AGF Management Ltd. Sells 1,194,524 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

AGF Management Ltd. reduced its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 96.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 39,932 shares of the biotechnology company's stock after selling 1,194,524 shares during the quarter. AGF Management Ltd.'s holdings in BioMarin Pharmaceutical were worth $2,625,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Merit Financial Group LLC purchased a new position in shares of BioMarin Pharmaceutical in the fourth quarter worth $317,000. Assenagon Asset Management S.A. increased its holdings in BioMarin Pharmaceutical by 461.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company's stock worth $40,205,000 after buying an additional 502,695 shares in the last quarter. Wedmont Private Capital purchased a new position in BioMarin Pharmaceutical in the 4th quarter worth about $430,000. Swedbank AB lifted its stake in BioMarin Pharmaceutical by 11.2% during the 4th quarter. Swedbank AB now owns 432,122 shares of the biotechnology company's stock valued at $28,403,000 after acquiring an additional 43,593 shares during the period. Finally, EULAV Asset Management boosted its holdings in shares of BioMarin Pharmaceutical by 12.9% during the 3rd quarter. EULAV Asset Management now owns 131,000 shares of the biotechnology company's stock valued at $9,208,000 after acquiring an additional 15,000 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Stock Performance

Shares of BioMarin Pharmaceutical stock opened at $70.60 on Friday. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11. The stock's fifty day moving average is $66.16 and its two-hundred day moving average is $69.10. BioMarin Pharmaceutical Inc. has a 52 week low of $60.63 and a 52 week high of $94.85. The company has a market capitalization of $13.47 billion, a PE ratio of 32.09, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33.

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BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.18. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. The firm had revenue of $747.31 million for the quarter, compared to analysts' expectations of $711.05 million. As a group, analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BMRN shares. Royal Bank of Canada reissued a "sector perform" rating and set a $70.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Cantor Fitzgerald reiterated an "overweight" rating and set a $90.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Scotiabank raised their price target on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 20th. Wolfe Research began coverage on BioMarin Pharmaceutical in a report on Friday, November 15th. They issued an "outperform" rating and a $95.00 price objective for the company. Finally, Piper Sandler increased their target price on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $94.00.

Insiders Place Their Bets

In related news, CAO Erin Burkhart sold 1,344 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $68.38, for a total value of $91,902.72. Following the completion of the sale, the chief accounting officer now owns 13,105 shares in the company, valued at approximately $896,119.90. The trade was a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.85% of the company's stock.

About BioMarin Pharmaceutical

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.

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