Corebridge Financial Inc. Sells 9,486 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Corebridge Financial Inc. lowered its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 4.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 215,638 shares of the biotechnology company's stock after selling 9,486 shares during the quarter. Corebridge Financial Inc. owned 0.11% of BioMarin Pharmaceutical worth $14,174,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of BioMarin Pharmaceutical by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 19,372,185 shares of the biotechnology company's stock worth $1,273,334,000 after purchasing an additional 93,531 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of BioMarin Pharmaceutical during the fourth quarter worth approximately $4,387,000. Sector Gamma AS grew its position in BioMarin Pharmaceutical by 14.2% in the 4th quarter. Sector Gamma AS now owns 217,348 shares of the biotechnology company's stock valued at $14,286,000 after purchasing an additional 27,000 shares during the period. Blueshift Asset Management LLC bought a new stake in BioMarin Pharmaceutical during the 4th quarter valued at $349,000. Finally, Teacher Retirement System of Texas lifted its stake in shares of BioMarin Pharmaceutical by 121.2% in the fourth quarter. Teacher Retirement System of Texas now owns 112,660 shares of the biotechnology company's stock valued at $7,405,000 after buying an additional 61,737 shares in the last quarter. 98.71% of the stock is owned by institutional investors.

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BioMarin Pharmaceutical Stock Performance

NASDAQ BMRN traded down $1.39 during trading on Friday, hitting $71.44. 1,245,485 shares of the company's stock traded hands, compared to its average volume of 1,843,958. The stock has a market capitalization of $13.63 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 0.61 and a beta of 0.33. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33. The business has a 50 day moving average of $67.46 and a 200-day moving average of $67.51. BioMarin Pharmaceutical Inc. has a 12-month low of $60.63 and a 12-month high of $94.85.

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

Wall Street Analyst Weigh In

BMRN has been the subject of a number of recent research reports. Piper Sandler boosted their price objective on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. UBS Group raised their price objective on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $90.00 target price on shares of BioMarin Pharmaceutical 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 report on Thursday, February 20th. Finally, Oppenheimer raised shares of BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 price objective for the company in a research report on Monday, February 24th. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of "Moderate Buy" and an average price target of $94.00.

Insider Transactions at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,295 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total value of $92,618.40. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through 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.