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

Clearbridge Investments LLC trimmed its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 14.3% in 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 quarter. Clearbridge Investments LLC owned about 0.11% of BioMarin Pharmaceutical worth $13,820,000 at the end of the most recent reporting period.

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

BioMarin Pharmaceutical Price Performance

Shares of BioMarin Pharmaceutical stock traded down $1.10 during trading on Monday, reaching $59.16. 4,049,659 shares of the stock traded hands, compared to its average volume of 1,870,683. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. The company has a market capitalization of $11.29 billion, a price-to-earnings ratio of 26.89, a P/E/G ratio of 0.61 and a beta of 0.30. BioMarin Pharmaceutical Inc. has a 52-week low of $56.86 and a 52-week high of $94.85. The business has a fifty day simple moving average of $67.90 and a two-hundred day simple moving average of $67.10.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share 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 return on equity of 9.91% and a net margin of 14.96%. Sell-side analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,295 shares of BioMarin Pharmaceutical 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 $1,212,621.60. This trade represents a 7.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.85% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on BMRN. Cantor Fitzgerald reiterated an "overweight" rating and set a $90.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Bank of America increased their price objective on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. UBS Group raised their price objective on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Citigroup upped their target price on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Finally, 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 note on Monday, February 24th. Seven equities research 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, BioMarin Pharmaceutical has an average rating of "Moderate Buy" and a consensus price target of $94.00.

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.