MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 13,560 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 30.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 57,607 shares of the biotechnology company's stock after acquiring an additional 13,560 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in BioMarin Pharmaceutical were worth $3,784,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. LRI Investments LLC boosted its holdings in BioMarin Pharmaceutical by 856.9% in the fourth quarter. LRI Investments LLC now owns 488 shares of the biotechnology company's stock worth $32,000 after acquiring an additional 437 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in BioMarin Pharmaceutical in the fourth quarter worth approximately $36,000. CIBC Private Wealth Group LLC boosted its holdings in BioMarin Pharmaceutical by 64.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company's stock worth $41,000 after acquiring an additional 233 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings 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 valued at $58,000 after purchasing an additional 466 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of BioMarin Pharmaceutical by 260.1% in the fourth quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company's stock valued at $67,000 after purchasing an additional 736 shares in the last quarter. Institutional investors own 98.71% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BMRN shares. Piper Sandler raised their target price on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Royal Bank of Canada restated a "sector perform" rating and issued a $70.00 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 company a "buy" rating in a report on Thursday, February 20th. Scotiabank raised their target price on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a "sector perform" rating in a report on Thursday, February 20th. Finally, Bank of America raised their target price on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating, seventeen have issued 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 a consensus price target of $93.45.

Insider Activity

In other news, CAO Erin Burkhart sold 1,344 shares of BioMarin Pharmaceutical stock in a transaction on Monday, February 24th. The stock was sold at an average price of $68.38, for a total value of $91,902.72. Following the completion of the transaction, the chief accounting officer now directly owns 13,105 shares in the company, valued at approximately $896,119.90. The trade was a 9.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 2,912 shares of company stock worth $202,244. 0.85% of the stock is owned by corporate insiders.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN opened at $59.41 on Tuesday. 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 business has a fifty day simple moving average of $63.41 and a two-hundred day simple moving average of $64.99. BioMarin Pharmaceutical Inc. has a 1 year low of $52.93 and a 1 year high of $94.85. The company has a market capitalization of $11.39 billion, a P/E ratio of 27.00, a P/E/G ratio of 0.61 and a beta of 0.27.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last released its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, topping 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 business had revenue of $747.31 million during the quarter, compared to the consensus estimate of $711.05 million. On average, analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

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.

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