Sector Gamma AS Lowers Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Sector Gamma AS decreased its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 10.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,247 shares of the biotechnology company’s stock after selling 9,801 shares during the quarter. BioMarin Pharmaceutical makes up approximately 2.0% of Sector Gamma AS’s holdings, making the stock its 19th largest holding. Sector Gamma AS’s holdings in BioMarin Pharmaceutical were worth $8,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Headlands Technologies LLC grew its holdings in BioMarin Pharmaceutical by 950.0% in the 4th quarter. Headlands Technologies LLC now owns 1,281 shares of the biotechnology company’s stock valued at $124,000 after buying an additional 1,159 shares during the period. Atria Wealth Solutions Inc. raised its position in shares of BioMarin Pharmaceutical by 1.6% in the 4th quarter. Atria Wealth Solutions Inc. now owns 9,729 shares of the biotechnology company’s stock valued at $938,000 after purchasing an additional 153 shares in the last quarter. Yousif Capital Management LLC acquired a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at approximately $214,000. Foundry Partners LLC bought a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at approximately $217,000. Finally, EFG Asset Management Americas Corp. increased its holdings in shares of BioMarin Pharmaceutical by 1.6% in the 4th quarter. EFG Asset Management Americas Corp. now owns 27,228 shares of the biotechnology company’s stock valued at $2,625,000 after acquiring an additional 432 shares during the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Insider Activity at BioMarin Pharmaceutical

In related news, insider Henry J. Fuchs sold 35,341 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $85.18, for a total transaction of $3,010,346.38. Following the completion of the transaction, the insider now directly owns 212,117 shares of the company’s stock, valued at approximately $18,068,126.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other BioMarin Pharmaceutical news, insider Henry J. Fuchs sold 35,341 shares of BioMarin Pharmaceutical stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $85.18, for a total transaction of $3,010,346.38. Following the completion of the transaction, the insider now owns 212,117 shares in the company, valued at approximately $18,068,126.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jean Jacques Bienaime sold 1,000 shares of BioMarin Pharmaceutical stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $90.35, for a total value of $90,350.00. Following the transaction, the director now owns 562,203 shares of the company’s stock, valued at approximately $50,795,041.05. The disclosure for this sale can be found here. Insiders have sold a total of 103,229 shares of company stock valued at $9,062,967 in the last 90 days. 1.84% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

BMRN has been the subject of a number of recent research reports. Piper Sandler lowered their price objective 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. Wells Fargo & Company upped their price objective on BioMarin Pharmaceutical from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $100.00 target price on shares of BioMarin Pharmaceutical in a report on Friday, February 23rd. Canaccord Genuity Group reduced their target price on BioMarin Pharmaceutical from $91.00 to $89.00 and set a “hold” rating for the company in a report on Friday. Finally, Morgan Stanley dropped their price target on BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating on the stock in a research report on Friday. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $107.50.

BioMarin Pharmaceutical Price Performance

Shares of BMRN stock traded down $1.26 during trading hours on Friday, reaching $80.91. The company’s stock had a trading volume of 2,257,132 shares, compared to its average volume of 1,697,110. The firm’s 50 day simple moving average is $87.58 and its 200-day simple moving average is $89.13. The company has a market capitalization of $15.27 billion, a price-to-earnings ratio of 75.62, a PEG ratio of 1.51 and a beta of 0.31. BioMarin Pharmaceutical Inc. has a fifty-two week low of $76.02 and a fifty-two week high of $99.56. The company has a quick ratio of 1.57, a current ratio of 2.51 and a debt-to-equity ratio of 0.12.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data 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. BioMarin Pharmaceutical had a return on equity of 5.39% and a net margin of 8.31%. The company had revenue of $646.21 million for the quarter, compared to the consensus estimate of $639.53 million. During the same quarter last year, the business posted $0.11 EPS. BioMarin Pharmaceutical’s revenue for the quarter was up 20.2% on a year-over-year basis. Sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 1.85 earnings per share for the current year.

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.