Sanctuary Advisors LLC Sells 710 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Sanctuary Advisors LLC lessened its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,333 shares of the biotechnology company’s stock after selling 710 shares during the quarter. Sanctuary Advisors LLC’s holdings in BioMarin Pharmaceutical were worth $1,371,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in shares of BioMarin Pharmaceutical in the 3rd quarter valued at about $809,000. TD Private Client Wealth LLC boosted its stake in BioMarin Pharmaceutical by 57.4% in the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 186 shares during the last quarter. Toronto Dominion Bank grew its holdings in BioMarin Pharmaceutical by 31.3% during the 3rd quarter. Toronto Dominion Bank now owns 23,942 shares of the biotechnology company’s stock worth $1,683,000 after acquiring an additional 5,711 shares during the period. Neo Ivy Capital Management raised its position in shares of BioMarin Pharmaceutical by 2,225.2% during the 3rd quarter. Neo Ivy Capital Management now owns 21,020 shares of the biotechnology company’s stock valued at $1,478,000 after acquiring an additional 20,116 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of BioMarin Pharmaceutical by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,260,050 shares of the biotechnology company’s stock valued at $228,632,000 after acquiring an additional 60,692 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Charles Greg Guyer sold 5,278 shares of BioMarin Pharmaceutical stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total value of $350,300.86. Following the completion of the transaction, the executive vice president now owns 68,909 shares of the company’s stock, valued at $4,573,490.33. This trade represents a 7.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.85% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on BMRN. Truist Financial decreased their price objective on BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Piper Sandler increased their price target on shares of BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Evercore ISI decreased their price objective on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. William Blair lowered shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Finally, Raymond James reissued an “outperform” rating and issued a $79.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $94.20.

BioMarin Pharmaceutical Stock Up 1.0 %

BioMarin Pharmaceutical stock opened at $65.66 on Friday. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 1-year low of $61.15 and a 1-year high of $99.25. The company has a fifty day simple moving average of $66.58 and a 200 day simple moving average of $76.80. The company has a market cap of $12.51 billion, a P/E ratio of 39.32, a price-to-earnings-growth ratio of 0.65 and a beta of 0.29.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.23). BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The company had revenue of $746.00 million during the quarter, compared to the consensus estimate of $703.37 million. During the same quarter in the previous year, the business earned $0.26 EPS. BioMarin Pharmaceutical’s revenue was up 28.4% on a year-over-year basis. Research analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.49 earnings per share for the current fiscal 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.