River Road Asset Management LLC Invests $53.87 Million in BioMarin Pharmaceutical Inc. $BMRN

River Road Asset Management LLC acquired a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 906,366 shares of the biotechnology company’s stock, valued at approximately $53,865,000. River Road Asset Management LLC owned approximately 0.47% of BioMarin Pharmaceutical at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in BMRN. Viking Global Investors LP lifted its position in BioMarin Pharmaceutical by 13.8% in the second quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock worth $675,505,000 after purchasing an additional 1,488,552 shares during the period. Norges Bank bought a new position in BioMarin Pharmaceutical during the 4th quarter valued at $447,572,000. AQR Capital Management LLC boosted its stake in BioMarin Pharmaceutical by 12.7% during the 4th quarter. AQR Capital Management LLC now owns 6,686,916 shares of the biotechnology company’s stock valued at $395,197,000 after purchasing an additional 754,807 shares in the last quarter. Geode Capital Management LLC increased its position in shares of BioMarin Pharmaceutical by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 3,674,089 shares of the biotechnology company’s stock valued at $218,395,000 after purchasing an additional 131,969 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of BioMarin Pharmaceutical by 48.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,321,754 shares of the biotechnology company’s stock valued at $197,405,000 after purchasing an additional 1,076,568 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Oppenheimer cut their price objective on BioMarin Pharmaceutical from $98.00 to $95.00 and set an “outperform” rating for the company in a report on Tuesday, February 24th. Wolfe Research reaffirmed an “outperform” rating on shares of BioMarin Pharmaceutical in a report on Monday, March 16th. Barclays lifted their target price on BioMarin Pharmaceutical from $80.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. Morgan Stanley dropped their price target on shares of BioMarin Pharmaceutical from $120.00 to $119.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 5th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $66.00 price target on shares of BioMarin Pharmaceutical in a report on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.67.

Insider Activity at BioMarin Pharmaceutical

In related news, EVP Gregory R. Friberg sold 3,281 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $53.85, for a total value of $176,681.85. Following the completion of the sale, the executive vice president owned 51,818 shares in the company, valued at approximately $2,790,399.30. This represents a 5.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.85% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $54.69 on Friday. BioMarin Pharmaceutical Inc. has a one year low of $49.26 and a one year high of $66.28. The company has a 50-day moving average of $54.29 and a two-hundred day moving average of $56.41. The stock has a market cap of $10.57 billion, a price-to-earnings ratio of 39.92, a PEG ratio of 0.42 and a beta of 0.25. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.81 and a quick ratio of 4.20.

BioMarin Pharmaceutical Profile

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company’s commercial portfolio includes several approved therapies targeting inherited disorders.