Northern Trust Corp Grows Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Northern Trust Corp increased its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 16.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,725,039 shares of the biotechnology company's stock after acquiring an additional 240,681 shares during the period. Northern Trust Corp owned about 0.91% of BioMarin Pharmaceutical worth $113,387,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BMRN. Norges Bank bought a new position in shares of BioMarin Pharmaceutical during the fourth quarter valued at approximately $234,645,000. Capital Research Global Investors raised its holdings in BioMarin Pharmaceutical by 23.8% in the 4th quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company's stock worth $853,944,000 after purchasing an additional 2,496,817 shares in the last quarter. Dodge & Cox lifted its position in shares of BioMarin Pharmaceutical by 6.1% in the 4th quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company's stock worth $969,270,000 after purchasing an additional 847,917 shares during the period. Marshall Wace LLP purchased a new stake in shares of BioMarin Pharmaceutical in the 4th quarter worth about $44,735,000. Finally, Assenagon Asset Management S.A. boosted its stake 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 in the last quarter. Hedge funds and other institutional investors own 98.71% of the company's stock.

BioMarin Pharmaceutical Stock Down 0.8 %

NASDAQ BMRN traded down $0.46 on Friday, hitting $59.36. The stock had a trading volume of 297,126 shares, compared to its average volume of 1,859,619. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. The stock has a market cap of $11.38 billion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth ratio of 0.61 and a beta of 0.27. BioMarin Pharmaceutical Inc. has a 52-week low of $52.93 and a 52-week high of $94.85. The business's fifty day moving average price is $65.06 and its 200 day moving average price is $65.50.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.18. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. The business had revenue of $747.31 million for the quarter, compared to analyst estimates of $711.05 million. Equities research analysts anticipate that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,295 shares of the company'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 value of $92,618.40. Following the sale, the chief accounting officer now owns 16,955 shares in the company, valued at approximately $1,212,621.60. This represents a 7.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last quarter, insiders sold 2,912 shares of company stock worth $202,244. Insiders own 0.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BMRN. UBS Group raised their price objective on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Oppenheimer upgraded BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 target price for the company in a research note on Monday, February 24th. Wedbush reaffirmed an "outperform" rating and issued a $94.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. The Goldman Sachs Group lowered their price objective on BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating for the company in a research report on Monday. Finally, Citigroup reduced their target price on shares of BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $93.45.

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.