Machina Capital S.A.S. Cuts Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Machina Capital S.A.S. cut its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 51.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,684 shares of the biotechnology company's stock after selling 3,865 shares during the period. Machina Capital S.A.S.'s holdings in BioMarin Pharmaceutical were worth $242,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. TD Private Client Wealth LLC grew its position in BioMarin Pharmaceutical by 57.4% in the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company's stock valued at $36,000 after purchasing an additional 186 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at about $36,000. Meeder Asset Management Inc. increased its stake in shares of BioMarin Pharmaceutical by 920.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company's stock worth $52,000 after purchasing an additional 663 shares during the last quarter. True Wealth Design LLC increased its position in BioMarin Pharmaceutical by 13,400.0% during the third quarter. True Wealth Design LLC now owns 810 shares of the biotechnology company's stock worth $57,000 after buying an additional 804 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in BioMarin Pharmaceutical by 111.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company's stock valued at $58,000 after buying an additional 466 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BMRN. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $70.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Piper Sandler lifted their target price on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Wolfe Research assumed coverage on shares of BioMarin Pharmaceutical in a report on Friday, November 15th. They issued an "outperform" rating and a $95.00 price target on the stock. 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. Finally, Scotiabank boosted their price target on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a "sector perform" rating in a research note 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $94.00.

BioMarin Pharmaceutical Stock Up 0.1 %

BMRN stock traded up $0.06 during mid-day trading on Thursday, reaching $70.60. 931,876 shares of the company traded hands, compared to its average volume of 1,773,692. The stock has a market cap of $13.47 billion, a price-to-earnings ratio of 32.09, a P/E/G ratio of 0.61 and a beta of 0.33. The firm's 50 day moving average price is $66.08 and its 200 day moving average price is $69.09. BioMarin Pharmaceutical Inc. has a fifty-two week low of $60.63 and a fifty-two week high of $94.85. 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 (NASDAQ:BMRN - Get Free Report) last announced its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate 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, equities research analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.

Insider Activity at BioMarin Pharmaceutical

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

BioMarin Pharmaceutical Company 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.