Mitsubishi UFJ Trust & Banking Corp Sells 55,073 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Mitsubishi UFJ Trust & Banking Corp lowered its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 26.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,835 shares of the biotechnology company's stock after selling 55,073 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.08% of BioMarin Pharmaceutical worth $10,177,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Erste Asset Management GmbH bought a new position in BioMarin Pharmaceutical in the 3rd quarter valued at approximately $48,527,000. Assenagon Asset Management S.A. boosted its position in BioMarin Pharmaceutical by 461.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company's stock valued at $40,205,000 after acquiring an additional 502,695 shares during the last quarter. Clearline Capital LP acquired a new stake in BioMarin Pharmaceutical during the third quarter worth approximately $22,477,000. Bellevue Group AG grew its position in shares of BioMarin Pharmaceutical by 533.7% during the 3rd quarter. Bellevue Group AG now owns 330,976 shares of the biotechnology company's stock worth $23,264,000 after buying an additional 278,744 shares during the period. Finally, Candriam S.C.A. grew its holdings in BioMarin Pharmaceutical by 77.2% in the fourth quarter. Candriam S.C.A. now owns 580,222 shares of the biotechnology company's stock worth $38,138,000 after purchasing an additional 252,820 shares during the period. Institutional investors own 98.71% of the company's stock.

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BioMarin Pharmaceutical Price Performance

NASDAQ BMRN traded up $0.12 during trading hours on Wednesday, reaching $68.06. 696,599 shares of the stock traded hands, compared to its average volume of 1,841,116. 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 company has a market cap of $12.98 billion, a price-to-earnings ratio of 30.94, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33. The stock has a 50 day simple moving average of $67.75 and a two-hundred day simple moving average of $67.30. BioMarin Pharmaceutical Inc. has a 1 year low of $60.63 and a 1 year high of $94.85.

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 analysts' consensus estimates 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. On average, analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,295 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total transaction of $92,618.40. Following the completion of the transaction, the chief accounting officer now directly owns 16,955 shares of the company's stock, valued at approximately $1,212,621.60. This represents a 7.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.85% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on BMRN shares. UBS Group boosted their price objective on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Bank of America boosted their target price on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Piper Sandler increased their price target on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Royal Bank of Canada reissued a "sector perform" rating and set a $70.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $90.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.00.

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.