Mitsubishi UFJ Trust & Banking Corp Lowers Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

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

Several other hedge funds have also recently bought and sold shares of the company. TD Private Client Wealth LLC raised its position in shares of BioMarin Pharmaceutical by 57.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company's stock worth $36,000 after acquiring an additional 186 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at $36,000. True Wealth Design LLC grew its position in shares of BioMarin Pharmaceutical by 13,400.0% in the 3rd quarter. True Wealth Design LLC now owns 810 shares of the biotechnology company's stock valued at $57,000 after buying an additional 804 shares during the last quarter. Smartleaf Asset Management LLC lifted its position 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 acquiring an additional 466 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in shares of BioMarin Pharmaceutical by 260.1% in the 4th quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company's stock valued at $67,000 after purchasing an additional 736 shares during the period. Institutional investors and hedge funds own 98.71% of the company's stock.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,295 shares of the firm'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 sale, the chief accounting officer now directly owns 16,955 shares of the company's stock, valued at $1,212,621.60. This trade represents a 7.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.85% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BMRN. Wedbush reiterated an "outperform" rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Bank of America increased their price target on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. UBS Group lifted their price objective on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Piper Sandler increased their target price on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $90.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $94.00.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN traded down $0.64 during midday trading on Thursday, hitting $67.68. 250,496 shares of the stock were exchanged, compared to its average volume of 1,839,436. The stock has a market cap of $12.91 billion, a P/E ratio of 30.76, a PEG ratio of 0.61 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a twelve month low of $60.63 and a twelve month high of $94.85. The company has a 50 day moving average price of $67.88 and a 200-day moving average price of $67.30. 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 announced its quarterly 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. 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 the consensus estimate of $711.05 million. On average, research analysts forecast 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.