Motley Fool Asset Management LLC Trims Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Motley Fool Asset Management LLC trimmed its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 91.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,312 shares of the biotechnology company's stock after selling 135,486 shares during the period. Motley Fool Asset Management LLC's holdings in BioMarin Pharmaceutical were worth $875,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Merit Financial Group LLC purchased a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth $317,000. Assenagon Asset Management S.A. lifted its stake in shares of BioMarin Pharmaceutical by 461.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company's stock valued at $40,205,000 after purchasing an additional 502,695 shares during the last quarter. Wedmont Private Capital bought a new stake in BioMarin Pharmaceutical in the fourth quarter worth $430,000. Swedbank AB increased its position in 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 buying an additional 43,593 shares during the last quarter. Finally, Tidal Investments LLC raised its stake in shares of BioMarin Pharmaceutical by 150.4% in the 3rd quarter. Tidal Investments LLC now owns 30,467 shares of the biotechnology company's stock valued at $2,142,000 after acquiring an additional 18,300 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,295 shares of the firm's stock in a transaction that occurred on 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 owns 16,955 shares in the company, valued at approximately $1,212,621.60. This trade represents a 7.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.85% of the stock is currently owned by corporate insiders.

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BioMarin Pharmaceutical Trading Up 6.3 %

NASDAQ BMRN traded up $3.54 during trading on Wednesday, hitting $59.43. The company had a trading volume of 3,582,347 shares, compared to its average volume of 1,884,805. The company's fifty day moving average is $67.44 and its 200-day moving average is $66.80. The company has a market cap of $11.34 billion, a price-to-earnings ratio of 27.01, a price-to-earnings-growth ratio of 0.61 and a beta of 0.30. 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 Inc. has a one year low of $52.93 and a one year high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last issued its quarterly 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 return on equity of 9.91% and a net margin of 14.96%. The firm had revenue of $747.31 million for the quarter, compared to analysts' expectations of $711.05 million. On average, sell-side analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Oppenheimer raised shares of BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 price target for the company in a report on Monday, February 24th. Bank of America boosted their price target on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a "buy" rating in a report on Thursday, February 20th. StockNews.com raised BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a report on Wednesday. Citigroup lifted their price target on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Finally, Wedbush reissued an "outperform" rating and issued a $94.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.00.

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.