BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp increased its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 203.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 220,661 shares of the biotechnology company's stock after purchasing an additional 147,927 shares during the quarter. Mackenzie Financial Corp owned approximately 0.12% of BioMarin Pharmaceutical worth $14,504,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB grew its holdings in shares of BioMarin Pharmaceutical by 11.2% during the fourth quarter. Swedbank AB now owns 432,122 shares of the biotechnology company's stock worth $28,403,000 after buying an additional 43,593 shares in the last quarter. Vestal Point Capital LP boosted its position in BioMarin Pharmaceutical by 115.0% during the fourth quarter. Vestal Point Capital LP now owns 860,000 shares of the biotechnology company's stock worth $56,528,000 after acquiring an additional 460,000 shares during the last quarter. Rhumbline Advisers grew its stake in BioMarin Pharmaceutical by 2.0% during the 4th quarter. Rhumbline Advisers now owns 556,255 shares of the biotechnology company's stock valued at $36,563,000 after acquiring an additional 11,025 shares in the last quarter. Mediolanum International Funds Ltd acquired a new stake in BioMarin Pharmaceutical in the 4th quarter valued at about $1,237,000. Finally, Empowered Funds LLC purchased a new position in BioMarin Pharmaceutical in the 4th quarter worth approximately $257,000. 98.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BMRN has been the subject of a number of analyst reports. The Goldman Sachs Group dropped their price target on BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Cantor Fitzgerald restated an "overweight" rating and issued a $90.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. UBS Group raised their target price on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Citigroup reduced their price target on BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Finally, Oppenheimer raised shares of 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. Six research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $93.45.

BioMarin Pharmaceutical Trading Down 0.9%

NASDAQ BMRN traded down $0.53 during trading on Friday, hitting $58.02. The stock had a trading volume of 2,197,464 shares, compared to its average volume of 1,877,350. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $11.13 billion, a PE ratio of 26.37, a PEG ratio of 0.61 and a beta of 0.27. The firm has a 50 day moving average price of $61.35 and a 200 day moving average price of $64.56. BioMarin Pharmaceutical Inc. has a twelve month low of $52.93 and a twelve month high of $94.85.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,295 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 16,955 shares of the company's stock, valued at approximately $1,212,621.60. This represents a 7.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders sold 3,354 shares of company stock valued at $216,269 in the last three months. 0.85% of the stock is owned by corporate insiders.

BioMarin Pharmaceutical 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.