1,001,400 Shares in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Acquired by Soleus Capital Management L.P.

Soleus Capital Management L.P. bought a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,001,400 shares of the biotechnology company's stock, valued at approximately $65,822,000. BioMarin Pharmaceutical comprises approximately 4.1% of Soleus Capital Management L.P.'s holdings, making the stock its 4th largest position. Soleus Capital Management L.P. owned 0.53% of BioMarin Pharmaceutical as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Triglav Skladi D.O.O. bought a new position in BioMarin Pharmaceutical during the fourth quarter worth $1,085,000. State of Wyoming lifted its stake in shares of BioMarin Pharmaceutical by 554.1% during the 4th quarter. State of Wyoming now owns 4,703 shares of the biotechnology company's stock worth $309,000 after buying an additional 3,984 shares during the last quarter. Toronto Dominion Bank boosted its holdings in shares of BioMarin Pharmaceutical by 3.8% during the 4th quarter. Toronto Dominion Bank now owns 24,862 shares of the biotechnology company's stock worth $1,634,000 after buying an additional 920 shares during the period. Siemens Fonds Invest GmbH bought a new stake in shares of BioMarin Pharmaceutical during the 4th quarter worth about $821,000. Finally, Shell Asset Management Co. boosted its holdings in shares of BioMarin Pharmaceutical by 90.2% during the 4th quarter. Shell Asset Management Co. now owns 4,783 shares of the biotechnology company's stock worth $314,000 after buying an additional 2,268 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on BMRN shares. The Goldman Sachs Group reduced their target price on shares of BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating for the company in a report on Monday, May 5th. UBS Group lifted their target price on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Bank of America lifted their target price on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $90.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Finally, Piper Sandler lifted their target price on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an "overweight" rating in a 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 issued a strong buy rating to the stock. According to data from MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of "Moderate Buy" and an average price target of $93.45.

Insider Activity

In other news, CAO Erin Burkhart sold 1,786 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $59.31, for a total value of $105,927.66. Following the completion of the transaction, the chief accounting officer now directly owns 14,173 shares in the company, valued at approximately $840,600.63. The trade was a 11.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 4,698 shares of company stock worth $308,172. 0.85% of the stock is currently owned by corporate insiders.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN traded down $0.46 during midday trading on Friday, hitting $57.55. The stock had a trading volume of 1,732,309 shares, compared to its average volume of 1,867,263. The company's 50-day moving average price is $62.42 and its 200-day moving average price is $64.80. The company 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 company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a fifty-two week low of $52.93 and a fifty-two week high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last issued its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.54 by $0.18. The company 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, equities research analysts predict 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.