Alliancebernstein L.P. Cuts Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Alliancebernstein L.P. trimmed its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 7.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 257,385 shares of the biotechnology company's stock after selling 22,055 shares during the period. Alliancebernstein L.P. owned about 0.14% of BioMarin Pharmaceutical worth $16,918,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Merit Financial Group LLC purchased a new stake in shares of BioMarin Pharmaceutical in the fourth quarter valued at approximately $317,000. Assenagon Asset Management S.A. increased its position in BioMarin Pharmaceutical by 461.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company's stock valued at $40,205,000 after buying an additional 502,695 shares in the last quarter. Wedmont Private Capital purchased a new stake in BioMarin Pharmaceutical in the fourth quarter valued at about $430,000. Swedbank AB raised its position in shares of BioMarin Pharmaceutical by 11.2% in the 4th quarter. Swedbank AB now owns 432,122 shares of the biotechnology company's stock valued at $28,403,000 after purchasing an additional 43,593 shares during the last quarter. Finally, Tidal Investments LLC grew its holdings in shares of BioMarin Pharmaceutical by 150.4% during the third quarter. Tidal Investments LLC now owns 30,467 shares of the biotechnology company's stock valued at $2,142,000 after buying an additional 18,300 shares during the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Analyst Ratings Changes

BMRN has been the subject of a number of recent research reports. StockNews.com upgraded BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, April 9th. Wedbush reissued an "outperform" rating and issued a $94.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $70.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Citigroup lifted their target price on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Finally, Oppenheimer upgraded shares of BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 price target on the stock in a research report on Monday, February 24th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $94.00.

BioMarin Pharmaceutical Trading Up 2.3 %

Shares of BMRN traded up $1.32 during midday trading on Monday, reaching $58.14. The company had a trading volume of 70,471 shares, compared to its average volume of 1,875,658. BioMarin Pharmaceutical Inc. has a 1-year low of $52.93 and a 1-year high of $94.85. 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 firm has a 50 day simple moving average of $67.19 and a 200-day simple moving average of $66.60. The stock has a market cap of $11.09 billion, a PE ratio of 26.43, a price-to-earnings-growth ratio of 0.61 and a beta of 0.30.

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

Insider Activity at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,295 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total value of $92,618.40. Following the sale, the chief accounting officer now directly owns 16,955 shares of the company's stock, valued at approximately $1,212,621.60. The trade was a 7.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.85% of the stock is currently owned by insiders.

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.