Voloridge Investment Management LLC Grows Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Voloridge Investment Management LLC boosted its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 461.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 271,298 shares of the biotechnology company's stock after buying an additional 222,958 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.14% of BioMarin Pharmaceutical worth $17,832,000 at the end of the most recent reporting period.

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

BioMarin Pharmaceutical Stock Down 0.1%

Shares of NASDAQ:BMRN traded down $0.06 during trading on Wednesday, reaching $58.05. 564,148 shares of the stock traded hands, compared to its average volume of 1,868,805. The stock has a 50-day moving average of $61.88 and a two-hundred day moving average of $64.66. BioMarin Pharmaceutical Inc. has a 52-week low of $52.93 and a 52-week 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 stock has a market cap of $11.13 billion, a P/E ratio of 26.35, a price-to-earnings-growth ratio of 0.61 and a beta of 0.27.

Analysts Set New Price Targets

Several research firms have weighed in on BMRN. Royal Bank of Canada restated a "sector perform" rating and set a $70.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. UBS Group raised their target price on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Wall Street Zen upgraded BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a report on Friday, April 25th. Wedbush reiterated an "outperform" rating and set a $94.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Finally, Piper Sandler raised their price target on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $93.45.

Insider Activity

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,786 shares of the 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 transaction, the chief accounting officer now directly owns 14,173 shares in the company, valued at approximately $840,600.63. This trade represents a 11.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 3,354 shares of company stock worth $216,269 over the last 90 days. 0.85% of the stock is currently owned by insiders.

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.