EverSource Wealth Advisors LLC Cuts Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

EverSource Wealth Advisors LLC lessened its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 91.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 634 shares of the biotechnology company's stock after selling 6,469 shares during the period. EverSource Wealth Advisors LLC's holdings in BioMarin Pharmaceutical were worth $42,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in BMRN. Merit Financial Group LLC acquired a new stake in shares of BioMarin Pharmaceutical in the 4th quarter worth $317,000. Assenagon Asset Management S.A. lifted its position in BioMarin Pharmaceutical by 461.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company's stock valued at $40,205,000 after purchasing an additional 502,695 shares during the period. Wedmont Private Capital purchased a new stake in BioMarin Pharmaceutical in the 4th quarter valued at approximately $430,000. Swedbank AB increased its position in BioMarin Pharmaceutical by 11.2% during the 4th quarter. Swedbank AB now owns 432,122 shares of the biotechnology company's stock worth $28,403,000 after purchasing an additional 43,593 shares during the period. Finally, King Luther Capital Management Corp acquired a new position in BioMarin Pharmaceutical during the 3rd quarter worth approximately $2,027,000. Institutional investors and hedge funds own 98.71% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BMRN shares. Scotiabank lifted their price target on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a "sector perform" rating in a research note on Thursday, February 20th. Piper Sandler boosted their target price on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Citigroup increased their price target 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. Wedbush reissued an "outperform" rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $90.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $94.00.

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BioMarin Pharmaceutical Trading Up 1.1 %

BMRN stock traded up $0.75 during midday trading on Monday, hitting $71.99. The stock had a trading volume of 1,466,203 shares, compared to its average volume of 1,787,053. The company's 50-day moving average price is $66.58 and its 200 day moving average price is $67.96. 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 firm has a market cap of $13.73 billion, a PE ratio of 32.72, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33. 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 data 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 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. On average, equities research analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal year.

Insider Transactions at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,295 shares of the company's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total transaction of $92,618.40. Following the completion of the sale, the chief accounting officer now directly owns 16,955 shares in the company, valued at $1,212,621.60. This represents a 7.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.85% of the company's stock.

About BioMarin Pharmaceutical

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.