Kovitz Investment Group Partners LLC Buys 1,981 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Kovitz Investment Group Partners LLC raised its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 63.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,081 shares of the biotechnology company’s stock after acquiring an additional 1,981 shares during the period. Kovitz Investment Group Partners LLC’s holdings in BioMarin Pharmaceutical were worth $357,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. AGF Management Ltd. acquired a new stake in shares of BioMarin Pharmaceutical during the second quarter worth $2,563,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter valued at about $5,627,000. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of BioMarin Pharmaceutical by 17.4% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 194,207 shares of the biotechnology company’s stock valued at $15,990,000 after purchasing an additional 28,837 shares in the last quarter. E Fund Management Co. Ltd. boosted its position in shares of BioMarin Pharmaceutical by 167.4% during the second quarter. E Fund Management Co. Ltd. now owns 13,480 shares of the biotechnology company’s stock worth $1,110,000 after buying an additional 8,438 shares during the period. Finally, EULAV Asset Management grew its holdings in shares of BioMarin Pharmaceutical by 12.9% during the third quarter. EULAV Asset Management now owns 131,000 shares of the biotechnology company’s stock worth $9,208,000 after buying an additional 15,000 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 5,278 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total transaction of $350,300.86. Following the completion of the sale, the executive vice president now directly owns 68,909 shares in the company, valued at approximately $4,573,490.33. This represents a 7.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN opened at $66.01 on Friday. The business’s 50 day moving average is $66.97 and its 200-day moving average is $77.12. The firm has a market cap of $12.58 billion, a P/E ratio of 39.53, a price-to-earnings-growth ratio of 0.65 and a beta of 0.29. BioMarin Pharmaceutical Inc. has a 1-year low of $61.15 and a 1-year high of $99.56. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The firm had revenue of $746.00 million for the quarter, compared to analyst estimates of $703.37 million. During the same period in the prior year, the business posted $0.26 EPS. The firm’s quarterly revenue was up 28.4% compared to the same quarter last year. Equities research analysts predict that BioMarin Pharmaceutical Inc. will post 2.49 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BMRN shares. Stifel Nicolaus reduced their price target on BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. UBS Group increased their target price on shares of BioMarin Pharmaceutical from $104.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Wedbush upgraded BioMarin Pharmaceutical to a “strong-buy” rating in a report on Monday, November 4th. Canaccord Genuity Group dropped their target price on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. decreased their price target on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $94.20.

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.