Gabelli Funds LLC Purchases 7,500 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Gabelli Funds LLC grew its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 58.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,339 shares of the biotechnology company's stock after purchasing an additional 7,500 shares during the period. Gabelli Funds LLC's holdings in BioMarin Pharmaceutical were worth $1,337,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MML Investors Services LLC raised its stake in shares of BioMarin Pharmaceutical by 8.1% during the third quarter. MML Investors Services LLC now owns 7,621 shares of the biotechnology company's stock valued at $536,000 after acquiring an additional 572 shares during the last quarter. Virtu Financial LLC bought a new position in BioMarin Pharmaceutical during the 3rd quarter worth $809,000. Tidal Investments LLC raised its position in BioMarin Pharmaceutical by 150.4% during the 3rd quarter. Tidal Investments LLC now owns 30,467 shares of the biotechnology company's stock worth $2,142,000 after purchasing an additional 18,300 shares during the last quarter. Synovus Financial Corp lifted its holdings in BioMarin Pharmaceutical by 25.7% during the 3rd quarter. Synovus Financial Corp now owns 30,253 shares of the biotechnology company's stock worth $2,127,000 after buying an additional 6,191 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of BioMarin Pharmaceutical by 57.5% in the 4th quarter. GAMMA Investing LLC now owns 1,232 shares of the biotechnology company's stock valued at $81,000 after buying an additional 450 shares during the last quarter. 98.71% of the stock is owned by institutional investors.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ:BMRN traded up $0.22 during midday trading on Friday, reaching $62.96. 174,883 shares of the company traded hands, compared to its average volume of 1,890,254. BioMarin Pharmaceutical Inc. has a 12 month low of $52.93 and a 12 month high of $94.85. The firm's fifty day moving average price is $66.44 and its two-hundred day moving average price is $66.06. 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 firm has a market capitalization of $12.01 billion, a price-to-earnings ratio of 28.59, a price-to-earnings-growth ratio of 0.61 and a beta of 0.30.

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 for the quarter, topping analysts' consensus estimates of $0.54 by $0.18. The business had revenue of $747.31 million for the quarter, compared to analyst estimates of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. On average, equities analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Insider Activity

In other news, CAO Erin Burkhart sold 1,295 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total value of $92,618.40. Following the transaction, the chief accounting officer now owns 16,955 shares in the company, valued at approximately $1,212,621.60. This represents a 7.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.85% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on BMRN shares. StockNews.com lowered BioMarin Pharmaceutical from a "strong-buy" rating to a "buy" rating in a research note on Thursday, April 17th. Royal Bank of Canada restated a "sector perform" rating and issued a $70.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Bank of America increased their price objective on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. 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, Oppenheimer upgraded BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 target price on the stock in a research report on Monday, February 24th. Seven investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of "Moderate Buy" and a consensus price target of $94.00.

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.