DekaBank Deutsche Girozentrale Reduces Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

DekaBank Deutsche Girozentrale lowered its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRNGet Rating) by 10.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 260,468 shares of the biotechnology company’s stock after selling 30,034 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.14% of BioMarin Pharmaceutical worth $23,337,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Ancora Advisors LLC raised its holdings in shares of BioMarin Pharmaceutical by 466.7% during the 3rd quarter. Ancora Advisors LLC now owns 425 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 350 shares in the last quarter. Spire Wealth Management raised its holdings in shares of BioMarin Pharmaceutical by 59.7% during the 4th quarter. Spire Wealth Management now owns 377 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 141 shares in the last quarter. Liberty Wealth Management LLC raised its holdings in shares of BioMarin Pharmaceutical by 181.7% during the 3rd quarter. Liberty Wealth Management LLC now owns 431 shares of the biotechnology company’s stock valued at $34,000 after buying an additional 278 shares in the last quarter. Close Asset Management Ltd raised its holdings in shares of BioMarin Pharmaceutical by 32,400.0% during the 3rd quarter. Close Asset Management Ltd now owns 650 shares of the biotechnology company’s stock valued at $50,000 after buying an additional 648 shares in the last quarter. Finally, Desjardins Global Asset Management Inc. purchased a new position in shares of BioMarin Pharmaceutical during the 4th quarter valued at about $53,000. 91.71% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:BMRN traded up $2.64 during mid-day trading on Friday, reaching $85.99. The stock had a trading volume of 1,739,046 shares, compared to its average volume of 1,162,044. The company has a current ratio of 4.21, a quick ratio of 2.77 and a debt-to-equity ratio of 0.25. The company has a market cap of $15.82 billion, a P/E ratio of -238.86, a price-to-earnings-growth ratio of 1.90 and a beta of 0.49. BioMarin Pharmaceutical Inc. has a 1 year low of $71.59 and a 1 year high of $94.20. The business’s 50 day moving average price is $82.36 and its 200 day moving average price is $82.98.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Rating) last posted its earnings results on Wednesday, February 23rd. The biotechnology company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.01. The company had revenue of $449.81 million for the quarter, compared to the consensus estimate of $442.38 million. BioMarin Pharmaceutical had a positive return on equity of 1.32% and a negative net margin of 3.47%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.05) earnings per share. Analysts predict that BioMarin Pharmaceutical Inc. will post 0.89 earnings per share for the current fiscal year.

In other news, EVP George Eric Davis sold 6,129 shares of the company’s stock in a transaction dated Monday, March 21st. The shares were sold at an average price of $81.29, for a total value of $498,226.41. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jeffrey Robert Ajer sold 1,618 shares of the company’s stock in a transaction dated Tuesday, March 29th. The stock was sold at an average price of $79.43, for a total transaction of $128,517.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,522 shares of company stock worth $3,604,165. Company insiders own 1.69% of the company’s stock.

BMRN has been the topic of several recent research reports. Wedbush restated an “outperform” rating and set a $155.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 24th. StockNews.com initiated coverage on BioMarin Pharmaceutical in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Morgan Stanley restated a “hold” rating and set a $90.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, February 18th. Truist Financial raised their price target on BioMarin Pharmaceutical from $125.00 to $135.00 in a research report on Monday, January 10th. Finally, Piper Sandler raised their price target on BioMarin Pharmaceutical from $121.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, February 24th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $111.71.

BioMarin Pharmaceutical Company Profile (Get Rating)

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.

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Institutional Ownership by Quarter for BioMarin Pharmaceutical (NASDAQ:BMRN)

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