Hudson Bay Capital Management LP Acquires 18,800 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Hudson Bay Capital Management LP boosted its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 460,000 shares of the biotechnology company's stock after buying an additional 18,800 shares during the period. Hudson Bay Capital Management LP owned approximately 0.24% of BioMarin Pharmaceutical worth $30,236,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BMRN. Oregon Public Employees Retirement Fund lifted its holdings in shares of BioMarin Pharmaceutical by 0.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 38,738 shares of the biotechnology company's stock valued at $2,546,000 after acquiring an additional 164 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of BioMarin Pharmaceutical by 13.9% during the fourth quarter. Fifth Third Bancorp now owns 1,351 shares of the biotechnology company's stock valued at $89,000 after buying an additional 165 shares during the last quarter. Freedom Investment Management Inc. increased its stake in BioMarin Pharmaceutical by 3.8% in the fourth quarter. Freedom Investment Management Inc. now owns 5,022 shares of the biotechnology company's stock worth $330,000 after purchasing an additional 184 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in BioMarin Pharmaceutical by 64.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company's stock valued at $41,000 after buying an additional 233 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of BioMarin Pharmaceutical by 27.5% in the fourth quarter. Blue Trust Inc. now owns 1,095 shares of the biotechnology company's stock valued at $77,000 after purchasing an additional 236 shares during the period. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Price Performance

Shares of BMRN traded up $1.24 during mid-day trading on Friday, hitting $59.51. The company's stock had a trading volume of 1,401,598 shares, compared to its average volume of 1,871,843. The firm has a 50-day simple moving average of $63.85 and a 200 day simple moving average of $65.13. The firm has a market capitalization of $11.41 billion, a P/E ratio of 27.05, a P/E/G ratio of 0.61 and a beta of 0.27. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 1-year low of $52.93 and a 1-year high of $94.85.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BMRN. Oppenheimer raised shares of BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 price objective on the stock in a research report on Monday, February 24th. UBS Group raised their price target 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. The Goldman Sachs Group dropped their price objective on shares of BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Piper Sandler increased their price objective on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Finally, Wedbush restated an "outperform" rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, BioMarin Pharmaceutical has a consensus rating of "Moderate Buy" and an average target price of $93.45.

Insider Activity

In related news, CAO Erin Burkhart sold 1,295 shares of the firm's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total value of $92,618.40. Following the transaction, the chief accounting officer now directly owns 16,955 shares in the company, valued at approximately $1,212,621.60. This trade represents a 7.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders sold 2,912 shares of company stock worth $202,244. Insiders own 0.85% of the company's stock.

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.