BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. reduced its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 15.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 412,299 shares of the biotechnology company's stock after selling 73,310 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.22% of BioMarin Pharmaceutical worth $27,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of BMRN. Norges Bank purchased a new stake in shares of BioMarin Pharmaceutical in the fourth quarter worth about $234,645,000. Erste Asset Management GmbH purchased a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter worth approximately $48,527,000. Assenagon Asset Management S.A. boosted its position in shares of BioMarin Pharmaceutical by 461.3% during 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 acquiring an additional 502,695 shares during the last quarter. Clearline Capital LP purchased a new position in shares of BioMarin Pharmaceutical in the third quarter valued at $22,477,000. Finally, Bellevue Group AG grew its holdings in shares of BioMarin Pharmaceutical by 533.7% in the third quarter. Bellevue Group AG now owns 330,976 shares of the biotechnology company's stock valued at $23,264,000 after purchasing an additional 278,744 shares in the last quarter. Institutional investors own 98.71% of the company's stock.

Insider Transactions at BioMarin Pharmaceutical

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 value of $92,618.40. Following the completion of the sale, the chief accounting officer now directly owns 16,955 shares in the company, valued at $1,212,621.60. This trade represents a 7.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.85% of the company's stock.

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Wall Street Analyst Weigh In

Several research firms have commented on BMRN. Citigroup increased their price objective on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a "neutral" rating in a research report 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 report on Thursday, February 20th. Bank of America boosted their price objective on 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 raised their price objective on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Finally, StockNews.com downgraded BioMarin Pharmaceutical from a "strong-buy" rating to a "buy" rating in a research report on Tuesday. Seven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $94.00.

BioMarin Pharmaceutical Trading Down 0.8 %

BMRN traded down $0.55 during trading on Thursday, hitting $67.77. 314,672 shares of the stock were exchanged, compared to its average volume of 1,531,180. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33. The firm has a 50 day simple moving average of $67.88 and a 200 day simple moving average of $67.30. The firm has a market cap of $12.93 billion, a price-to-earnings ratio of 30.80, a P/E/G ratio of 0.61 and a beta of 0.33. 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 posted its quarterly 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 analyst estimates of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. As a group, equities analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

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.