BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich decreased its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 9.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,790 shares of the biotechnology company’s stock after selling 1,385 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in BioMarin Pharmaceutical were worth $1,233,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its stake in BioMarin Pharmaceutical by 7,368.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 60,571 shares of the biotechnology company’s stock worth $5,840,000 after acquiring an additional 59,760 shares during the period. EFG Asset Management North America Corp. raised its stake in BioMarin Pharmaceutical by 44.9% during the third quarter. EFG Asset Management North America Corp. now owns 67,322 shares of the biotechnology company’s stock worth $5,957,000 after acquiring an additional 20,874 shares during the period. International Assets Investment Management LLC acquired a new stake in BioMarin Pharmaceutical during the fourth quarter worth about $3,598,000. FMR LLC raised its stake in BioMarin Pharmaceutical by 30.4% during the third quarter. FMR LLC now owns 713,797 shares of the biotechnology company’s stock worth $63,157,000 after acquiring an additional 166,219 shares during the period. Finally, Nordea Investment Management AB raised its stake in BioMarin Pharmaceutical by 4.9% during the fourth quarter. Nordea Investment Management AB now owns 11,594 shares of the biotechnology company’s stock worth $1,121,000 after acquiring an additional 544 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BMRN shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $110.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday. Piper Sandler decreased their target price on shares of BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd. Morgan Stanley decreased their target price on shares of BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating for the company in a research report on Friday. Scotiabank upped their target price on shares of BioMarin Pharmaceutical from $83.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Thursday. Finally, Citigroup decreased their target price on shares of BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating for the company in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $107.50.

BioMarin Pharmaceutical Trading Down 1.5 %

Shares of NASDAQ BMRN opened at $80.91 on Friday. BioMarin Pharmaceutical Inc. has a 12 month low of $76.02 and a 12 month high of $99.56. The company has a market cap of $15.27 billion, a price-to-earnings ratio of 75.62, a P/E/G ratio of 1.51 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 fifty day simple moving average of $87.58 and a 200-day simple moving average of $89.13.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 EPS 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 business had revenue of $646.21 million during the quarter, compared to the consensus estimate of $639.53 million. During the same period in the prior year, the business posted $0.11 earnings per share. BioMarin Pharmaceutical’s revenue was up 20.2% compared to the same quarter last year. Sell-side analysts predict that BioMarin Pharmaceutical Inc. will post 1.85 EPS for the current year.

Insider Activity

In related news, Director Jean Jacques Bienaime sold 15,000 shares of the stock in a transaction dated 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 document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Henry J. Fuchs sold 35,341 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $85.18, for a total value of $3,010,346.38. Following the completion of the sale, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jean Jacques Bienaime sold 15,000 shares of the stock in a transaction dated 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 $37,042,464.56. The disclosure for this sale can be found here. Insiders sold a total of 103,229 shares of company stock valued at $9,062,967 over the last three months. Insiders own 1.84% 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.