BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Stake Raised by CIBC Asset Management Inc

CIBC Asset Management Inc raised its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 5.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,731 shares of the biotechnology company’s stock after acquiring an additional 359 shares during the quarter. CIBC Asset Management Inc’s holdings in BioMarin Pharmaceutical were worth $473,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of BioMarin Pharmaceutical by 0.8% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,105 shares of the biotechnology company’s stock worth $1,483,000 after acquiring an additional 173 shares during the last quarter. Metis Global Partners LLC increased its position in BioMarin Pharmaceutical by 9.7% in the 3rd quarter. Metis Global Partners LLC now owns 5,450 shares of the biotechnology company’s stock worth $383,000 after purchasing an additional 480 shares during the last quarter. Rakuten Securities Inc. increased its position in BioMarin Pharmaceutical by 125,900.0% in the 3rd quarter. Rakuten Securities Inc. now owns 1,260 shares of the biotechnology company’s stock worth $89,000 after purchasing an additional 1,259 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of BioMarin Pharmaceutical by 4.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 456,097 shares of the biotechnology company’s stock valued at $32,059,000 after buying an additional 20,631 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter valued at approximately $246,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Up 1.4 %

Shares of NASDAQ:BMRN opened at $63.44 on Friday. The company has a market capitalization of $12.09 billion, a PE ratio of 37.99, a P/E/G ratio of 0.61 and a beta of 0.31. The company’s fifty day moving average is $68.67 and its 200-day moving average is $78.60. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27. BioMarin Pharmaceutical Inc. has a 52 week low of $61.15 and a 52 week high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The business had revenue of $746.00 million during the quarter, compared to analyst estimates of $703.37 million. During the same period in the prior year, the firm posted $0.26 EPS. BioMarin Pharmaceutical’s revenue for the quarter was up 28.4% compared to the same quarter last year. Equities research analysts predict that BioMarin Pharmaceutical Inc. will post 2.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Charles Greg Guyer sold 5,278 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total transaction of $350,300.86. Following the transaction, the executive vice president now owns 68,909 shares of the company’s stock, valued at $4,573,490.33. This represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BMRN shares. StockNews.com raised shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Barclays reduced their price objective on shares of BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. Wolfe Research assumed coverage on shares of BioMarin Pharmaceutical in a research report on Friday, November 15th. They set an “outperform” rating and a $95.00 target price on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $80.00 price target on shares of BioMarin Pharmaceutical in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company cut their price objective on BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 17th. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $94.20.

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.