XTX Topco Ltd Increases Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

XTX Topco Ltd increased its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 37.5% during the third quarter, according to its most recent filing with the SEC. The fund owned 6,898 shares of the biotechnology company’s stock after buying an additional 1,880 shares during the quarter. XTX Topco Ltd’s holdings in BioMarin Pharmaceutical were worth $485,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Innealta Capital LLC purchased a new position in BioMarin Pharmaceutical in the second quarter valued at about $25,000. BOKF NA purchased a new position in BioMarin Pharmaceutical in the second quarter valued at approximately $31,000. nVerses Capital LLC purchased a new stake in BioMarin Pharmaceutical in the third quarter worth $28,000. Itau Unibanco Holding S.A. bought a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at $47,000. Finally, Meeder Asset Management Inc. lifted its position in shares of BioMarin Pharmaceutical by 920.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock valued at $52,000 after buying an additional 663 shares during the last quarter. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

NASDAQ BMRN opened at $66.01 on Friday. BioMarin Pharmaceutical Inc. has a 52-week low of $61.15 and a 52-week high of $99.56. The company has a fifty day moving average of $66.97 and a 200-day moving average of $77.14. The company 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. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.23). The firm had revenue of $746.00 million for the quarter, compared to the consensus estimate of $703.37 million. BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. 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 earned $0.26 EPS. As a group, equities research analysts predict that BioMarin Pharmaceutical Inc. will post 2.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BMRN shares. Wedbush raised BioMarin Pharmaceutical to a “strong-buy” rating in a report on Monday, November 4th. Canaccord Genuity Group lowered their price target on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. Wolfe Research assumed coverage on shares of BioMarin Pharmaceutical in a report on Friday, November 15th. They issued an “outperform” rating and a $95.00 price objective for the company. Wells Fargo & Company lowered their target price on shares of BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday, September 17th. Finally, Sanford C. Bernstein cut their price target on BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, September 17th. Seven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $94.20.

Insiders Place Their Bets

In other news, EVP Charles Greg Guyer sold 5,278 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total value of $350,300.86. Following the completion of the sale, the executive vice president now directly 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 legal filing with the SEC, which can be accessed through this hyperlink. 1.85% of the stock is owned by insiders.

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.