Swiss National Bank Decreases Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Swiss National Bank reduced its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 537,800 shares of the biotechnology company's stock after selling 25,800 shares during the quarter. Swiss National Bank owned 0.28% of BioMarin Pharmaceutical worth $35,350,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Primecap Management Co. CA lifted its stake in BioMarin Pharmaceutical by 0.4% in the 3rd quarter. Primecap Management Co. CA now owns 18,867,435 shares of the biotechnology company's stock valued at $1,326,192,000 after buying an additional 77,350 shares in the last quarter. Geode Capital Management LLC lifted its stake in BioMarin Pharmaceutical by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,260,050 shares of the biotechnology company's stock valued at $228,632,000 after buying an additional 60,692 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in BioMarin Pharmaceutical by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,423,508 shares of the biotechnology company's stock valued at $93,567,000 after buying an additional 21,880 shares in the last quarter. abrdn plc lifted its stake in BioMarin Pharmaceutical by 31.9% in the 4th quarter. abrdn plc now owns 695,802 shares of the biotechnology company's stock valued at $45,735,000 after buying an additional 168,121 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new position in BioMarin Pharmaceutical in the 3rd quarter valued at about $48,527,000. 98.71% of the stock is owned by hedge funds and other institutional investors.

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BioMarin Pharmaceutical Trading Up 0.4 %

BioMarin Pharmaceutical stock traded up $0.28 during trading on Thursday, hitting $71.60. The company had a trading volume of 1,355,711 shares, compared to its average volume of 1,772,836. BioMarin Pharmaceutical Inc. has a 1-year low of $60.63 and a 1-year high of $94.85. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The company's 50 day simple moving average is $66.44 and its 200-day simple moving average is $68.40. The stock has a market cap of $13.66 billion, a price-to-earnings ratio of 32.55, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33.

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, 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 during the quarter, compared to analysts' expectations of $711.05 million. As a group, analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,344 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $68.38, for a total value of $91,902.72. Following the completion of the transaction, the chief accounting officer now owns 13,105 shares of the company's stock, valued at $896,119.90. This trade represents a 9.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.85% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Piper Sandler raised 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. Royal Bank of Canada reissued a "sector perform" rating and issued a $70.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. StockNews.com raised shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research note on Tuesday. Scotiabank raised their target price on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 20th. Finally, Oppenheimer raised shares of BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 target price on the stock in a research note on Monday, February 24th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, BioMarin Pharmaceutical currently has a consensus rating of "Moderate Buy" and an average price target of $94.00.

BioMarin Pharmaceutical 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.