BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Purchased by XTX Topco Ltd

XTX Topco Ltd grew its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 161.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,010 shares of the biotechnology company's stock after acquiring an additional 11,112 shares during the period. XTX Topco Ltd's holdings in BioMarin Pharmaceutical were worth $1,184,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of BMRN. Merit Financial Group LLC acquired a new position in BioMarin Pharmaceutical during the 4th quarter worth $317,000. Assenagon Asset Management S.A. boosted its stake in shares of BioMarin Pharmaceutical by 461.3% in 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 buying an additional 502,695 shares during the period. Wedmont Private Capital acquired a new position in shares of BioMarin Pharmaceutical during the fourth quarter worth about $430,000. Swedbank AB grew its position in shares of BioMarin Pharmaceutical by 11.2% during the fourth quarter. Swedbank AB now owns 432,122 shares of the biotechnology company's stock worth $28,403,000 after buying an additional 43,593 shares in the last quarter. Finally, Tidal Investments LLC increased its stake in shares of BioMarin Pharmaceutical by 150.4% during the third quarter. Tidal Investments LLC now owns 30,467 shares of the biotechnology company's stock worth $2,142,000 after buying an additional 18,300 shares during the period. Hedge funds and other institutional investors own 98.71% of the company's stock.

Insider Activity

In other news, CAO Erin Burkhart sold 1,344 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $68.38, for a total transaction of $91,902.72. Following the sale, the chief accounting officer now owns 13,105 shares of the company's stock, valued at $896,119.90. The trade was a 9.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.85% of the company's stock.

Wall Street Analysts Forecast Growth

BMRN has been the subject of several analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and set a $90.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Wedbush reissued an "outperform" rating and issued a $94.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Oppenheimer raised BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 price target for the company in a report on Monday, February 24th. Piper Sandler increased their price objective on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Finally, 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. Seven research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, BioMarin Pharmaceutical currently has a consensus rating of "Moderate Buy" and an average target price of $94.00.

BioMarin Pharmaceutical Stock Performance

BMRN traded up $0.35 during trading on Friday, reaching $59.17. The company's stock had a trading volume of 1,247,162 shares, compared to its average volume of 1,886,222. 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 company's fifty day moving average price is $66.74 and its 200-day moving average price is $66.24. BioMarin Pharmaceutical Inc. has a 52-week low of $52.93 and a 52-week high of $94.85. The company has a market capitalization of $11.29 billion, a price-to-earnings ratio of 26.90, 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 quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.54 by $0.18. The firm had revenue of $747.31 million for the quarter, compared to the consensus estimate of $711.05 million. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. On average, equities analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal year.

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.