Schroder Investment Management Group Sells 3,860,485 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Schroder Investment Management Group decreased its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 94.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 218,964 shares of the biotechnology company's stock after selling 3,860,485 shares during the period. Schroder Investment Management Group owned approximately 0.11% of BioMarin Pharmaceutical worth $14,393,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in BioMarin Pharmaceutical by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 19,372,185 shares of the biotechnology company's stock worth $1,273,334,000 after acquiring an additional 93,531 shares during the period. Norges Bank acquired a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth $234,645,000. Geode Capital Management LLC lifted its holdings in shares of BioMarin Pharmaceutical by 1.9% during the third quarter. Geode Capital Management LLC now owns 3,260,050 shares of the biotechnology company's stock valued at $228,632,000 after purchasing an additional 60,692 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of BioMarin Pharmaceutical by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,423,508 shares of the biotechnology company's stock valued at $93,567,000 after purchasing an additional 21,880 shares during the period. Finally, abrdn plc increased its position in shares of BioMarin Pharmaceutical by 31.9% in the fourth quarter. abrdn plc now owns 695,802 shares of the biotechnology company's stock worth $45,735,000 after acquiring an additional 168,121 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company's stock.

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BioMarin Pharmaceutical Trading Down 5.5 %

Shares of BMRN stock traded down $3.27 on Tuesday, hitting $55.89. The stock had a trading volume of 2,485,469 shares, compared to its average volume of 1,875,226. The firm has a market cap of $10.66 billion, a P/E ratio of 25.40, a PEG ratio of 0.61 and a beta of 0.30. BioMarin Pharmaceutical Inc. has a twelve month low of $55.55 and a twelve month high of $94.85. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The company has a fifty day moving average price of $67.60 and a two-hundred day moving average price of $66.92.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last announced its quarterly earnings results 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. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. The company had revenue of $747.31 million during the quarter, compared to the consensus estimate of $711.05 million. As a group, analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Wedbush reaffirmed an "outperform" rating and issued a $94.00 price target on shares of BioMarin Pharmaceutical in a research report 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 target on the stock in a research report on Monday, February 24th. Citigroup boosted their price objective on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $70.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Finally, Piper Sandler boosted their target price on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of "Moderate Buy" and an average target price of $94.00.

Insider Buying and Selling

In related news, CAO Erin Burkhart sold 1,295 shares of the company's stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 16,955 shares of the company's stock, valued at approximately $1,212,621.60. This represents a 7.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.85% of the stock is owned by company insiders.

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.