarter. Barclays PLC now owns 5,573,157 shares of the biotechnology company’s stock valued at $493,111,000 after purchasing an additional 1,336,886 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of BioMarin Pharmaceutical by 5.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,163,949 shares of the biotechnology company’s stock valued at $456,906,000 after purchasing an additional 275,436 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its position in shares of BioMarin Pharmaceutical by 10.7% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,308,245 shares of the biotechnology company’s stock valued at $115,754,000 after purchasing an additional 126,680 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of BioMarin Pharmaceutical by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,304,797 shares of the biotechnology company’s stock valued at $115,448,000 after purchasing an additional 33,592 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of BioMarin Pharmaceutical by 3.7% during the 3rd quarter. Northern Trust Corp now owns 1,219,814 shares of the biotechnology company’s stock valued at $107,929,000 after purchasing an additional 43,695 shares in the last quarter. Institutional investors own 98.71% of the company’s stock.

Wall Street Analyst Weigh In

BMRN has been the subject of a number of recent analyst reports. Canaccord Genuity Group restated a “hold” rating and set a $91.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $100.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Royal Bank of Canada reissued a “sector perform” rating and set a $100.00 price objective on shares of BioMarin Pharmaceutical in a report on Friday, February 23rd. Piper Sandler cut their target price on BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. Finally, Robert W. Baird decreased their price target on shares of BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 30th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $107.61.

BioMarin Pharmaceutical Stock Up 2.9 %

Shares of NASDAQ:BMRN opened at $92.06 on Wednesday. The stock’s 50-day moving average is $87.76 and its 200 day moving average is $89.21. The company has a market cap of $17.37 billion, a PE ratio of 104.61, a P/E/G ratio of 1.64 and a beta of 0.31. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.51 and a quick ratio of 1.57. BioMarin Pharmaceutical Inc. has a 1 year low of $76.02 and a 1 year high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.05. BioMarin Pharmaceutical had a return on equity of 5.01% and a net margin of 6.93%. The business had revenue of $646.21 million during the quarter, compared to analysts’ expectations of $639.53 million. During the same quarter last year, the business posted $0.11 EPS. The business’s revenue was up 20.2% on a year-over-year basis. Sell-side analysts anticipate that BioMarin Pharmaceutical Inc. will post 1.85 EPS for the current year.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, insider Henry J. Fuchs sold 35,341 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $85.18, for a total value of $3,010,346.38. Following the completion of the sale, the insider now owns 212,117 shares in the company, valued at approximately $18,068,126.06. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Henry J. Fuchs sold 35,341 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $85.18, for a total value of $3,010,346.38. Following the completion of the transaction, the insider now owns 212,117 shares in the company, valued at approximately $18,068,126.06. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Erin Burkhart sold 2,286 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $90.00, for a total value of $205,740.00. Following the completion of the transaction, the chief accounting officer now owns 16,156 shares of the company’s stock, valued at approximately $1,454,040. The disclosure for this sale can be found here. In the last 90 days, insiders sold 103,229 shares of company stock worth $9,062,967. 1.84% of the stock is currently owned by company insiders.

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.