Clearline Capital LP Buys 57,710 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Clearline Capital LP raised its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 18.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 377,482 shares of the biotechnology company's stock after buying an additional 57,710 shares during the period. BioMarin Pharmaceutical comprises approximately 3.3% of Clearline Capital LP's investment portfolio, making the stock its 8th biggest position. Clearline Capital LP owned approximately 0.20% of BioMarin Pharmaceutical worth $24,812,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of BMRN. Merit Financial Group LLC acquired a new position in BioMarin Pharmaceutical during the fourth quarter valued at $317,000. Assenagon Asset Management S.A. raised its stake in shares of BioMarin Pharmaceutical by 461.3% in 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 acquiring an additional 502,695 shares in the last quarter. Wedmont Private Capital acquired a new stake in shares of BioMarin Pharmaceutical in the fourth quarter worth $430,000. Swedbank AB boosted its holdings in BioMarin Pharmaceutical by 11.2% during the fourth quarter. Swedbank AB now owns 432,122 shares of the biotechnology company's stock valued at $28,403,000 after acquiring an additional 43,593 shares during the period. Finally, Rhumbline Advisers grew its holdings in BioMarin Pharmaceutical by 2.0% in the 4th quarter. Rhumbline Advisers now owns 556,255 shares of the biotechnology company's stock valued at $36,563,000 after buying an additional 11,025 shares during the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Down 1.6 %

BMRN traded down $0.96 during trading on Friday, reaching $58.86. 1,022,746 shares of the stock were exchanged, compared to its average volume of 1,866,623. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33. The stock's 50 day moving average price is $64.83 and its two-hundred day moving average price is $65.39. The stock has a market cap of $11.29 billion, a P/E ratio of 26.75, a price-to-earnings-growth ratio of 0.61 and a beta of 0.27. BioMarin Pharmaceutical Inc. has a twelve month low of $52.93 and a twelve month high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.54 by $0.18. The firm 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%. Equities analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

Insider Activity at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,295 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total value of $92,618.40. Following the completion of the transaction, the chief accounting officer now owns 16,955 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 2,912 shares of company stock worth $202,244 in the last ninety days. 0.85% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

BMRN has been the topic of several research reports. Piper Sandler boosted their price objective on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Wedbush reiterated an "outperform" rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Scotiabank lifted their price objective on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a "sector perform" rating in a research report on Thursday, February 20th. The Goldman Sachs Group decreased their price target on shares of BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Finally, UBS Group lifted their price target on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of "Moderate Buy" and a consensus price target of $93.45.

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.