Knott David M Jr Reduces Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Knott David M Jr cut its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 82.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,800 shares of the biotechnology company's stock after selling 28,200 shares during the quarter. Knott David M Jr's holdings in BioMarin Pharmaceutical were worth $381,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. FMR LLC lifted its stake in shares of BioMarin Pharmaceutical by 21.7% in the third quarter. FMR LLC now owns 206,538 shares of the biotechnology company's stock worth $14,518,000 after buying an additional 36,877 shares in the last quarter. Quantbot Technologies LP bought a new position in BioMarin Pharmaceutical in the 3rd quarter valued at approximately $171,000. Glenmede Trust Co. NA bought a new position in BioMarin Pharmaceutical in the 3rd quarter valued at approximately $254,000. Rockefeller Capital Management L.P. boosted its stake in BioMarin Pharmaceutical by 16.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 266,633 shares of the biotechnology company's stock valued at $18,742,000 after purchasing an additional 37,805 shares during the last quarter. Finally, Captrust Financial Advisors increased its holdings in shares of BioMarin Pharmaceutical by 34.1% in the 3rd quarter. Captrust Financial Advisors now owns 10,900 shares of the biotechnology company's stock worth $766,000 after purchasing an additional 2,770 shares in the last quarter. Hedge funds and other institutional investors own 98.71% of the company's stock.

Insider Transactions at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,295 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.85% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Oppenheimer upgraded BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 price objective for the company in a report on Monday, February 24th. Wedbush reissued an "outperform" rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Scotiabank raised their target price on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a "sector perform" rating in a report on Thursday, February 20th. Cantor Fitzgerald reiterated an "overweight" rating and set a $90.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Finally, StockNews.com downgraded BioMarin Pharmaceutical from a "strong-buy" rating to a "buy" rating in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of "Moderate Buy" and an average price target of $94.00.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN traded up $0.38 during midday trading on Wednesday, reaching $68.32. 1,448,619 shares of the company were exchanged, compared to its average volume of 1,845,653. The stock has a market cap of $13.03 billion, a PE ratio of 31.05, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33. The business's fifty day moving average is $67.88 and its two-hundred day moving average is $67.30. BioMarin Pharmaceutical Inc. has a one year low of $60.63 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 issued its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.54 by $0.18. The firm had revenue of $747.31 million during 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%. As a group, analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

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.