AIA Group Ltd Acquires 266 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

AIA Group Ltd increased its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 7.0% in the 1st quarter, Holdings Channel reports. The fund owned 4,076 shares of the biotechnology company’s stock after buying an additional 266 shares during the quarter. AIA Group Ltd’s holdings in BioMarin Pharmaceutical were worth $356,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of BMRN. Hudson Bay Capital Management LP increased its stake in BioMarin Pharmaceutical by 147.0% during the 3rd quarter. Hudson Bay Capital Management LP now owns 130,910 shares of the biotechnology company’s stock valued at $11,583,000 after purchasing an additional 77,910 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in BioMarin Pharmaceutical by 24.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 177,695 shares of the biotechnology company’s stock valued at $15,722,000 after purchasing an additional 35,374 shares in the last quarter. First Hawaiian Bank increased its stake in BioMarin Pharmaceutical by 2.8% during the 4th quarter. First Hawaiian Bank now owns 15,932 shares of the biotechnology company’s stock valued at $1,536,000 after purchasing an additional 432 shares in the last quarter. Nordea Investment Management AB increased its stake in BioMarin Pharmaceutical by 4.9% during the 4th quarter. Nordea Investment Management AB now owns 11,594 shares of the biotechnology company’s stock valued at $1,121,000 after purchasing an additional 544 shares in the last quarter. Finally, Advisor Resource Council bought a new stake in BioMarin Pharmaceutical during the 4th quarter valued at about $234,000. 98.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP George Eric Davis sold 1,850 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $85.01, for a total transaction of $157,268.50. Following the sale, the executive vice president now owns 56,157 shares in the company, valued at $4,773,906.57. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP George Eric Davis sold 1,850 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $85.01, for a total transaction of $157,268.50. Following the sale, the executive vice president now owns 56,157 shares in the company, valued at $4,773,906.57. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Brian Mueller sold 5,000 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $75.19, for a total transaction of $375,950.00. Following the sale, the chief financial officer now owns 72,159 shares in the company, valued at approximately $5,425,635.21. The disclosure for this sale can be found here. Insiders have sold 67,700 shares of company stock valued at $5,209,352 over the last 90 days. 1.85% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BMRN. Cantor Fitzgerald reiterated an “overweight” rating and issued a $110.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, April 25th. Wells Fargo & Company lifted their price target on shares of BioMarin Pharmaceutical from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Scotiabank lifted their price target on shares of BioMarin Pharmaceutical from $83.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 25th. Baird R W lowered shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 17th. Finally, Evercore ISI began coverage on shares of BioMarin Pharmaceutical in a research note on Tuesday, May 14th. They issued an “outperform” rating and a $113.00 price target for the company. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $106.37.

BioMarin Pharmaceutical Price Performance

NASDAQ:BMRN traded up $1.11 during trading hours on Friday, hitting $85.02. 1,273,929 shares of the stock traded hands, compared to its average volume of 1,937,000. The company has a quick ratio of 1.70, a current ratio of 2.74 and a debt-to-equity ratio of 0.12. BioMarin Pharmaceutical Inc. has a 1 year low of $73.68 and a 1 year high of $99.56. The company has a market cap of $16.14 billion, a price-to-earnings ratio of 79.46, a price-to-earnings-growth ratio of 1.17 and a beta of 0.32. The stock has a 50 day moving average price of $80.89 and a 200 day moving average price of $86.41.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.12. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.34%. The business had revenue of $648.83 million for the quarter, compared to the consensus estimate of $649.75 million. Sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 1.99 EPS for the current fiscal year.

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.