DnB Asset Management AS Sells 81,458 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

DnB Asset Management AS cut its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 7.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 993,170 shares of the biotechnology company's stock after selling 81,458 shares during the quarter. DnB Asset Management AS owned approximately 0.52% of BioMarin Pharmaceutical worth $65,281,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. New Age Alpha Advisors LLC bought a new stake in shares of BioMarin Pharmaceutical in the fourth quarter valued at approximately $1,540,000. Norges Bank bought a new stake in BioMarin Pharmaceutical during the fourth quarter worth about $234,645,000. Sava Infond d.o.o. acquired a new stake in BioMarin Pharmaceutical during the fourth quarter worth about $214,000. Elo Mutual Pension Insurance Co raised its position in BioMarin Pharmaceutical by 13.1% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 19,069 shares of the biotechnology company's stock valued at $1,253,000 after purchasing an additional 2,203 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in BioMarin Pharmaceutical by 13.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 143,145 shares of the biotechnology company's stock valued at $9,566,000 after acquiring an additional 16,471 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Price Performance

Shares of BMRN traded down $1.15 during trading hours on Tuesday, reaching $69.55. 232,298 shares of the company's stock traded hands, compared to its average volume of 1,836,867. 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 firm's 50 day simple moving average is $67.64 and its 200-day simple moving average is $67.42. The stock has a market cap of $13.27 billion, a PE ratio of 31.71, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a 12 month low of $60.63 and a 12 month high of $94.85.

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

Analysts Set New Price Targets

BMRN has been the subject of several research analyst reports. StockNews.com upgraded shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a report on Tuesday, March 18th. Oppenheimer upgraded BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 target price for the company in a research report on Monday, February 24th. Citigroup upped their price objective on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Cantor Fitzgerald reissued an "overweight" rating and set a $90.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Finally, Wedbush reaffirmed an "outperform" rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $94.00.

Insider Activity

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,295 shares of the business'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 sale, the chief accounting officer now directly owns 16,955 shares of the company's stock, valued at $1,212,621.60. The trade was a 7.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.85% 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.