Sumitomo Mitsui Trust Group Inc. Has $32.06 Million Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Sumitomo Mitsui Trust Group Inc. increased its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 4.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 456,097 shares of the biotechnology company's stock after purchasing an additional 20,631 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.24% of BioMarin Pharmaceutical worth $32,059,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of BMRN. Quent Capital LLC grew its holdings in BioMarin Pharmaceutical by 58.9% during the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company's stock worth $32,000 after acquiring an additional 145 shares during the period. Voisard Asset Management Group Inc. grew its holdings in BioMarin Pharmaceutical by 17.8% during the 3rd quarter. Voisard Asset Management Group Inc. now owns 1,355 shares of the biotechnology company's stock worth $95,000 after acquiring an additional 205 shares during the period. GAMMA Investing LLC grew its holdings in BioMarin Pharmaceutical by 56.1% during the 3rd quarter. GAMMA Investing LLC now owns 782 shares of the biotechnology company's stock worth $55,000 after acquiring an additional 281 shares during the period. Innealta Capital LLC acquired a new stake in BioMarin Pharmaceutical during the 2nd quarter worth $25,000. Finally, Inspirion Wealth Advisors LLC grew its holdings in BioMarin Pharmaceutical by 2.3% during the 2nd quarter. Inspirion Wealth Advisors LLC now owns 13,458 shares of the biotechnology company's stock worth $1,108,000 after acquiring an additional 304 shares during the period. Institutional investors own 98.71% of the company's stock.

Insider Activity

In related news, EVP Charles Greg Guyer sold 5,278 shares of the company's 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 transaction, the executive vice president now owns 68,909 shares in the company, valued at approximately $4,573,490.33. This represents a 7.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.85% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Sanford C. Bernstein decreased their price target on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an "outperform" rating for the company in a report on Tuesday, September 17th. TD Cowen decreased their price target on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a "buy" rating for the company in a report on Tuesday, August 6th. JPMorgan Chase & Co. decreased their price target on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th. Cantor Fitzgerald decreased their price target on shares of BioMarin Pharmaceutical from $110.00 to $90.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th. Finally, William Blair lowered shares of BioMarin Pharmaceutical from an "outperform" rating to a "market perform" rating in a report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, BioMarin Pharmaceutical presently has an average rating of "Moderate Buy" and an average price target of $94.20.

BioMarin Pharmaceutical Stock Down 3.3 %

NASDAQ:BMRN traded down $2.18 on Friday, hitting $63.42. 1,687,439 shares of the company's stock were exchanged, compared to its average volume of 1,530,008. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62. The firm has a 50-day moving average price of $70.43 and a 200-day moving average price of $79.11. The company has a market cap of $12.09 billion, a P/E ratio of 37.98, a price-to-earnings-growth ratio of 0.63 and a beta of 0.31. BioMarin Pharmaceutical Inc. has a 52 week low of $63.22 and a 52 week high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last issued its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.78 by ($0.23). The firm had revenue of $746.00 million during the quarter, compared to the consensus estimate of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The firm's revenue for the quarter was up 28.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.26 earnings per share. As a group, analysts expect that BioMarin Pharmaceutical Inc. will post 2.47 EPS for the current fiscal 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.