Quantinno Capital Management LP Invests $384,000 in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Quantinno Capital Management LP purchased a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,848 shares of the biotechnology company's stock, valued at approximately $384,000.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of 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 during the last quarter. Dodge & Cox raised its position in BioMarin Pharmaceutical by 6.1% in the fourth quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company's stock worth $969,270,000 after acquiring an additional 847,917 shares in the last quarter. Capital Research Global Investors raised its position in 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 acquiring an additional 2,496,817 shares in the last quarter. Norges Bank purchased a new position in BioMarin Pharmaceutical in the fourth quarter worth $234,645,000. Finally, Geode Capital Management LLC raised its position in 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 worth $215,784,000 after acquiring an additional 28,728 shares in the last quarter. Hedge funds and other institutional investors own 98.71% of the company's stock.

BioMarin Pharmaceutical Price Performance

Shares of BMRN traded down $0.02 during trading hours on Wednesday, reaching $58.09. 2,099,966 shares of the company traded hands, compared to its average volume of 1,874,678. 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 stock has a market capitalization of $11.14 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 0.61 and a beta of 0.27. BioMarin Pharmaceutical Inc. has a fifty-two week low of $52.93 and a fifty-two week high of $94.85. The stock has a fifty day simple moving average of $61.88 and a 200 day simple moving average of $64.66.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,786 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $59.31, for a total value of $105,927.66. Following the sale, the chief accounting officer now directly owns 14,173 shares of the company's stock, valued at approximately $840,600.63. This trade represents a 11.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 3,354 shares of company stock valued at $216,269. Insiders own 0.85% of the company's stock.

Wall Street Analyst Weigh In

BMRN has been the subject of several research analyst reports. Piper Sandler increased their price objective on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Citigroup cut their price objective on BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Cantor Fitzgerald reiterated an "overweight" rating and issued a $90.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $70.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Finally, Wedbush reiterated an "outperform" rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Six research 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 stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of "Moderate Buy" and a consensus target price 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.