BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 3.0% during the 4th quarter, Holdings Channel reports. The firm owned 13,015 shares of the biotechnology company’s stock after selling 400 shares during the period. Nisa Investment Advisors LLC’s holdings in BioMarin Pharmaceutical were worth $1,255,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Stratos Wealth Partners LTD. grew its position in shares of BioMarin Pharmaceutical by 2.1% in the fourth quarter. Stratos Wealth Partners LTD. now owns 5,709 shares of the biotechnology company’s stock valued at $550,000 after purchasing an additional 115 shares during the last quarter. CWM LLC boosted its position in BioMarin Pharmaceutical by 10.0% during the third quarter. CWM LLC now owns 1,301 shares of the biotechnology company’s stock worth $115,000 after acquiring an additional 118 shares during the last quarter. KB Financial Partners LLC boosted its position in BioMarin Pharmaceutical by 51.3% during the third quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 118 shares during the last quarter. Howe & Rusling Inc. boosted its position in BioMarin Pharmaceutical by 0.4% during the fourth quarter. Howe & Rusling Inc. now owns 36,279 shares of the biotechnology company’s stock worth $3,755,000 after acquiring an additional 128 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its position in BioMarin Pharmaceutical by 2.5% during the third quarter. CIBC Asset Management Inc now owns 6,479 shares of the biotechnology company’s stock worth $573,000 after acquiring an additional 155 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on BMRN shares. Canaccord Genuity Group restated a “hold” rating and set a $91.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 29th. Cantor Fitzgerald restated an “overweight” rating and set a $100.00 target price on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Stifel Nicolaus restated a “buy” rating and set a $101.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, December 21st. Piper Sandler decreased their target price on shares of BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. Finally, Robert W. Baird cut their price target on shares of BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 30th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and a consensus target price of $107.61.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN stock opened at $92.22 on Monday. The company’s fifty day simple moving average is $87.46 and its 200-day simple moving average is $89.06. BioMarin Pharmaceutical Inc. has a 52 week low of $76.02 and a 52 week high of $100.38. The company has a current ratio of 2.51, a quick ratio of 1.57 and a debt-to-equity ratio of 0.12. The company has a market cap of $17.40 billion, a PE ratio of 104.80, a P/E/G ratio of 1.76 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.05. BioMarin Pharmaceutical had a net margin of 6.93% and a return on equity of 5.01%. The firm had revenue of $646.21 million for the quarter, compared to the consensus estimate of $639.53 million. During the same quarter in the previous year, the firm posted $0.11 EPS. The firm’s quarterly revenue was up 20.2% on a year-over-year basis. As a group, equities research analysts anticipate that BioMarin Pharmaceutical Inc. will post 1.93 EPS for the current year.

Insider Buying and Selling

In related news, EVP Jeffrey Robert Ajer sold 4,000 shares of BioMarin Pharmaceutical stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $87.07, for a total transaction of $348,280.00. Following the sale, the executive vice president now owns 94,047 shares of the company’s stock, valued at approximately $8,188,672.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other BioMarin Pharmaceutical news, EVP Jeffrey Robert Ajer sold 4,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $87.07, for a total transaction of $348,280.00. Following the completion of the transaction, the executive vice president now directly owns 94,047 shares of the company’s stock, valued at approximately $8,188,672.29. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jean Jacques Bienaime sold 15,000 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $88.28, for a total transaction of $1,324,200.00. Following the transaction, the director now directly owns 419,602 shares of the company’s stock, valued at $37,042,464.56. The disclosure for this sale can be found here. Insiders have sold 83,229 shares of company stock valued at $7,237,767 in the last quarter. Company insiders own 1.84% of the company’s stock.

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.