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

Sector Gamma AS lessened its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 10.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 86,247 shares of the biotechnology company’s stock after selling 9,801 shares during the quarter. BioMarin Pharmaceutical makes up about 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 SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BMRN. CWM LLC lifted its position in BioMarin Pharmaceutical by 10.0% during the third quarter. CWM LLC now owns 1,301 shares of the biotechnology company’s stock valued at $115,000 after acquiring an additional 118 shares during the last quarter. State of Alaska Department of Revenue lifted its position in BioMarin Pharmaceutical by 3.2% during the third quarter. State of Alaska Department of Revenue now owns 27,605 shares of the biotechnology company’s stock valued at $2,442,000 after acquiring an additional 865 shares during the last quarter. Handelsbanken Fonder AB lifted its position in BioMarin Pharmaceutical by 1.8% during the third quarter. Handelsbanken Fonder AB now owns 91,755 shares of the biotechnology company’s stock valued at $8,118,000 after acquiring an additional 1,593 shares during the last quarter. Simplicity Solutions LLC lifted its position in BioMarin Pharmaceutical by 8.4% during the third quarter. Simplicity Solutions LLC now owns 2,971 shares of the biotechnology company’s stock valued at $263,000 after acquiring an additional 229 shares during the last quarter. Finally, AMI Asset Management Corp purchased a new stake in BioMarin Pharmaceutical during the third quarter valued at approximately $27,838,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 2,286 shares of the business’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 transaction of $205,740.00. Following the completion of the transaction, the chief accounting officer now owns 16,156 shares in the company, valued at approximately $1,454,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Erin Burkhart sold 2,286 shares of the business’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 transaction of $205,740.00. Following the completion of the sale, the chief accounting officer now owns 16,156 shares in the company, valued at approximately $1,454,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Henry J. Fuchs sold 35,341 shares of the business’s stock in a transaction that occurred 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 sale, the insider now 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. Over the last quarter, insiders sold 103,229 shares of company stock worth $9,062,967. Corporate insiders own 1.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Robert W. Baird decreased their target price on shares of BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating for the company in a research report on Tuesday, January 30th. Citigroup decreased their price target on shares of BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating for the company in a report on Thursday. Canaccord Genuity Group decreased their price target on shares of BioMarin Pharmaceutical from $91.00 to $89.00 and set a “hold” rating for the company in a report on Friday. Piper Sandler decreased their price target on shares of BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating for the company in a report on Friday, February 23rd. Finally, Scotiabank raised their price target on shares of BioMarin Pharmaceutical from $83.00 to $85.00 and gave the stock a “sector perform” rating in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $107.50.

BioMarin Pharmaceutical Stock Down 1.5 %

Shares of BMRN stock traded down $1.26 during trading 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 company has a debt-to-equity ratio of 0.12, a current ratio of 2.51 and a quick ratio of 1.57. The company has a market capitalization 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 stock’s 50-day moving average price is $87.58 and its 200 day moving average price is $89.13. BioMarin Pharmaceutical Inc. has a 1-year low of $76.02 and a 1-year high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. The firm had revenue of $646.21 million during the quarter, compared to analysts’ expectations of $639.53 million. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.39%. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.11 earnings per share. On average, research analysts anticipate that BioMarin Pharmaceutical Inc. will post 1.85 EPS for the current year.

BioMarin Pharmaceutical 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.