Envestnet Asset Management Inc. Reduces Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Envestnet Asset Management Inc. reduced its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 14.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,121 shares of the biotechnology company's stock after selling 7,791 shares during the quarter. Envestnet Asset Management Inc.'s holdings in BioMarin Pharmaceutical were worth $2,966,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of BioMarin Pharmaceutical by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 19,372,185 shares of the biotechnology company's stock valued at $1,273,334,000 after buying an additional 93,531 shares during the last quarter. Norges Bank purchased a new position in BioMarin Pharmaceutical during the 4th quarter valued at $234,645,000. Geode Capital Management LLC grew its position in BioMarin Pharmaceutical by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 3,288,778 shares of the biotechnology company's stock valued at $215,784,000 after acquiring an additional 28,728 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in BioMarin Pharmaceutical by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,423,508 shares of the biotechnology company's stock worth $93,567,000 after purchasing an additional 21,880 shares during the period. Finally, abrdn plc lifted its position in shares of BioMarin Pharmaceutical by 31.9% during the fourth quarter. abrdn plc now owns 695,802 shares of the biotechnology company's stock worth $45,735,000 after purchasing an additional 168,121 shares during the last quarter. Institutional investors own 98.71% of the company's stock.

BioMarin Pharmaceutical Stock Up 0.9 %

BioMarin Pharmaceutical stock opened at $63.30 on Friday. BioMarin Pharmaceutical Inc. has a 1-year low of $52.93 and a 1-year high of $94.85. The business has a fifty day moving average price of $66.40 and a 200-day moving average price of $66.02. 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 stock has a market capitalization of $12.08 billion, a price-to-earnings ratio of 28.77, a PEG ratio of 0.61 and a beta of 0.30.

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

Insider Buying and Selling

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,295 shares of the firm'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 transaction, the chief accounting officer now owns 16,955 shares of the company's stock, valued at approximately $1,212,621.60. This trade represents a 7.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.85% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

BMRN has been the topic of several recent analyst reports. UBS Group raised their price target 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. Wedbush reaffirmed an "outperform" rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Bank of America increased their price objective on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Oppenheimer upgraded BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 price objective on the stock in a report on Monday, February 24th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $90.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of "Moderate Buy" and a consensus target price of $94.00.

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.

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