BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P decreased its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 12.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,878 shares of the biotechnology company’s stock after selling 7,060 shares during the period. Martingale Asset Management L P’s holdings in BioMarin Pharmaceutical were worth $3,576,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BMRN. Tidal Investments LLC raised its position in BioMarin Pharmaceutical by 65.5% during the first quarter. Tidal Investments LLC now owns 17,447 shares of the biotechnology company’s stock worth $1,524,000 after acquiring an additional 6,906 shares during the last quarter. DNB Asset Management AS raised its position in BioMarin Pharmaceutical by 17.7% during the second quarter. DNB Asset Management AS now owns 1,021,054 shares of the biotechnology company’s stock worth $84,063,000 after acquiring an additional 153,867 shares during the last quarter. Quent Capital LLC raised its position in BioMarin Pharmaceutical by 58.9% during the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 145 shares during the last quarter. CWM LLC raised its position in BioMarin Pharmaceutical by 68.5% during the second quarter. CWM LLC now owns 2,398 shares of the biotechnology company’s stock worth $197,000 after acquiring an additional 975 shares during the last quarter. Finally, Inspirion Wealth Advisors LLC raised its position in BioMarin Pharmaceutical by 2.3% during the second quarter. Inspirion Wealth Advisors LLC now owns 13,458 shares of the biotechnology company’s stock worth $1,108,000 after acquiring an additional 304 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 5,278 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total transaction of $350,300.86. Following the transaction, the executive vice president now directly owns 68,909 shares of the company’s stock, valued at approximately $4,573,490.33. The trade was a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.85% of the stock is currently owned by corporate insiders.

BioMarin Pharmaceutical Trading Up 0.9 %

Shares of BMRN stock opened at $66.03 on Friday. The stock has a market cap of $12.58 billion, a price-to-earnings ratio of 39.54, a price-to-earnings-growth ratio of 0.64 and a beta of 0.31. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a fifty-two week low of $61.15 and a fifty-two week high of $99.56. The firm’s 50 day moving average price is $67.72 and its two-hundred day moving average price is $77.91.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). The business had revenue of $746.00 million for the quarter, compared to analyst estimates of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The company’s quarterly revenue was up 28.4% on a year-over-year basis. During the same period last year, the firm earned $0.26 earnings per share. On average, analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.49 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on BMRN. Scotiabank cut their target price on shares of BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating for the company in a research report on Tuesday, September 17th. Barclays lowered their price target on shares of BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating for the company in a report on Friday, October 4th. Truist Financial lowered their price target on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Stifel Nicolaus lowered their price target on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $80.00 price target on shares of BioMarin Pharmaceutical in a report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average price target of $94.20.

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.