Dimensional Fund Advisors LP Buys 71,853 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Dimensional Fund Advisors LP boosted its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 11.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 704,953 shares of the biotechnology company’s stock after buying an additional 71,853 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.37% of BioMarin Pharmaceutical worth $67,975,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in BMRN. Stratos Wealth Partners LTD. increased its position in shares of BioMarin Pharmaceutical by 2.1% during the fourth quarter. Stratos Wealth Partners LTD. now owns 5,709 shares of the biotechnology company’s stock worth $550,000 after acquiring an additional 115 shares during the period. KB Financial Partners LLC increased its holdings in BioMarin Pharmaceutical by 51.3% during the 3rd quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 118 shares during the period. First Horizon Advisors Inc. raised its position in BioMarin Pharmaceutical by 33.3% during the 4th quarter. First Horizon Advisors Inc. now owns 576 shares of the biotechnology company’s stock valued at $56,000 after purchasing an additional 144 shares in the last quarter. Atria Wealth Solutions Inc. lifted its holdings in shares of BioMarin Pharmaceutical by 1.6% in the 4th quarter. Atria Wealth Solutions Inc. now owns 9,729 shares of the biotechnology company’s stock worth $938,000 after buying an additional 153 shares during the period. Finally, CWM LLC grew its position in shares of BioMarin Pharmaceutical by 12.6% during the 4th quarter. CWM LLC now owns 1,465 shares of the biotechnology company’s stock worth $141,000 after buying an additional 164 shares in the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BMRN has been the subject of several recent research reports. Robert W. Baird lowered shares of BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $104.00 to $72.00 in a research note on Friday, May 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $100.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Baird R W downgraded shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 17th. Canaccord Genuity Group reduced their price objective on shares of BioMarin Pharmaceutical from $91.00 to $89.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Finally, Piper Sandler dropped their target price on BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.11.

Insiders Place Their Bets

In other news, CAO Erin Burkhart sold 2,286 shares of the stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $90.00, for a total value of $205,740.00. Following the transaction, the chief accounting officer now directly owns 16,156 shares of the company’s stock, valued at $1,454,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Erin Burkhart sold 2,286 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $90.00, for a total value of $205,740.00. Following the sale, the chief accounting officer now owns 16,156 shares in the company, valued at $1,454,040. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jean Jacques Bienaime sold 20,000 shares of the stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $91.26, for a total transaction of $1,825,200.00. Following the completion of the transaction, the director now owns 474,994 shares in the company, valued at approximately $43,347,952.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,079 shares of company stock valued at $9,528,436. 1.85% of the stock is owned by company insiders.

BioMarin Pharmaceutical Stock Down 0.5 %

NASDAQ:BMRN opened at $75.52 on Friday. The company has a current ratio of 2.74, a quick ratio of 1.70 and a debt-to-equity ratio of 0.12. BioMarin Pharmaceutical Inc. has a twelve month low of $75.03 and a twelve month high of $99.56. The company has a market cap of $14.34 billion, a PE ratio of 70.58, a P/E/G ratio of 1.08 and a beta of 0.34. The company’s 50 day moving average is $84.63 and its two-hundred day moving average is $88.71.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.37 by $0.12. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.34%. The business had revenue of $648.83 million during the quarter, compared to the consensus estimate of $649.75 million. Analysts anticipate that BioMarin Pharmaceutical Inc. will post 1.99 EPS for the current year.

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.