Credit Industriel ET Commercial Purchases Shares of 35,013 BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Credit Industriel ET Commercial purchased a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 35,013 shares of the biotechnology company's stock, valued at approximately $2,301,000.

A number of other institutional investors and hedge funds also recently modified their holdings of BMRN. SBI Securities Co. Ltd. acquired a new position in BioMarin Pharmaceutical during the fourth quarter valued at $36,000. CIBC Private Wealth Group LLC increased its holdings in shares of BioMarin Pharmaceutical by 64.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company's stock valued at $41,000 after purchasing an additional 233 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of BioMarin Pharmaceutical by 111.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company's stock worth $58,000 after purchasing an additional 466 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of BioMarin Pharmaceutical by 260.1% during the fourth quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company's stock worth $67,000 after purchasing an additional 736 shares during the period. Finally, Blue Trust Inc. grew its position in BioMarin Pharmaceutical by 27.5% during 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 in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BMRN shares. Oppenheimer upgraded BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 price objective for the company in a report on Monday, February 24th. Royal Bank of Canada restated a "sector perform" rating and set a $70.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Piper Sandler boosted their target price on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. UBS Group upped their price target on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Finally, Bank of America lifted their price target on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of "Moderate Buy" and an average target price of $93.14.

BioMarin Pharmaceutical Trading Up 1.2 %

BioMarin Pharmaceutical stock traded up $0.75 during mid-day trading on Tuesday, hitting $63.73. The stock had a trading volume of 466,723 shares, compared to its average volume of 1,860,344. The stock has a market capitalization of $12.16 billion, a PE ratio of 28.99, a P/E/G ratio of 0.61 and a beta of 0.30. BioMarin Pharmaceutical Inc. has a 12 month low of $52.93 and a 12 month high of $94.85. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The stock has a 50-day simple moving average of $66.35 and a two-hundred day simple moving average of $65.91.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted its 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 return on equity of 9.91% and a net margin of 14.96%. The firm had revenue of $747.31 million during the quarter, compared to analysts' expectations of $711.05 million. As a group, sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,295 shares of BioMarin Pharmaceutical 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 sale, the chief accounting officer now owns 16,955 shares of the company's stock, valued at $1,212,621.60. This trade represents a 7.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.85% of the stock is currently owned by company insiders.

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.