Cannon Global Investment Management LLC Purchases New Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Cannon Global Investment Management LLC bought a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 7,000 shares of the biotechnology company’s stock, valued at approximately $675,000. BioMarin Pharmaceutical comprises 5.1% of Cannon Global Investment Management LLC’s holdings, making the stock its 5th largest holding.

A number of other large investors also recently bought and sold shares of the company. Stratos Wealth Partners LTD. lifted its holdings in BioMarin Pharmaceutical by 2.1% during the 4th quarter. Stratos Wealth Partners LTD. now owns 5,709 shares of the biotechnology company’s stock worth $550,000 after buying an additional 115 shares during the last quarter. CWM LLC lifted its holdings in shares of BioMarin Pharmaceutical by 10.0% in the 3rd quarter. CWM LLC now owns 1,301 shares of the biotechnology company’s stock worth $115,000 after purchasing an additional 118 shares during the last quarter. KB Financial Partners LLC lifted its holdings in shares of BioMarin Pharmaceutical by 51.3% in 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 last quarter. Howe & Rusling Inc. lifted its holdings in shares of BioMarin Pharmaceutical by 0.4% in the 4th quarter. Howe & Rusling Inc. now owns 36,279 shares of the biotechnology company’s stock worth $3,755,000 after purchasing an additional 128 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of BioMarin Pharmaceutical by 2.5% in the 3rd quarter. CIBC Asset Management Inc now owns 6,479 shares of the biotechnology company’s stock worth $573,000 after purchasing an additional 155 shares during the last quarter. Institutional investors own 98.71% of the company’s stock.

Insider Buying and Selling

In related news, insider Henry J. Fuchs sold 35,341 shares of BioMarin Pharmaceutical stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $85.18, for a total value of $3,010,346.38. Following the transaction, the insider now directly owns 212,117 shares in the company, valued at approximately $18,068,126.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other BioMarin Pharmaceutical news, EVP Jeffrey Robert Ajer sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $87.07, for a total transaction of $348,280.00. Following the transaction, the executive vice president now directly owns 94,047 shares in the company, valued at $8,188,672.29. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Henry J. Fuchs sold 35,341 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $85.18, for a total value of $3,010,346.38. Following the transaction, the insider now owns 212,117 shares in the company, valued at $18,068,126.06. The disclosure for this sale can be found here. Insiders have sold 103,229 shares of company stock worth $9,062,967 in the last three months. 1.84% of the stock is currently owned by insiders.

BioMarin Pharmaceutical Price Performance

Shares of BMRN stock traded down $1.00 during mid-day trading on Friday, hitting $89.07. 420,599 shares of the stock traded hands, compared to its average volume of 1,334,897. BioMarin Pharmaceutical Inc. has a twelve month low of $76.02 and a twelve month high of $99.56. The firm has a market cap of $16.81 billion, a price-to-earnings ratio of 102.35, a price-to-earnings-growth ratio of 1.67 and a beta of 0.31. The company’s 50-day simple moving average is $87.61 and its 200-day simple moving average is $89.11. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.57 and a current ratio of 2.51.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.05. The company had revenue of $646.21 million for the quarter, compared to analysts’ expectations of $639.53 million. BioMarin Pharmaceutical had a return on equity of 5.01% and a net margin of 6.93%. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period last year, the firm earned $0.11 EPS. As a group, equities research analysts expect that BioMarin Pharmaceutical Inc. will post 1.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BMRN shares. Robert W. Baird cut their price target on BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating on the stock in a report on Tuesday, January 30th. Piper Sandler cut their price target on BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $100.00 price target on shares of BioMarin Pharmaceutical in a report on Friday, February 23rd. Canaccord Genuity Group reissued a “hold” rating and issued a $91.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $100.00 price target on shares of BioMarin Pharmaceutical in a report on Friday, February 23rd. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.61.

BioMarin Pharmaceutical 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.