Xponance Inc. Reduces Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Xponance Inc. lowered its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,966 shares of the biotechnology company’s stock after selling 203 shares during the period. Xponance Inc.’s holdings in BioMarin Pharmaceutical were worth $865,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of BMRN. CWM LLC boosted its position in BioMarin Pharmaceutical by 10.0% in the 3rd quarter. CWM LLC now owns 1,301 shares of the biotechnology company’s stock worth $115,000 after purchasing an additional 118 shares in the last quarter. State of Alaska Department of Revenue boosted its position in BioMarin Pharmaceutical by 3.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 27,605 shares of the biotechnology company’s stock worth $2,442,000 after purchasing an additional 865 shares in the last quarter. Handelsbanken Fonder AB boosted its position in BioMarin Pharmaceutical by 1.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 91,755 shares of the biotechnology company’s stock worth $8,118,000 after purchasing an additional 1,593 shares in the last quarter. Simplicity Solutions LLC boosted its position in BioMarin Pharmaceutical by 8.4% in the 3rd quarter. Simplicity Solutions LLC now owns 2,971 shares of the biotechnology company’s stock worth $263,000 after purchasing an additional 229 shares in the last quarter. Finally, AMI Asset Management Corp purchased a new stake in BioMarin Pharmaceutical in the 3rd quarter worth approximately $27,838,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Wall Street Analyst Weigh In

BMRN has been the topic of several recent research reports. Scotiabank upped their price objective on BioMarin Pharmaceutical from $83.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Thursday. Cantor Fitzgerald restated an “overweight” rating and issued a $110.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday. Wells Fargo & Company upped their target price on BioMarin Pharmaceutical from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday. Robert W. Baird reduced their target price 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. Finally, Piper Sandler reduced their target price 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. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and an average price target of $107.89.

BioMarin Pharmaceutical Stock Down 9.9 %

NASDAQ BMRN opened at $82.17 on Friday. The business has a fifty day moving average price of $87.74 and a 200 day moving average price of $89.18. BioMarin Pharmaceutical Inc. has a one year low of $76.02 and a one year high of $99.56. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.57 and a current ratio of 2.51. The company has a market cap of $15.51 billion, a P/E ratio of 93.38, a P/E/G ratio of 1.70 and a beta of 0.31.

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

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, 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 value of $1,324,200.00. Following the completion of the sale, the director now directly owns 419,602 shares of the company’s stock, valued at approximately $37,042,464.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Jean Jacques Bienaime sold 15,000 shares of the 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 completion of the transaction, the director now directly owns 419,602 shares in the company, valued at approximately $37,042,464.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jeffrey Robert Ajer sold 4,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $87.07, for a total value of $348,280.00. Following the transaction, the executive vice president now owns 94,047 shares of the company’s stock, valued at $8,188,672.29. The disclosure for this sale can be found here. Insiders sold 103,229 shares of company stock valued at $9,062,967 in the last three months. 1.84% of the stock is currently owned by insiders.

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.