Bellevue Group AG Sells 3,989 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Bellevue Group AG lowered its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 321,787 shares of the biotechnology company’s stock after selling 3,989 shares during the quarter. Bellevue Group AG owned approximately 0.17% of BioMarin Pharmaceutical worth $28,105,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in BMRN. Capital Research Global Investors grew its stake in shares of BioMarin Pharmaceutical by 79.0% during the fourth quarter. Capital Research Global Investors now owns 10,774,641 shares of the biotechnology company’s stock worth $1,038,907,000 after purchasing an additional 4,756,671 shares during the period. Norges Bank acquired a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth $324,098,000. Avoro Capital Advisors LLC grew its stake in shares of BioMarin Pharmaceutical by 11.7% during the fourth quarter. Avoro Capital Advisors LLC now owns 4,300,000 shares of the biotechnology company’s stock worth $414,606,000 after purchasing an additional 450,000 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of BioMarin Pharmaceutical by 33.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,605,983 shares of the biotechnology company’s stock worth $154,850,000 after purchasing an additional 401,152 shares during the period. Finally, Third Point LLC acquired a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth $37,122,000. 98.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BMRN has been the subject of a number of research analyst reports. Robert W. Baird cut BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $104.00 to $72.00 in a research note on Friday, May 17th. Evercore ISI assumed coverage on BioMarin Pharmaceutical in a research note on Tuesday, May 14th. They issued an “outperform” rating and a $113.00 target price for the company. Morgan Stanley reduced their price objective 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $110.00 price objective on shares of BioMarin Pharmaceutical in a research report on Monday, July 22nd. Finally, StockNews.com cut BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.00.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP George Eric Davis sold 40,850 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $74.51, for a total value of $3,043,733.50. Following the transaction, the executive vice president now owns 56,157 shares of the company’s stock, valued at $4,184,258.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Jean Jacques Bienaime sold 20,000 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $81.62, for a total transaction of $1,632,400.00. Following the sale, the director now owns 474,994 shares of the company’s stock, valued at $38,769,010.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP George Eric Davis sold 40,850 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $74.51, for a total value of $3,043,733.50. Following the sale, the executive vice president now directly owns 56,157 shares in the company, valued at approximately $4,184,258.07. The disclosure for this sale can be found here. Insiders have sold 67,700 shares of company stock worth $5,209,352 over the last 90 days. Company insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN traded down $1.00 on Friday, hitting $84.59. The company’s stock had a trading volume of 1,063,391 shares, compared to its average volume of 1,262,695. The company has a current ratio of 2.74, a quick ratio of 1.70 and a debt-to-equity ratio of 0.12. The stock has a fifty day moving average of $81.75 and a two-hundred day moving average of $85.40. The firm has a market capitalization of $16.06 billion, a P/E ratio of 79.06, a price-to-earnings-growth ratio of 1.20 and a beta of 0.32. BioMarin Pharmaceutical Inc. has a one year low of $73.68 and a one year high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.12. The firm had revenue of $648.83 million for the quarter, compared to analyst estimates of $649.75 million. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. Research analysts predict that BioMarin Pharmaceutical Inc. will post 2 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.