Kovitz Investment Group Partners LLC Purchases 1,981 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Kovitz Investment Group Partners LLC boosted its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 63.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,081 shares of the biotechnology company’s stock after purchasing an additional 1,981 shares during the period. Kovitz Investment Group Partners LLC’s holdings in BioMarin Pharmaceutical were worth $357,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Innealta Capital LLC bought a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter valued at approximately $25,000. nVerses Capital LLC acquired a new stake in BioMarin Pharmaceutical in the third quarter valued at approximately $28,000. BOKF NA bought a new stake in shares of BioMarin Pharmaceutical during the second quarter worth $31,000. Itau Unibanco Holding S.A. acquired a new position in shares of BioMarin Pharmaceutical during the second quarter worth $47,000. Finally, Meeder Asset Management Inc. lifted its stake in shares of BioMarin Pharmaceutical by 920.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock valued at $52,000 after acquiring an additional 663 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN opened at $66.01 on Friday. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a twelve month low of $61.15 and a twelve month high of $99.56. The company has a fifty day moving average of $66.97 and a 200-day moving average of $77.12. The firm has a market capitalization of $12.58 billion, a P/E ratio of 39.53, a P/E/G ratio of 0.65 and a beta of 0.29.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.23). The company had revenue of $746.00 million during the quarter, compared to the consensus estimate of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The company’s revenue for the quarter was up 28.4% on a year-over-year basis. During the same period last year, the firm posted $0.26 earnings per share. As a group, sell-side analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.49 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday. Robert W. Baird dropped their price objective on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Barclays cut their target price on shares of BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. Bank of America dropped their price target on shares of BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Finally, Truist Financial reduced their price objective on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Seven 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 stock. Based on data from MarketBeat, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and an average price target of $94.20.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 5,278 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total transaction of $350,300.86. Following the completion of the sale, the executive vice president now owns 68,909 shares in the company, valued at approximately $4,573,490.33. The trade was a 7.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.85% of the company’s stock.

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.