Renaissance Technologies LLC Has $28.65 Million Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Renaissance Technologies LLC lifted its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 4.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 435,871 shares of the biotechnology company's stock after acquiring an additional 17,000 shares during the period. Renaissance Technologies LLC owned 0.23% of BioMarin Pharmaceutical worth $28,650,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of BioMarin Pharmaceutical by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 19,372,185 shares of the biotechnology company's stock valued at $1,273,334,000 after buying an additional 93,531 shares during the period. Norges Bank purchased a new stake in BioMarin Pharmaceutical during the fourth quarter valued at about $234,645,000. Geode Capital Management LLC increased its stake in BioMarin Pharmaceutical by 0.9% during 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 during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of BioMarin Pharmaceutical by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,423,508 shares of the biotechnology company's stock worth $93,567,000 after purchasing an additional 21,880 shares during the period. Finally, abrdn plc lifted its stake in shares of BioMarin Pharmaceutical by 31.9% in the 4th quarter. abrdn plc now owns 695,802 shares of the biotechnology company's stock valued at $45,735,000 after purchasing an additional 168,121 shares in the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on BMRN. Scotiabank raised their price target on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a "sector perform" rating in a report on Thursday, February 20th. Wedbush restated an "outperform" rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. StockNews.com downgraded BioMarin Pharmaceutical from a "strong-buy" rating to a "buy" rating in a report on Thursday. Piper Sandler boosted their price objective on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $70.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, BioMarin Pharmaceutical has a consensus rating of "Moderate Buy" and an average price target of $94.00.

BioMarin Pharmaceutical Price Performance

Shares of BMRN stock traded up $0.59 during midday trading on Thursday, reaching $59.41. 257,473 shares of the company were exchanged, compared to its average volume of 1,875,863. The company's 50 day moving average price is $66.91 and its two-hundred day moving average price is $66.43. The company has a market cap of $11.33 billion, a P/E ratio of 26.98, a PEG ratio of 0.61 and a beta of 0.30. BioMarin Pharmaceutical Inc. has a 12 month low of $52.93 and a 12 month 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.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last announced its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.54 by $0.18. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. The firm had revenue of $747.31 million for the quarter, compared to analysts' expectations of $711.05 million. On average, sell-side analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Erin Burkhart sold 1,295 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total value of $92,618.40. Following the completion of the sale, the chief accounting officer now owns 16,955 shares in the company, 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 at this link. 1.85% of the stock is owned by company 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.