Van ECK Associates Corp Has $12.93 Million Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Van ECK Associates Corp trimmed its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 13.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 134,096 shares of the biotechnology company’s stock after selling 20,975 shares during the period. Van ECK Associates Corp owned approximately 0.07% of BioMarin Pharmaceutical worth $12,930,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. KB Financial Partners LLC boosted its position in BioMarin Pharmaceutical by 51.3% during the 3rd quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 118 shares during the last quarter. Castleview Partners LLC acquired a new position in BioMarin Pharmaceutical during the third quarter worth $35,000. Lindbrook Capital LLC grew its position in BioMarin Pharmaceutical by 259.8% in 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 in the last quarter. Allworth Financial LP increased its stake in BioMarin Pharmaceutical by 54.9% in the 4th quarter. Allworth Financial LP now owns 604 shares of the biotechnology company’s stock valued at $58,000 after buying an additional 214 shares during the last quarter. Finally, Signaturefd LLC increased its stake in 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 buying an additional 195 shares during the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BMRN has been the subject of several analyst reports. Scotiabank raised their price objective on BioMarin Pharmaceutical from $83.00 to $85.00 and gave the company a “sector perform” rating in a report on Thursday, April 25th. Cantor Fitzgerald restated an “overweight” rating and issued a $110.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, April 25th. Wells Fargo & Company boosted their price target on BioMarin Pharmaceutical from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Morgan Stanley cut their price objective on BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating for the company in a report on Friday, April 26th. Finally, 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 report on Thursday, April 25th. 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.com, the stock has an average rating of “Moderate Buy” and an average target price of $107.50.

BioMarin Pharmaceutical Stock Performance

Shares of BioMarin Pharmaceutical stock opened at $83.33 on Thursday. The company has a 50 day moving average of $87.19 and a 200-day moving average of $89.03. The company has a market cap of $15.82 billion, a PE ratio of 77.88, a price-to-earnings-growth ratio of 1.30 and a beta of 0.31. The company has a current ratio of 2.74, a quick ratio of 1.57 and a debt-to-equity ratio of 0.12. BioMarin Pharmaceutical Inc. has a 1-year low of $76.02 and a 1-year high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.05. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. The firm had revenue of $646.21 million during the quarter, compared to analysts’ expectations of $639.53 million. During the same period in the prior year, the company earned $0.11 earnings per share. The company’s quarterly revenue was up 20.2% on a year-over-year basis. As a group, equities research analysts forecast that BioMarin Pharmaceutical Inc. will post 1.97 earnings per share for the current fiscal year.

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, insider Henry J. Fuchs sold 35,341 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $85.18, for a total value of $3,010,346.38. Following the sale, the insider now owns 212,117 shares in the company, valued at $18,068,126.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 2,286 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $90.00, for a total value of $205,740.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,156 shares in the company, valued at approximately $1,454,040. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Henry J. Fuchs sold 35,341 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $85.18, for a total transaction of $3,010,346.38. Following the transaction, the insider now directly owns 212,117 shares of the company’s stock, valued at approximately $18,068,126.06. The disclosure for this sale can be found here. Insiders have sold 103,229 shares of company stock valued at $9,062,967 over the last ninety days. 1.85% of the stock is owned by corporate insiders.

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.