Cerity Partners LLC Sells 31,404 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Cerity Partners LLC trimmed its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 52.9% in the fourth quarter, HoldingsChannel reports. The firm owned 27,935 shares of the biotechnology company’s stock after selling 31,404 shares during the quarter. Cerity Partners LLC’s holdings in BioMarin Pharmaceutical were worth $1,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of BioMarin Pharmaceutical during the 4th quarter worth about $234,645,000. Assenagon Asset Management S.A. lifted its position in BioMarin Pharmaceutical by 461.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company’s stock worth $40,205,000 after acquiring an additional 502,695 shares during the last quarter. Candriam S.C.A. boosted its holdings in shares of BioMarin Pharmaceutical by 77.2% during the fourth quarter. Candriam S.C.A. now owns 580,222 shares of the biotechnology company’s stock worth $38,138,000 after acquiring an additional 252,820 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of BioMarin Pharmaceutical by 206.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,496 shares of the biotechnology company’s stock valued at $23,432,000 after purchasing an additional 240,239 shares during the last quarter. Finally, Tredje AP fonden grew its position in shares of BioMarin Pharmaceutical by 662.6% in the fourth quarter. Tredje AP fonden now owns 223,664 shares of the biotechnology company’s stock valued at $14,701,000 after purchasing an additional 194,334 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,295 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total value of $92,618.40. Following the completion of the transaction, the chief accounting officer now owns 16,955 shares of the company’s stock, valued at approximately $1,212,621.60. This trade represents a 7.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.85% of the company’s stock.

Wall Street Analysts Forecast Growth

BMRN has been the subject of several recent research reports. Piper Sandler boosted their price target on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Citigroup boosted their target price on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Bank of America raised their price target on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Oppenheimer raised shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price objective for the company in a report on Monday, February 24th. Finally, UBS Group raised their target price on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.00.

BioMarin Pharmaceutical Stock Down 2.0 %

Shares of BioMarin Pharmaceutical stock opened at $58.82 on Thursday. The stock has a market capitalization of $11.22 billion, a PE ratio of 26.74, a price-to-earnings-growth ratio of 0.61 and a beta of 0.30. BioMarin Pharmaceutical Inc. has a 52-week low of $52.93 and a 52-week high of $94.85. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33. The company has a 50-day simple moving average of $66.91 and a two-hundred day simple moving average of $66.43.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.18. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. The firm had revenue of $747.31 million for the quarter, compared to analysts’ expectations of $711.05 million. On average, analysts anticipate that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.

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.