Vontobel Holding Ltd. Trims Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Vontobel Holding Ltd. decreased its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 16.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,627 shares of the biotechnology company’s stock after selling 1,276 shares during the quarter. Vontobel Holding Ltd.’s holdings in BioMarin Pharmaceutical were worth $639,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in BMRN. KB Financial Partners LLC grew its stake in BioMarin Pharmaceutical by 51.3% during the 3rd quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock worth $31,000 after buying an additional 118 shares during the last quarter. Castleview Partners LLC acquired a new position in shares of BioMarin Pharmaceutical in the 3rd quarter valued at $35,000. Allworth Financial LP raised its position in BioMarin Pharmaceutical by 54.9% in the 4th quarter. Allworth Financial LP now owns 604 shares of the biotechnology company’s stock valued at $58,000 after purchasing an additional 214 shares during the last quarter. Signaturefd LLC raised its position in BioMarin Pharmaceutical by 17.9% in the 3rd quarter. Signaturefd LLC now owns 1,283 shares of the biotechnology company’s stock valued at $114,000 after purchasing an additional 195 shares during the last quarter. Finally, CWM LLC boosted its stake in BioMarin Pharmaceutical by 10.0% during 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 period. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $89.49 on Tuesday. The company has a quick ratio of 1.57, a current ratio of 2.51 and a debt-to-equity ratio of 0.12. The firm’s 50-day simple moving average is $87.64 and its 200 day simple moving average is $89.18. BioMarin Pharmaceutical Inc. has a 52 week low of $76.02 and a 52 week high of $99.56. The firm has a market capitalization of $16.89 billion, a PE ratio of 101.69, a P/E/G ratio of 1.64 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Thursday, February 22nd. The biotechnology company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.05. The firm had revenue of $646.21 million during 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 quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.11 EPS. On average, equities research analysts predict that BioMarin Pharmaceutical Inc. will post 1.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $100.00 target price on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Canaccord Genuity Group reaffirmed a “hold” rating and set a $91.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 29th. Robert W. Baird dropped their target price on BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating on the stock in a report on Tuesday, January 30th. Royal Bank of Canada restated a “sector perform” rating and set a $100.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Finally, Piper Sandler lowered their price objective on shares of BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $107.61.

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 2,286 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $90.00, for a total value of $205,740.00. Following the completion of the sale, the chief accounting officer now directly owns 16,156 shares of the company’s stock, valued at approximately $1,454,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 2,286 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $90.00, for a total value of $205,740.00. Following the sale, the chief accounting officer now directly owns 16,156 shares of the company’s stock, valued at approximately $1,454,040. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP George Eric Davis sold 24,602 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $88.34, for a total transaction of $2,173,340.68. Following the transaction, the executive vice president now directly owns 55,856 shares of the company’s stock, valued at approximately $4,934,319.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 103,229 shares of company stock valued at $9,062,967. Company insiders own 1.84% of the company’s stock.

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.