ExodusPoint Capital Management LP Sells 28,494 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

ExodusPoint Capital Management LP lessened its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 36.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,817 shares of the biotechnology company's stock after selling 28,494 shares during the quarter. ExodusPoint Capital Management LP's holdings in BioMarin Pharmaceutical were worth $3,274,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. TD Private Client Wealth LLC raised its holdings in shares of BioMarin Pharmaceutical by 57.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company's stock worth $36,000 after purchasing an additional 186 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in BioMarin Pharmaceutical during the fourth quarter valued at about $36,000. CIBC Private Wealth Group LLC lifted its stake in BioMarin Pharmaceutical by 64.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company's stock valued at $41,000 after buying an additional 233 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in BioMarin Pharmaceutical by 111.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company's stock worth $58,000 after purchasing an additional 466 shares during the period. Finally, UMB Bank n.a. grew its position in BioMarin Pharmaceutical by 260.1% during the 4th quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company's stock worth $67,000 after purchasing an additional 736 shares in the last quarter. Institutional investors own 98.71% of the company's stock.

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Insiders Place Their Bets

In other news, CAO Erin Burkhart sold 1,344 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $68.38, for a total transaction of $91,902.72. Following the completion of the sale, the chief accounting officer now owns 13,105 shares in the company, valued at $896,119.90. The trade was a 9.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.85% of the company's stock.

Wall Street Analyst Weigh In

BMRN has been the topic of several research analyst reports. Scotiabank lifted their target price on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a "sector perform" rating in a research note on Thursday, February 20th. UBS Group boosted their target price on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Oppenheimer raised shares of BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 price objective on the stock in a research report on Monday, February 24th. Wedbush reiterated an "outperform" rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Finally, Bank of America boosted their target price on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a "buy" 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 given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $94.00.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock traded up $0.50 during mid-day trading on Friday, hitting $56.82. 2,390,026 shares of the company were exchanged, compared to its average volume of 1,884,827. The company has a market capitalization of $10.84 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 0.61 and a beta of 0.30. The business has a fifty day moving average of $67.19 and a 200 day moving average of $66.62. 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.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, beating 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 company had revenue of $747.31 million during the quarter, compared to analysts' expectations of $711.05 million. As a group, sell-side analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share 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.