Syon Capital LLC Buys Shares of 7,908 BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Syon Capital LLC purchased a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the fourth quarter, Holdings Channel.com reports. The fund purchased 7,908 shares of the biotechnology company’s stock, valued at approximately $520,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Merit Financial Group LLC acquired a new position in BioMarin Pharmaceutical during the fourth quarter worth about $317,000. Assenagon Asset Management S.A. grew its holdings in shares of BioMarin Pharmaceutical by 461.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company’s stock valued at $40,205,000 after purchasing an additional 502,695 shares during the last quarter. Wedmont Private Capital acquired a new position in BioMarin Pharmaceutical during the 4th quarter worth approximately $430,000. Swedbank AB lifted its stake in BioMarin Pharmaceutical by 11.2% in the 4th quarter. Swedbank AB now owns 432,122 shares of the biotechnology company’s stock valued at $28,403,000 after purchasing an additional 43,593 shares during the last quarter. Finally, Tidal Investments LLC boosted its position in BioMarin Pharmaceutical by 150.4% in the third quarter. Tidal Investments LLC now owns 30,467 shares of the biotechnology company’s stock valued at $2,142,000 after buying an additional 18,300 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CAO Erin Burkhart sold 1,295 shares of the business’s 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 sale, the chief accounting officer now owns 16,955 shares in the company, valued at $1,212,621.60. The trade was a 7.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.85% of the stock is owned by company insiders.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN opened at $62.74 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. BioMarin Pharmaceutical Inc. has a twelve month low of $52.93 and a twelve month high of $94.85. The company has a fifty day moving average of $66.44 and a 200-day moving average of $66.06. The firm has a market capitalization of $11.97 billion, a P/E ratio of 28.52, a P/E/G ratio of 0.61 and a beta of 0.30.

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

Analysts Set New Price Targets

BMRN has been the subject of a number of research reports. StockNews.com cut BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 17th. Citigroup increased their target price on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. UBS Group boosted their price target on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Wedbush reiterated an “outperform” rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.00.

BioMarin Pharmaceutical Company 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.