Nebula Research & Development LLC Sells 9,514 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Nebula Research & Development LLC lessened its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 18.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,185 shares of the biotechnology company's stock after selling 9,514 shares during the period. Nebula Research & Development LLC's holdings in BioMarin Pharmaceutical were worth $2,839,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of BMRN. SBI Securities Co. Ltd. acquired a new position in shares of BioMarin Pharmaceutical during the fourth quarter valued at $36,000. CIBC Private Wealth Group LLC boosted its stake in shares of BioMarin Pharmaceutical by 64.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company's stock valued at $41,000 after purchasing an additional 233 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of BioMarin Pharmaceutical by 111.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company's stock worth $58,000 after buying an additional 466 shares during the period. UMB Bank n.a. raised its stake in shares of BioMarin Pharmaceutical by 260.1% during the fourth quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company's stock worth $67,000 after buying an additional 736 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in BioMarin Pharmaceutical by 27.5% in the fourth quarter. Blue Trust Inc. now owns 1,095 shares of the biotechnology company's stock valued at $77,000 after buying an additional 236 shares during the period. 98.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on BMRN shares. Piper Sandler upped their target price on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Royal Bank of Canada reissued a "sector perform" rating and issued a $70.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. StockNews.com upgraded BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research report on Friday. 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. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $90.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $93.14.

BioMarin Pharmaceutical Stock Performance

NASDAQ BMRN traded up $0.56 on Friday, reaching $63.30. The stock had a trading volume of 750,685 shares, compared to its average volume of 1,866,959. The firm has a fifty day moving average of $66.40 and a two-hundred day moving average of $65.97. The company has a market cap of $12.08 billion, a P/E ratio of 28.77, a price-to-earnings-growth ratio of 0.61 and a beta of 0.30. BioMarin Pharmaceutical Inc. has a 1-year low of $52.93 and a 1-year high of $94.85. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last announced its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (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 analyst estimates of $711.05 million. On average, equities research analysts anticipate that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,295 shares of the firm's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total value of $92,618.40. Following the transaction, the chief accounting officer now owns 16,955 shares in the company, valued at approximately $1,212,621.60. This trade represents a 7.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.85% of the company's stock.

BioMarin Pharmaceutical Company 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.