Keybank National Association OH Reduces Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Keybank National Association OH cut its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 57.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 69,584 shares of the biotechnology company's stock after selling 92,757 shares during the quarter. Keybank National Association OH's holdings in BioMarin Pharmaceutical were worth $4,574,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. 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. boosted its holdings 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 worth $40,205,000 after acquiring an additional 502,695 shares in the last quarter. Wedmont Private Capital acquired a new stake in BioMarin Pharmaceutical in the fourth quarter worth about $430,000. Swedbank AB grew its stake in shares of BioMarin Pharmaceutical by 11.2% during the fourth quarter. Swedbank AB now owns 432,122 shares of the biotechnology company's stock worth $28,403,000 after acquiring an additional 43,593 shares during the last quarter. Finally, EULAV Asset Management increased its holdings in shares of BioMarin Pharmaceutical by 12.9% during the third quarter. EULAV Asset Management now owns 131,000 shares of the biotechnology company's stock valued at $9,208,000 after acquiring an additional 15,000 shares in the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BMRN. UBS Group lifted their target price on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Royal Bank of Canada reiterated a "sector perform" rating and set a $70.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Cantor Fitzgerald reissued an "overweight" rating and issued a $90.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Wedbush reaffirmed an "outperform" rating and set a $94.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Finally, Piper Sandler boosted their price target on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of "Moderate Buy" and a consensus price target of $94.00.

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Insider Buying and Selling

In related news, CAO Erin Burkhart sold 1,344 shares of BioMarin Pharmaceutical stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $68.38, for a total value of $91,902.72. Following the sale, the chief accounting officer now directly owns 13,105 shares in the company, valued at approximately $896,119.90. The trade was a 9.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.85% of the stock is owned by insiders.

BioMarin Pharmaceutical Price Performance

Shares of BMRN stock traded up $1.02 during mid-day trading on Friday, hitting $72.23. 1,681,814 shares of the stock were exchanged, compared to its average volume of 1,778,652. 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 52-week low of $60.63 and a 52-week high of $94.85. The firm has a fifty day moving average of $65.76 and a 200 day moving average of $69.50. The company has a market cap of $13.78 billion, a PE ratio of 32.83, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33.

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, beating the consensus estimate of $0.54 by $0.18. The company had revenue of $747.31 million for the quarter, compared to analyst estimates of $711.05 million. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. Research analysts anticipate that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

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.