Clearbridge Investments LLC Sells 35,140 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Clearbridge Investments LLC decreased its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 14.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 210,254 shares of the biotechnology company's stock after selling 35,140 shares during the period. Clearbridge Investments LLC owned about 0.11% of BioMarin Pharmaceutical worth $13,820,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of BMRN. Merit Financial Group LLC bought a new stake in shares of BioMarin Pharmaceutical in the fourth quarter worth $317,000. Assenagon Asset Management S.A. lifted its position in BioMarin Pharmaceutical by 461.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company's stock worth $40,205,000 after buying an additional 502,695 shares in the last quarter. Wedmont Private Capital acquired a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth about $430,000. Swedbank AB grew its holdings in shares of BioMarin Pharmaceutical by 11.2% in the 4th quarter. Swedbank AB now owns 432,122 shares of the biotechnology company's stock valued at $28,403,000 after acquiring an additional 43,593 shares in the last quarter. Finally, Tidal Investments LLC grew its holdings in shares of BioMarin Pharmaceutical by 150.4% in the 3rd quarter. Tidal Investments LLC now owns 30,467 shares of the biotechnology company's stock valued at $2,142,000 after acquiring an additional 18,300 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company's stock.

Analysts Set New Price Targets

BMRN has been the subject of several recent research reports. Oppenheimer raised BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 price target for the company in a research report on Monday, February 24th. Citigroup increased their price objective on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Cantor Fitzgerald restated an "overweight" rating and set a $90.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Scotiabank increased their price target on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a "sector perform" rating in a research note on Thursday, February 20th. Finally, Wedbush reissued an "outperform" rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, BioMarin Pharmaceutical has a consensus rating of "Moderate Buy" and a consensus price target of $94.00.

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Insider Activity

In related news, CAO Erin Burkhart sold 1,344 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $68.38, for a total transaction of $91,902.72. Following the sale, the chief accounting officer now directly owns 13,105 shares of the company's stock, valued at approximately $896,119.90. The trade was a 9.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.85% of the company's stock.

BioMarin Pharmaceutical Price Performance

BMRN stock traded down $7.22 during midday trading on Friday, reaching $60.26. The company had a trading volume of 3,545,266 shares, compared to its average volume of 1,857,849. The company has a market capitalization of $11.50 billion, a price-to-earnings ratio of 27.39, a price-to-earnings-growth ratio of 0.61 and a beta of 0.30. 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 Inc. has a 1-year low of $60.02 and a 1-year high of $94.85. The stock has a 50 day moving average price of $67.95 and a 200-day moving average price of $67.24.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted 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 net margin of 14.96% and a return on equity of 9.91%. The business had revenue of $747.31 million for the quarter, compared to analyst estimates of $711.05 million. Equities research 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.