CIBC Asset Management Inc Has $3.07 Million Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

CIBC Asset Management Inc grew its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 19.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 39,674 shares of the biotechnology company’s stock after buying an additional 6,366 shares during the quarter. CIBC Asset Management Inc’s holdings in BioMarin Pharmaceutical were worth $3,066,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Dodge & Cox lifted its position in shares of BioMarin Pharmaceutical by 19.0% in the second quarter. Dodge & Cox now owns 14,102,097 shares of the biotechnology company’s stock worth $1,176,679,000 after buying an additional 2,247,789 shares during the last quarter. Clearbridge Investments LLC lifted its position in shares of BioMarin Pharmaceutical by 1.3% in the second quarter. Clearbridge Investments LLC now owns 5,071,303 shares of the biotechnology company’s stock worth $423,150,000 after buying an additional 67,333 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of BioMarin Pharmaceutical by 29.1% in the second quarter. JPMorgan Chase & Co. now owns 3,755,379 shares of the biotechnology company’s stock worth $313,348,000 after buying an additional 847,367 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of BioMarin Pharmaceutical by 6.5% in the second quarter. Geode Capital Management LLC now owns 2,308,922 shares of the biotechnology company’s stock worth $192,379,000 after buying an additional 140,877 shares during the last quarter. Finally, Palo Alto Investors LP lifted its position in shares of BioMarin Pharmaceutical by 0.3% during the 2nd quarter. Palo Alto Investors LP now owns 2,212,950 shares of the biotechnology company’s stock worth $184,649,000 after purchasing an additional 7,200 shares during the last quarter. 94.15% of the stock is owned by institutional investors.

Several equities analysts recently weighed in on BMRN shares. Wedbush reissued an “outperform” rating and set a $152.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, October 28th. Oppenheimer boosted their price objective on BioMarin Pharmaceutical from $84.00 to $95.00 and gave the stock a “market perform” rating in a research report on Monday, November 22nd. Truist boosted their price objective on BioMarin Pharmaceutical from $125.00 to $135.00 in a research report on Monday, January 10th. SVB Leerink reissued a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Thursday, December 2nd. Finally, Credit Suisse Group boosted their price objective on BioMarin Pharmaceutical from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, November 22nd. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $110.76.

In related news, EVP Jeffrey Robert Ajer sold 2,739 shares of the stock in a transaction that occurred on Tuesday, October 26th. The stock was sold at an average price of $73.60, for a total transaction of $201,590.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jean Jacques Bienaime sold 6,000 shares of the stock in a transaction that occurred on Wednesday, December 15th. The stock was sold at an average price of $82.71, for a total value of $496,260.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,239 shares of company stock worth $1,267,980. Corporate insiders own 1.69% of the company’s stock.

BMRN stock opened at $90.22 on Friday. BioMarin Pharmaceutical Inc. has a 1-year low of $71.59 and a 1-year high of $92.17. The firm has a market cap of $16.56 billion, a P/E ratio of 1,127.75, a P/E/G ratio of 2.90 and a beta of 0.49. The business’s 50 day moving average is $86.24 and its 200-day moving average is $81.34. The company has a current ratio of 4.49, a quick ratio of 3.03 and a debt-to-equity ratio of 0.25.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Tuesday, October 26th. The biotechnology company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.05. BioMarin Pharmaceutical had a return on equity of 2.02% and a net margin of 0.86%. The company had revenue of $408.74 million for the quarter, compared to analyst estimates of $435.29 million. During the same period in the prior year, the company posted $0.29 EPS. The company’s revenue was down 14.3% compared to the same quarter last year. Sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 0.29 EPS for the current year.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical, Inc engages in the development and commercialization of therapies for people with serious and life-threatening rare diseases and medical conditions. Its pipeline products include Valoctocogene roxaparvovec, Vosoritide, and BMN 307. The company was founded by John C. Klock, Christopher M.

See Also: Quantitative Easing

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Institutional Ownership by Quarter for BioMarin Pharmaceutical (NASDAQ:BMRN)

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