BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Swiss National Bank

Swiss National Bank reduced its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 2.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 588,400 shares of the biotechnology company’s stock after selling 15,400 shares during the period. Swiss National Bank owned about 0.31% of BioMarin Pharmaceutical worth $56,734,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in BioMarin Pharmaceutical by 7,368.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 60,571 shares of the biotechnology company’s stock valued at $5,840,000 after buying an additional 59,760 shares during the period. EFG Asset Management North America Corp. lifted its holdings in shares of BioMarin Pharmaceutical by 44.9% during the 3rd quarter. EFG Asset Management North America Corp. now owns 67,322 shares of the biotechnology company’s stock valued at $5,957,000 after acquiring an additional 20,874 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in BioMarin Pharmaceutical during the 4th quarter worth $3,598,000. FMR LLC increased its holdings in BioMarin Pharmaceutical by 30.4% in the 3rd quarter. FMR LLC now owns 713,797 shares of the biotechnology company’s stock valued at $63,157,000 after purchasing an additional 166,219 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in BioMarin Pharmaceutical by 4.9% in the fourth quarter. Nordea Investment Management AB now owns 11,594 shares of the biotechnology company’s stock valued at $1,121,000 after purchasing an additional 544 shares during the period. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Down 1.6 %

Shares of BMRN stock opened at $82.44 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.57 and a current ratio of 2.74. The stock has a market cap of $15.65 billion, a PE ratio of 77.05, a price-to-earnings-growth ratio of 1.30 and a beta of 0.34. The business’s fifty day moving average is $86.89 and its 200-day moving average is $89.02. BioMarin Pharmaceutical Inc. has a 1 year low of $76.02 and a 1 year high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.05. The company had revenue of $646.21 million for the quarter, compared to analysts’ expectations of $639.53 million. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. The business’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.11 EPS. Equities analysts expect that BioMarin Pharmaceutical Inc. will post 1.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Canaccord Genuity Group decreased their target price on BioMarin Pharmaceutical from $91.00 to $89.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Morgan Stanley lowered their price objective on shares of BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating for the company in a research report on Friday, April 26th. Scotiabank boosted their target price on shares of BioMarin Pharmaceutical from $83.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $110.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, April 25th. Finally, Wells Fargo & Company boosted their price objective on shares of BioMarin Pharmaceutical from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $107.50.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, Director Jean Jacques Bienaime sold 15,000 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $88.28, for a total value of $1,324,200.00. Following the transaction, the director now directly owns 419,602 shares of the company’s stock, valued at $37,042,464.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Jean Jacques Bienaime sold 15,000 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $88.28, for a total transaction of $1,324,200.00. Following the transaction, the director now owns 419,602 shares in the company, valued at approximately $37,042,464.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey Robert Ajer sold 4,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $87.07, for a total transaction of $348,280.00. Following the completion of the transaction, the executive vice president now owns 94,047 shares in the company, valued at $8,188,672.29. The disclosure for this sale can be found here. Insiders sold 103,229 shares of company stock valued at $9,062,967 in the last quarter. Company insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Company 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.