MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $3.78 Million Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 30.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,607 shares of the biotechnology company's stock after purchasing an additional 13,560 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in BioMarin Pharmaceutical were worth $3,784,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BMRN. Vanguard Group Inc. lifted its stake in BioMarin Pharmaceutical by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 19,372,185 shares of the biotechnology company's stock worth $1,273,334,000 after purchasing an additional 93,531 shares in the last quarter. Dodge & Cox grew its holdings in shares of BioMarin Pharmaceutical by 6.1% during the 4th quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company's stock worth $969,270,000 after purchasing an additional 847,917 shares in the last quarter. Capital Research Global Investors grew its stake in shares of BioMarin Pharmaceutical by 23.8% in the fourth quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company's stock worth $853,944,000 after purchasing an additional 2,496,817 shares during the last quarter. Norges Bank bought a new stake in BioMarin Pharmaceutical in the 4th quarter worth about $234,645,000. Finally, Geode Capital Management LLC boosted its holdings in shares of BioMarin Pharmaceutical by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 3,288,778 shares of the biotechnology company's stock valued at $215,784,000 after purchasing an additional 28,728 shares during the period. Institutional investors own 98.71% of the company's stock.

Insider Activity

In related news, CAO Erin Burkhart sold 1,344 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $68.38, for a total value of $91,902.72. Following the transaction, the chief accounting officer now owns 13,105 shares in the company, valued at approximately $896,119.90. This trade represents a 9.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 4,698 shares of company stock worth $308,172 in the last three months. Company insiders own 0.85% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Oppenheimer raised BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 price target for the company in a research report on Monday, February 24th. Wedbush reissued an "outperform" rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Citigroup cut their target price on BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Piper Sandler upped 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, Royal Bank of Canada restated a "sector perform" rating and set a $70.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $93.45.

BioMarin Pharmaceutical Trading Down 0.8%

NASDAQ BMRN traded down $0.46 during trading hours on Friday, hitting $57.55. 1,732,309 shares of the company's stock were exchanged, compared to its average volume of 1,866,614. BioMarin Pharmaceutical Inc. has a 12-month low of $52.93 and a 12-month high of $94.85. 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 firm has a market capitalization of $11.04 billion, a P/E ratio of 26.16, a price-to-earnings-growth ratio of 0.61 and a beta of 0.27. The business's 50 day moving average is $62.42 and its 200-day moving average is $64.77.

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 the consensus estimate of $0.54 by $0.18. The firm had revenue of $747.31 million during the quarter, compared to analysts' expectations of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. As a group, analysts anticipate that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.

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.