BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc grew its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 13.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 7,657 shares of the biotechnology company’s stock after acquiring an additional 926 shares during the quarter. CIBC Asset Management Inc’s holdings in BioMarin Pharmaceutical were worth $503,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Fifth Third Bancorp boosted its position in BioMarin Pharmaceutical by 13.9% during the 4th quarter. Fifth Third Bancorp now owns 1,351 shares of the biotechnology company’s stock worth $89,000 after acquiring an additional 165 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its position in BioMarin Pharmaceutical by 0.8% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,105 shares of the biotechnology company’s stock worth $1,483,000 after acquiring an additional 173 shares during the period. Advisors Asset Management Inc. boosted its position in BioMarin Pharmaceutical by 1.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 11,451 shares of the biotechnology company’s stock worth $805,000 after acquiring an additional 180 shares during the period. TD Private Client Wealth LLC raised its stake in shares of BioMarin Pharmaceutical by 57.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after buying an additional 186 shares in the last quarter. Finally, First Hawaiian Bank raised its stake in shares of BioMarin Pharmaceutical by 1.4% in the 4th quarter. First Hawaiian Bank now owns 14,700 shares of the biotechnology company’s stock worth $966,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wolfe Research assumed coverage on BioMarin Pharmaceutical in a research note on Friday, November 15th. They issued an “outperform” rating and a $95.00 price objective on the stock. UBS Group boosted their price objective on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a research note on Thursday. Scotiabank boosted their price objective on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Thursday. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday. Finally, Canaccord Genuity Group cut their target price on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. 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’s stock. According to MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.81.

BioMarin Pharmaceutical Stock Performance

BMRN opened at $68.25 on Friday. The company has a market cap of $13.01 billion, a PE ratio of 31.02, a price-to-earnings-growth ratio of 0.61 and a beta of 0.28. The stock has a 50-day moving average of $64.88 and a 200-day moving average of $70.96. BioMarin Pharmaceutical Inc. has a 52-week low of $60.63 and a 52-week high of $94.85. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.18. The company had revenue of $747.31 million during 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%. As a group, equities research 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.