Erste Asset Management GmbH Cuts Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Erste Asset Management GmbH trimmed its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 89.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,935 shares of the biotechnology company's stock after selling 620,000 shares during the quarter. Erste Asset Management GmbH's holdings in BioMarin Pharmaceutical were worth $4,580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund boosted its holdings in BioMarin Pharmaceutical by 0.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 38,738 shares of the biotechnology company's stock worth $2,546,000 after acquiring an additional 164 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of BioMarin Pharmaceutical by 13.9% during the 4th quarter. Fifth Third Bancorp now owns 1,351 shares of the biotechnology company's stock worth $89,000 after purchasing an additional 165 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of BioMarin Pharmaceutical by 0.8% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,105 shares of the biotechnology company's stock worth $1,483,000 after purchasing an additional 173 shares during the period. Advisors Asset Management Inc. raised its stake in shares of BioMarin Pharmaceutical by 1.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 11,451 shares of the biotechnology company's stock worth $805,000 after purchasing an additional 180 shares during the period. Finally, TD Private Client Wealth LLC raised its stake in shares of BioMarin Pharmaceutical by 57.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company's stock worth $36,000 after purchasing an additional 186 shares during the period. 98.71% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,344 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $68.38, for a total transaction of $91,902.72. Following the completion of the transaction, the chief accounting officer now owns 13,105 shares of the company's stock, valued at approximately $896,119.90. The trade was a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.85% of the stock is owned by insiders.

BioMarin Pharmaceutical Price Performance

Shares of BMRN traded down $0.20 during midday trading on Wednesday, hitting $71.32. 1,799,252 shares of the company traded hands, compared to its average volume of 1,772,828. The stock has a 50-day moving average of $66.38 and a 200-day moving average of $68.38. BioMarin Pharmaceutical Inc. has a one year low of $60.63 and a one year high of $94.85. The firm has a market cap of $13.61 billion, a P/E ratio of 32.42, a PEG ratio of 0.61 and a beta of 0.33. 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 (NASDAQ:BMRN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 EPS 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 company had revenue of $747.31 million during the quarter, compared to analyst estimates of $711.05 million. As a group, sell-side analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on BMRN shares. Scotiabank lifted their target price on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 20th. Cantor Fitzgerald reiterated an "overweight" rating and set a $90.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Citigroup lifted their target price on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Royal Bank of Canada restated a "sector perform" rating and issued a $70.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Finally, UBS Group boosted 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. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, BioMarin Pharmaceutical currently has an average rating of "Moderate Buy" and a consensus target price 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.