BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC lessened its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 2.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 44,123 shares of the biotechnology company’s stock after selling 1,238 shares during the period. Motley Fool Asset Management LLC’s holdings in BioMarin Pharmaceutical were worth $4,254,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. KB Financial Partners LLC grew its position in BioMarin Pharmaceutical by 51.3% in the 3rd quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 118 shares during the last quarter. Castleview Partners LLC bought a new position in shares of BioMarin Pharmaceutical in the third quarter valued at approximately $35,000. Lindbrook Capital LLC lifted its stake in BioMarin Pharmaceutical by 259.8% during the fourth quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock valued at $37,000 after purchasing an additional 278 shares during the last quarter. Allworth Financial LP lifted its stake in BioMarin Pharmaceutical by 54.9% during the fourth quarter. Allworth Financial LP now owns 604 shares of the biotechnology company’s stock valued at $58,000 after purchasing an additional 214 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in BioMarin Pharmaceutical by 17.9% during the third quarter. Signaturefd LLC now owns 1,283 shares of the biotechnology company’s stock valued at $114,000 after purchasing an additional 195 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

Analyst Upgrades and Downgrades

BMRN has been the subject of a number of research analyst reports. Canaccord Genuity Group reiterated a “hold” rating and issued a $91.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 29th. Robert W. Baird lowered their target price 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. Citigroup lowered their target price on shares of BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating on the stock in a research note on Thursday. Piper Sandler decreased their price target 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, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $110.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $107.89.

Insider Activity

In other news, 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 completion of the transaction, the director now owns 474,994 shares in the company, valued at $43,347,952.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other BioMarin Pharmaceutical news, Director Jean Jacques Bienaime sold 20,000 shares of the 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 sale, the director now owns 474,994 shares in the company, valued at $43,347,952.44. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Erin Burkhart sold 2,286 shares of the stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $90.00, for a total transaction of $205,740.00. Following the completion of the sale, the chief accounting officer now 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 over the last quarter. 1.84% of the stock is currently owned by company insiders.

BioMarin Pharmaceutical Trading Down 9.9 %

NASDAQ:BMRN traded down $9.03 during trading hours on Thursday, hitting $82.17. The stock had a trading volume of 7,884,446 shares, compared to its average volume of 1,437,064. The company has a market cap of $15.51 billion, a price-to-earnings ratio of 93.38, a P/E/G ratio of 1.70 and a beta of 0.31. 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 business’s 50 day moving average is $87.74 and its 200-day moving average is $89.18.

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

About BioMarin Pharmaceutical

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.