BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 453,936 shares of the biotechnology company’s stock after selling 4,103 shares during the quarter. Principal Financial Group Inc.’s holdings in BioMarin Pharmaceutical were worth $29,837,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in BMRN. TD Private Client Wealth LLC increased its stake in BioMarin Pharmaceutical by 57.4% in the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 186 shares during the last quarter. Meeder Asset Management Inc. increased its stake in BioMarin Pharmaceutical by 920.8% in the third quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 663 shares during the last quarter. True Wealth Design LLC increased its stake in BioMarin Pharmaceutical by 13,400.0% in the third quarter. True Wealth Design LLC now owns 810 shares of the biotechnology company’s stock valued at $57,000 after purchasing an additional 804 shares during the last quarter. Blue Trust Inc. increased its stake in BioMarin Pharmaceutical by 504.9% in the third quarter. Blue Trust Inc. now owns 859 shares of the biotechnology company’s stock valued at $60,000 after purchasing an additional 717 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in BioMarin Pharmaceutical by 260.1% in the fourth quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company’s stock valued at $67,000 after purchasing an additional 736 shares during the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Trading Down 0.7 %

Shares of BMRN opened at $68.25 on Friday. The company has a market capitalization of $13.01 billion, a P/E ratio of 31.02, a P/E/G ratio of 0.61 and a beta of 0.28. BioMarin Pharmaceutical Inc. has a one year low of $60.63 and a one year 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 stock has a 50-day moving average price of $64.88 and a 200 day moving average price of $70.96.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.18. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. The company had revenue of $747.31 million for the quarter, compared to the consensus estimate of $711.05 million. Sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BMRN has been the subject of several analyst reports. Wedbush reiterated an “outperform” rating and issued a $94.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday. UBS Group upped their price target on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a research note on Thursday. Piper Sandler upped their price target on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a research note on Thursday. William Blair lowered BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Finally, Evercore ISI dropped their price target on BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $93.81.

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.