Connor Clark & Lunn Investment Management Ltd. Has $23.43 Million Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Connor Clark & Lunn Investment Management Ltd. grew its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 206.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 356,496 shares of the biotechnology company’s stock after acquiring an additional 240,239 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in BioMarin Pharmaceutical were worth $23,432,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Primecap Management Co. CA grew its holdings in shares of BioMarin Pharmaceutical by 0.4% in the 3rd quarter. Primecap Management Co. CA now owns 18,867,435 shares of the biotechnology company’s stock valued at $1,326,192,000 after buying an additional 77,350 shares during the period. Geode Capital Management LLC boosted its stake in BioMarin Pharmaceutical by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,260,050 shares of the biotechnology company’s stock worth $228,632,000 after purchasing an additional 60,692 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in BioMarin Pharmaceutical by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,423,508 shares of the biotechnology company’s stock worth $93,567,000 after purchasing an additional 21,880 shares during the period. abrdn plc boosted its stake in BioMarin Pharmaceutical by 31.9% in the 4th quarter. abrdn plc now owns 695,802 shares of the biotechnology company’s stock worth $45,735,000 after purchasing an additional 168,121 shares during the period. Finally, Erste Asset Management GmbH acquired a new position in BioMarin Pharmaceutical in the 3rd quarter worth $48,527,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on BMRN shares. Scotiabank upped their target price on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 20th. UBS Group upped their target price on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. StockNews.com raised shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Monday. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Finally, Bank of America increased their price objective on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average price target of $94.00.

BioMarin Pharmaceutical Stock Up 0.1 %

Shares of BMRN stock opened at $70.60 on Friday. 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 firm’s 50-day moving average is $66.16 and its 200-day moving average is $69.10. The stock has a market cap of $13.47 billion, a price-to-earnings ratio of 32.09, a PEG ratio of 0.61 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a 52-week low of $60.63 and a 52-week high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.18. The firm had revenue of $747.31 million for the quarter, compared to analysts’ expectations of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. Sell-side analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,344 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $68.38, for a total value of $91,902.72. Following the transaction, the chief accounting officer now directly owns 13,105 shares of the company’s stock, valued at $896,119.90. This represents a 9.30 % decrease in their position. The transaction 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.

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.