Townsquare Capital LLC Purchases New Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Townsquare Capital LLC bought a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 4,501 shares of the biotechnology company's stock, valued at approximately $296,000.

A number of other large investors have also recently modified their holdings of the stock. Norges Bank bought a new stake in shares of BioMarin Pharmaceutical during the 4th quarter valued at $234,645,000. Assenagon Asset Management S.A. lifted its position in BioMarin Pharmaceutical by 461.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company's stock valued at $40,205,000 after acquiring an additional 502,695 shares during the period. Candriam S.C.A. boosted its stake in BioMarin Pharmaceutical by 77.2% during the fourth quarter. Candriam S.C.A. now owns 580,222 shares of the biotechnology company's stock worth $38,138,000 after acquiring an additional 252,820 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in BioMarin Pharmaceutical by 206.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,496 shares of the biotechnology company's stock worth $23,432,000 after purchasing an additional 240,239 shares during the period. Finally, Tredje AP fonden increased its stake in shares of BioMarin Pharmaceutical by 662.6% during the fourth quarter. Tredje AP fonden now owns 223,664 shares of the biotechnology company's stock valued at $14,701,000 after purchasing an additional 194,334 shares in the last quarter. Institutional investors own 98.71% of the company's stock.

BioMarin Pharmaceutical Stock Performance

BMRN traded up $0.56 during midday trading on Friday, reaching $63.30. The company had a trading volume of 750,685 shares, compared to its average volume of 1,868,520. The business has a 50-day moving average of $66.40 and a two-hundred day moving average of $66.02. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 1 year low of $52.93 and a 1 year high of $94.85. The company has a market cap of $12.08 billion, a P/E ratio of 28.77, a P/E/G ratio of 0.61 and a beta of 0.30.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last announced its quarterly earnings data 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. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. The company had revenue of $747.31 million during the quarter, compared to the consensus estimate of $711.05 million. As a group, equities research analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BMRN has been the topic of several recent research reports. Bank of America upped their price target on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Cantor Fitzgerald restated an "overweight" rating and set a $90.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Piper Sandler lifted their price target on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Scotiabank increased their price objective on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a "sector perform" rating in a research report on Thursday, February 20th. Finally, Citigroup lifted their target price on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $94.00.

Insiders Place Their Bets

In other news, CAO Erin Burkhart sold 1,295 shares of the business's stock in a transaction 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 of the company's stock, valued at approximately $1,212,621.60. The trade was a 7.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.85% of the stock is currently 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.