Motley Fool Wealth Management LLC Has $22.73 Million Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Motley Fool Wealth Management LLC lessened its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 18.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 347,728 shares of the biotechnology company's stock after selling 76,869 shares during the period. BioMarin Pharmaceutical comprises 1.2% of Motley Fool Wealth Management LLC's portfolio, making the stock its 21st largest holding. Motley Fool Wealth Management LLC owned approximately 0.18% of BioMarin Pharmaceutical worth $22,731,000 at the end of the most recent quarter.

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

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Analysts Set New Price Targets

A number of analysts have recently commented on the company. Royal Bank of Canada restated a "sector perform" rating and set a $70.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Scotiabank lifted their price target on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a "sector perform" rating in a research report on Thursday, February 20th. Piper Sandler boosted their price objective 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. Bank of America raised their target price on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Finally, UBS Group upped their price target on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $94.00.

BioMarin Pharmaceutical Price Performance

NASDAQ:BMRN traded down $1.39 during trading hours on Friday, reaching $71.44. 1,245,485 shares of the company's stock were exchanged, compared to its average volume of 1,843,958. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $13.63 billion, a P/E ratio of 32.47, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a 12 month low of $60.63 and a 12 month high of $94.85. The business's 50-day simple moving average is $67.46 and its two-hundred day simple moving average is $67.63.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last announced its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.54 by $0.18. The business had revenue of $747.31 million during the quarter, compared to the consensus estimate of $711.05 million. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. Sell-side analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.

Insider Activity

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

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.