Cerity Partners LLC Lowers Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Cerity Partners LLC cut its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 52.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,935 shares of the biotechnology company's stock after selling 31,404 shares during the quarter. Cerity Partners LLC's holdings in BioMarin Pharmaceutical were worth $1,858,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MML Investors Services LLC boosted its stake in BioMarin Pharmaceutical by 8.1% during the third quarter. MML Investors Services LLC now owns 7,621 shares of the biotechnology company's stock worth $536,000 after buying an additional 572 shares during the period. Virtu Financial LLC purchased a new position in shares of BioMarin Pharmaceutical during the 3rd quarter worth approximately $809,000. Tidal Investments LLC boosted its position in shares of BioMarin Pharmaceutical by 150.4% during the 3rd quarter. Tidal Investments LLC now owns 30,467 shares of the biotechnology company's stock worth $2,142,000 after purchasing an additional 18,300 shares during the period. Synovus Financial Corp increased its holdings in BioMarin Pharmaceutical by 25.7% in the 3rd quarter. Synovus Financial Corp now owns 30,253 shares of the biotechnology company's stock valued at $2,127,000 after purchasing an additional 6,191 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in BioMarin Pharmaceutical by 57.5% in the fourth quarter. GAMMA Investing LLC now owns 1,232 shares of the biotechnology company's stock valued at $81,000 after purchasing an additional 450 shares during the period. 98.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wedbush reaffirmed an "outperform" rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. StockNews.com downgraded BioMarin Pharmaceutical from a "strong-buy" rating to a "buy" rating in a research report on Thursday, April 17th. Citigroup increased their price target on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Cantor Fitzgerald restated an "overweight" rating and issued a $90.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Finally, UBS Group upped their target price on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $94.00.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,295 shares of the company's stock in a transaction dated Wednesday, March 19th. The stock was 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. This represents a 7.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.85% of the stock is currently owned by insiders.

BioMarin Pharmaceutical Stock Up 4.9 %

BMRN traded up $2.85 on Tuesday, reaching $61.50. The company's stock had a trading volume of 5,176,019 shares, compared to its average volume of 1,899,776. The company has a market capitalization of $11.73 billion, a price-to-earnings ratio of 27.95, a P/E/G ratio of 0.61 and a beta of 0.30. BioMarin Pharmaceutical Inc. has a fifty-two week low of $52.93 and a fifty-two week 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. The stock has a 50 day moving average of $66.54 and a two-hundred day moving average of $66.13.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last issued its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.18. The business had revenue of $747.31 million during the quarter, compared to analysts' expectations of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. As a group, analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.

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.