BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky cut its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRNFree Report) by 7.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 163,798 shares of the biotechnology company’s stock after selling 13,897 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in BioMarin Pharmaceutical were worth $15,793,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its holdings in BioMarin Pharmaceutical by 7,368.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 60,571 shares of the biotechnology company’s stock worth $5,840,000 after purchasing an additional 59,760 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at approximately $3,598,000. FMR LLC increased its holdings in shares of 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 acquiring an additional 166,219 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of BioMarin Pharmaceutical by 4.9% in the 4th quarter. Nordea Investment Management AB now owns 11,594 shares of the biotechnology company’s stock valued at $1,121,000 after acquiring an additional 544 shares during the last quarter. Finally, ING Groep NV bought a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at approximately $20,248,000. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BMRN shares. Piper Sandler lowered their price target on BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating for the company in a report on Friday, February 23rd. Baird R W downgraded BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 17th. Scotiabank upped their price objective on BioMarin Pharmaceutical from $83.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 25th. Evercore ISI initiated coverage on BioMarin Pharmaceutical in a research note on Tuesday, May 14th. They set an “outperform” rating and a $113.00 price objective for the company. Finally, Robert W. Baird downgraded BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $104.00 to $72.00 in a research note on Friday, May 17th. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $106.11.

Read Our Latest Stock Report on BMRN

Insider Transactions at BioMarin Pharmaceutical

In other news, EVP George Eric Davis sold 24,602 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $88.34, for a total transaction of $2,173,340.68. Following the sale, the executive vice president now directly owns 55,856 shares of the company’s stock, valued at $4,934,319.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Jean Jacques Bienaime sold 20,000 shares of the company’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $91.26, for a total transaction of $1,825,200.00. Following the transaction, the director now directly owns 474,994 shares of the company’s stock, valued at $43,347,952.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP George Eric Davis sold 24,602 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $88.34, for a total value of $2,173,340.68. Following the transaction, the executive vice president now directly owns 55,856 shares in the company, valued at $4,934,319.04. The disclosure for this sale can be found here. Insiders have sold 114,588 shares of company stock valued at $9,413,633 over the last three months. Company insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Price Performance

Shares of BioMarin Pharmaceutical stock traded down $0.73 during trading on Friday, hitting $83.51. The stock had a trading volume of 2,476,410 shares, compared to its average volume of 2,727,685. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.74 and a quick ratio of 1.70. The firm has a market cap of $15.86 billion, a P/E ratio of 78.05, a PEG ratio of 1.20 and a beta of 0.31. The business has a fifty day moving average of $82.54 and a two-hundred day moving average of $87.94. BioMarin Pharmaceutical Inc. has a fifty-two week low of $73.68 and a fifty-two week high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.12. The business had revenue of $648.83 million during the quarter, compared to analyst estimates of $649.75 million. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. On average, sell-side analysts expect that BioMarin Pharmaceutical Inc. will post 1.99 earnings per share for the current fiscal year.

BioMarin Pharmaceutical Profile

(Free Report)

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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