Sumitomo Mitsui Trust Holdings Inc. Sells 5,805 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Sumitomo Mitsui Trust Holdings Inc. reduced its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 481,596 shares of the biotechnology company’s stock after selling 5,805 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in BioMarin Pharmaceutical were worth $46,435,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BMRN. Norges Bank bought a new stake in shares of BioMarin Pharmaceutical in the 4th quarter worth approximately $285,013,000. Barclays PLC raised its stake in BioMarin Pharmaceutical by 31.6% during the third quarter. Barclays PLC now owns 5,573,157 shares of the biotechnology company’s stock valued at $493,111,000 after buying an additional 1,336,886 shares during the last quarter. Toronto Dominion Bank raised its stake in BioMarin Pharmaceutical by 1,832.5% during the third quarter. Toronto Dominion Bank now owns 907,754 shares of the biotechnology company’s stock valued at $80,318,000 after buying an additional 860,782 shares during the last quarter. Hsbc Holdings PLC raised its stake in BioMarin Pharmaceutical by 251.1% during the third quarter. Hsbc Holdings PLC now owns 607,098 shares of the biotechnology company’s stock valued at $53,941,000 after buying an additional 434,199 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in BioMarin Pharmaceutical by 231.5% during the third quarter. Jennison Associates LLC now owns 589,344 shares of the biotechnology company’s stock valued at $52,145,000 after buying an additional 411,543 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Stock Performance

NASDAQ BMRN opened at $88.63 on Friday. The firm has a market cap of $16.73 billion, a price-to-earnings ratio of 100.72, a price-to-earnings-growth ratio of 1.67 and a beta of 0.31. The company has a quick ratio of 1.57, a current ratio of 2.51 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average price of $87.61 and a 200-day moving average price of $89.12. BioMarin Pharmaceutical Inc. has a twelve month low of $76.02 and a twelve month high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.05. The company had revenue of $646.21 million for the quarter, compared to the consensus estimate of $639.53 million. BioMarin Pharmaceutical had a return on equity of 5.01% and a net margin of 6.93%. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.11 earnings per share. As a group, equities research analysts predict that BioMarin Pharmaceutical Inc. will post 1.85 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Jean Jacques Bienaime sold 20,000 shares of the business’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $91.26, for a total value of $1,825,200.00. Following the sale, the director now directly owns 474,994 shares in the company, valued at $43,347,952.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 2,286 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $90.00, for a total transaction of $205,740.00. Following the sale, the chief accounting officer now directly owns 16,156 shares in the company, valued at $1,454,040. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jean Jacques Bienaime sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $91.26, for a total value of $1,825,200.00. Following the sale, the director now owns 474,994 shares in the company, valued at $43,347,952.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,229 shares of company stock worth $9,062,967. Corporate insiders own 1.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Robert W. Baird lowered their price objective on BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating for the company in a research note on Tuesday, January 30th. Piper Sandler decreased their price target on BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. Canaccord Genuity Group restated a “hold” rating and issued a $91.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 29th. Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $100.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and an average price target of $107.61.

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.