Howe & Rusling Inc. Cuts Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Howe & Rusling Inc. reduced its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 20.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,355 shares of the biotechnology company's stock after selling 10,297 shares during the period. Howe & Rusling Inc.'s holdings in BioMarin Pharmaceutical were worth $2,587,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Erste Asset Management GmbH purchased a new position in shares of BioMarin Pharmaceutical during the 3rd quarter worth $48,527,000. Assenagon Asset Management S.A. boosted its stake in BioMarin Pharmaceutical by 461.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company's stock worth $40,205,000 after buying an additional 502,695 shares during the period. Vestal Point Capital LP acquired a new stake in shares of BioMarin Pharmaceutical during the third quarter valued at about $28,116,000. Clearline Capital LP purchased a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter valued at approximately $22,477,000. Finally, Bellevue Group AG lifted its holdings in shares of BioMarin Pharmaceutical by 533.7% in the 3rd quarter. Bellevue Group AG now owns 330,976 shares of the biotechnology company's stock worth $23,264,000 after acquiring an additional 278,744 shares during the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BMRN. StockNews.com raised BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, March 18th. Bank of America raised their target price on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Cantor Fitzgerald reiterated an "overweight" rating and set a $90.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Wedbush restated an "outperform" rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $70.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Seven equities research 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 stock. According to data from MarketBeat, BioMarin Pharmaceutical presently has an average rating of "Moderate Buy" and a consensus target price of $94.00.

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BioMarin Pharmaceutical Stock Performance

BMRN traded down $1.25 during trading on Monday, hitting $70.20. 423,422 shares of the stock were exchanged, compared to its average volume of 1,838,443. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 1-year low of $60.63 and a 1-year high of $94.85. The stock has a fifty day moving average price of $67.46 and a two-hundred day moving average price of $67.51. The firm has a market capitalization of $13.39 billion, a P/E ratio of 31.91, a PEG ratio of 0.61 and a beta of 0.33.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last announced its 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. The business had revenue of $747.31 million for the quarter, compared to analysts' expectations of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. As a group, sell-side analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Insider Transactions at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,344 shares of the company's stock in a transaction that occurred on 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 sale, the chief accounting officer now directly owns 13,105 shares of the company's stock, valued at $896,119.90. This represents a 9.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.85% of the company's stock.

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.