Soleus Capital Management L.P. Purchases New Shares in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

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

Several other large investors also recently added to or reduced their stakes in BMRN. Avanza Fonder AB bought a new stake in BioMarin Pharmaceutical during the fourth quarter valued at approximately $1,062,000. Merit Financial Group LLC bought a new stake in BioMarin Pharmaceutical during the fourth quarter valued at approximately $317,000. UMB Bank n.a. grew its position in BioMarin Pharmaceutical by 260.1% during the fourth quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company's stock valued at $67,000 after buying an additional 736 shares during the period. Perpetual Ltd bought a new stake in BioMarin Pharmaceutical during the fourth quarter valued at approximately $230,000. Finally, Exchange Traded Concepts LLC grew its position in BioMarin Pharmaceutical by 12.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 18,817 shares of the biotechnology company's stock valued at $1,237,000 after buying an additional 2,154 shares during the period. 98.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BMRN has been the subject of several recent research reports. Bank of America boosted their target price on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Scotiabank upped their price target on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 20th. Piper Sandler upped their price target on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $70.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Finally, Oppenheimer upgraded shares of 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. 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 company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $93.45.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN traded down $1.45 during midday trading on Wednesday, reaching $58.48. 2,285,224 shares of the company were exchanged, compared to its average volume of 1,873,010. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The business's fifty day moving average is $62.97 and its two-hundred day moving average is $64.91. BioMarin Pharmaceutical Inc. has a one year low of $52.93 and a one year high of $94.85. The stock has a market cap of $11.22 billion, a PE ratio of 26.58, a price-to-earnings-growth ratio of 0.61 and a beta of 0.27.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.18. The company had revenue of $747.31 million for the quarter, compared to the consensus estimate 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 predict that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Insider Activity at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,295 shares of the company's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total transaction of $92,618.40. Following the sale, the chief accounting officer now owns 16,955 shares of the company's stock, valued at $1,212,621.60. This represents a 7.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 4,698 shares of company stock valued at $308,172 over the last 90 days. 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.