BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Holdings Trimmed by Invesco Ltd.

Invesco Ltd. lowered its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 92.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 504,781 shares of the biotechnology company's stock after selling 6,338,291 shares during the quarter. Invesco Ltd. owned about 0.26% of BioMarin Pharmaceutical worth $33,179,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of BMRN. MML Investors Services LLC raised its position in shares of BioMarin Pharmaceutical by 8.1% during the 3rd quarter. MML Investors Services LLC now owns 7,621 shares of the biotechnology company's stock valued at $536,000 after acquiring an additional 572 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of BioMarin Pharmaceutical during the third quarter worth $809,000. Tidal Investments LLC lifted its position in shares of BioMarin Pharmaceutical by 150.4% in the 3rd quarter. Tidal Investments LLC now owns 30,467 shares of the biotechnology company's stock worth $2,142,000 after buying an additional 18,300 shares during the last quarter. Synovus Financial Corp boosted its holdings in shares of BioMarin Pharmaceutical by 25.7% in the 3rd quarter. Synovus Financial Corp now owns 30,253 shares of the biotechnology company's stock valued at $2,127,000 after buying an additional 6,191 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of BioMarin Pharmaceutical by 57.5% during the 4th quarter. GAMMA Investing LLC now owns 1,232 shares of the biotechnology company's stock valued at $81,000 after buying an additional 450 shares during the last quarter. Institutional investors own 98.71% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BMRN shares. UBS Group lifted their target price on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Citigroup upped their price objective on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Wedbush reiterated an "outperform" rating and issued a $94.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Piper Sandler boosted their price target on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an "overweight" rating 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 on the stock in a report on Monday, February 24th. Seven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $94.00.

BioMarin Pharmaceutical Price Performance

BMRN stock traded up $1.49 during trading hours on Wednesday, hitting $62.99. 183,752 shares of the stock traded hands, compared to its average volume of 1,893,009. The stock has a 50-day simple moving average of $66.54 and a 200 day simple moving average of $66.13. The company has a market cap of $12.02 billion, a P/E ratio of 28.63, a P/E/G ratio of 0.61 and a beta of 0.30. BioMarin Pharmaceutical Inc. has a one year low of $52.93 and a one year high of $94.85. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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. Equities analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Insider Activity

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,295 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total transaction of $92,618.40. Following the sale, the chief accounting officer now owns 16,955 shares in the company, valued at approximately $1,212,621.60. The trade was a 7.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.