BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRNGet Rating) by 29.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,963 shares of the biotechnology company’s stock after selling 2,099 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in BioMarin Pharmaceutical were worth $420,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of BioMarin Pharmaceutical by 7.7% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 53,503 shares of the biotechnology company’s stock valued at $4,434,000 after acquiring an additional 3,832 shares during the period. Rhumbline Advisers raised its stake in shares of BioMarin Pharmaceutical by 17.9% during the second quarter. Rhumbline Advisers now owns 192,672 shares of the biotechnology company’s stock worth $15,967,000 after purchasing an additional 29,286 shares during the last quarter. Hancock Whitney Corp purchased a new stake in shares of BioMarin Pharmaceutical during the second quarter worth approximately $208,000. Ensign Peak Advisors Inc raised its stake in shares of BioMarin Pharmaceutical by 99.0% during the second quarter. Ensign Peak Advisors Inc now owns 90,326 shares of the biotechnology company’s stock worth $7,485,000 after purchasing an additional 44,936 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of BioMarin Pharmaceutical by 373.1% during the second quarter. Assenagon Asset Management S.A. now owns 239,236 shares of the biotechnology company’s stock worth $19,825,000 after purchasing an additional 188,671 shares during the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on BMRN shares. Oppenheimer upgraded BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $92.00 to $110.00 in a research note on Monday, October 31st. Evercore ISI upped their price target on BioMarin Pharmaceutical to $130.00 in a research note on Friday, December 2nd. TheStreet upgraded BioMarin Pharmaceutical from a “c” rating to a “b-” rating in a research note on Thursday, October 27th. Canaccord Genuity Group assumed coverage on BioMarin Pharmaceutical in a research report on Wednesday, January 18th. They issued a “hold” rating and a $119.00 price objective for the company. Finally, Stifel Nicolaus increased their price objective on BioMarin Pharmaceutical to $104.00 in a research report on Wednesday, September 28th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average price target of $120.12.

BioMarin Pharmaceutical Stock Up 2.1 %

BioMarin Pharmaceutical stock opened at $113.82 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.54 and a current ratio of 5.15. The firm has a market capitalization of $21.11 billion, a price-to-earnings ratio of 271.00 and a beta of 0.36. BioMarin Pharmaceutical Inc. has a fifty-two week low of $70.73 and a fifty-two week high of $114.80. The stock’s fifty day moving average is $103.98 and its two-hundred day moving average is $93.89.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Rating) last posted its quarterly earnings data on Wednesday, October 26th. The biotechnology company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. The business had revenue of $505.30 million for the quarter, compared to analyst estimates of $516.03 million. BioMarin Pharmaceutical had a return on equity of 2.50% and a net margin of 4.18%. The business’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.03) earnings per share. Analysts predict that BioMarin Pharmaceutical Inc. will post 0.87 EPS for the current fiscal year.

Insider Activity at BioMarin Pharmaceutical

In related news, CEO Jean Jacques Bienaime sold 10,000 shares of the stock in a transaction on Friday, January 13th. The stock was sold at an average price of $112.25, for a total transaction of $1,122,500.00. Following the sale, the chief executive officer now owns 320,424 shares of the company’s stock, valued at $35,967,594. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other BioMarin Pharmaceutical news, CFO Brian Mueller sold 2,500 shares of the firm’s stock in a transaction dated Friday, January 13th. The stock was sold at an average price of $114.50, for a total value of $286,250.00. Following the sale, the chief financial officer now directly owns 27,746 shares of the company’s stock, valued at approximately $3,176,917. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jean Jacques Bienaime sold 10,000 shares of the firm’s stock in a transaction dated Friday, January 13th. The stock was sold at an average price of $112.25, for a total value of $1,122,500.00. Following the completion of the sale, the chief executive officer now directly owns 320,424 shares in the company, valued at $35,967,594. The disclosure for this sale can be found here. Insiders have sold a total of 44,380 shares of company stock valued at $4,706,718 over the last quarter. Insiders own 1.75% of the company’s stock.

About BioMarin Pharmaceutical

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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.

Further Reading

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

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