Tower Research Capital LLC TRC Raises Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Tower Research Capital LLC TRC boosted its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 376.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,992 shares of the biotechnology company's stock after acquiring an additional 13,426 shares during the quarter. Tower Research Capital LLC TRC's holdings in BioMarin Pharmaceutical were worth $1,117,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at about $36,000. CIBC Private Wealth Group LLC increased its position in shares of BioMarin Pharmaceutical by 64.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company's stock valued at $41,000 after acquiring an additional 233 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of BioMarin Pharmaceutical by 111.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company's stock valued at $58,000 after acquiring an additional 466 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of BioMarin Pharmaceutical by 260.1% during the fourth quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company's stock worth $67,000 after purchasing an additional 736 shares during the period. Finally, Blue Trust Inc. lifted its holdings in BioMarin Pharmaceutical by 27.5% in the 4th quarter. Blue Trust Inc. now owns 1,095 shares of the biotechnology company's stock worth $77,000 after buying an additional 236 shares during the period. Hedge funds and other institutional investors own 98.71% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BMRN shares. StockNews.com raised shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 25th. Oppenheimer upgraded BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 target price for the company in a research note on Monday, February 24th. UBS Group increased their price objective on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a "buy" rating in a 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 note 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 company an "overweight" rating in a report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $93.14.

BioMarin Pharmaceutical Price Performance

Shares of BioMarin Pharmaceutical stock traded up $0.14 on Wednesday, hitting $63.42. 165,410 shares of the company traded hands, compared to its average volume of 1,856,035. 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 business has a 50-day simple moving average of $66.24 and a 200 day simple moving average of $65.90. BioMarin Pharmaceutical Inc. has a 52 week low of $52.93 and a 52 week high of $94.85. The stock has a market capitalization of $12.10 billion, a P/E ratio of 28.75, a price-to-earnings-growth ratio of 0.61 and a beta of 0.30.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.54 by $0.18. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. The business had revenue of $747.31 million during the quarter, compared to the consensus estimate of $711.05 million. Research analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal year.

Insider Transactions at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,295 shares of the company's stock in a transaction dated 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 directly owns 16,955 shares in the company, valued at approximately $1,212,621.60. This represents a 7.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.85% of the company's stock.

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.