Swiss National Bank Lowers Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Swiss National Bank cut its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 2.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 588,400 shares of the biotechnology company’s stock after selling 15,400 shares during the period. Swiss National Bank’s holdings in BioMarin Pharmaceutical were worth $56,734,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. KB Financial Partners LLC boosted its holdings in shares of BioMarin Pharmaceutical by 51.3% in the third quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 118 shares in the last quarter. Castleview Partners LLC purchased a new stake in shares of BioMarin Pharmaceutical during the third quarter worth about $35,000. Lindbrook Capital LLC grew its position in shares of BioMarin Pharmaceutical by 259.8% during the fourth quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock worth $37,000 after buying an additional 278 shares in the last quarter. Allworth Financial LP grew its stake in BioMarin Pharmaceutical by 54.9% in the fourth quarter. Allworth Financial LP now owns 604 shares of the biotechnology company’s stock worth $58,000 after purchasing an additional 214 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in shares of BioMarin Pharmaceutical by 17.9% in the 3rd quarter. Signaturefd LLC now owns 1,283 shares of the biotechnology company’s stock valued at $114,000 after acquiring an additional 195 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $100.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Robert W. Baird lowered their price objective 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. Piper Sandler cut their target price on BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. Morgan Stanley decreased their target price on BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating for the company in a research report on Friday, April 26th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $110.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, April 25th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $107.50.

BioMarin Pharmaceutical Trading Down 1.6 %

NASDAQ:BMRN opened at $82.44 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.74 and a quick ratio of 1.57. BioMarin Pharmaceutical Inc. has a 1 year low of $76.02 and a 1 year high of $99.56. The company has a market cap of $15.65 billion, a P/E ratio of 77.05, a P/E/G ratio of 1.30 and a beta of 0.34. The stock’s fifty day moving average price is $86.89 and its two-hundred day moving average price is $89.02.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. The business had revenue of $646.21 million during the quarter, compared to analyst estimates of $639.53 million. During the same quarter in the previous year, the firm earned $0.11 EPS. The company’s quarterly revenue was up 20.2% compared to the same quarter last year. As a group, analysts expect that BioMarin Pharmaceutical Inc. will post 1.98 EPS for the current year.

Insider Activity

In related news, Director Jean Jacques Bienaime sold 20,000 shares of BioMarin Pharmaceutical stock in a transaction on Friday, April 12th. The stock was sold at an average price of $91.26, for a total transaction of $1,825,200.00. Following the completion of the sale, the director now owns 474,994 shares of the company’s stock, valued at $43,347,952.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Jean Jacques Bienaime sold 20,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 474,994 shares in the company, valued at $43,347,952.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Erin Burkhart sold 2,286 shares of BioMarin Pharmaceutical stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $90.00, for a total value of $205,740.00. Following the sale, the chief accounting officer now directly owns 16,156 shares of the company’s stock, valued at approximately $1,454,040. The disclosure for this sale can be found here. Insiders sold 103,229 shares of company stock worth $9,062,967 in the last three months. Corporate insiders own 1.85% 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.