Jump Financial LLC Trims Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Jump Financial LLC trimmed its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 77.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,431 shares of the biotechnology company's stock after selling 15,539 shares during the quarter. Jump Financial LLC's holdings in BioMarin Pharmaceutical were worth $291,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in BioMarin Pharmaceutical by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 19,372,185 shares of the biotechnology company's stock worth $1,273,334,000 after purchasing an additional 93,531 shares in the last quarter. Norges Bank bought a new position in shares of BioMarin Pharmaceutical in the fourth quarter worth $234,645,000. Geode Capital Management LLC increased its holdings in shares of BioMarin Pharmaceutical by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 3,288,778 shares of the biotechnology company's stock worth $215,784,000 after purchasing an additional 28,728 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of 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 buying an additional 21,880 shares in the last quarter. Finally, abrdn plc boosted its stake in BioMarin Pharmaceutical by 31.9% during the fourth quarter. abrdn plc now owns 695,802 shares of the biotechnology company's stock valued at $45,735,000 after buying an additional 168,121 shares during the period. 98.71% of the stock is currently owned by institutional investors.

Insider Activity

In related 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 transaction, the chief accounting officer now owns 16,955 shares in the company, valued at $1,212,621.60. The trade was a 7.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.85% of the company's stock.

BioMarin Pharmaceutical Price Performance

Shares of BioMarin Pharmaceutical stock opened at $63.30 on Friday. The stock has a market capitalization of $12.08 billion, a P/E ratio of 28.77, a price-to-earnings-growth 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 debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. The business's 50 day simple moving average is $66.40 and its two-hundred day simple moving average is $65.99.

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BMRN shares. Cantor Fitzgerald restated an "overweight" rating and issued a $90.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $70.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Oppenheimer raised shares of BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 price target for the company in a research note on Monday, February 24th. Scotiabank raised their price objective on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a "sector perform" rating in a research report on Thursday, February 20th. Finally, UBS Group lifted their price objective on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $93.14.

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.

Want to see what other hedge funds are holding BMRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.