Trexquant Investment LP Decreases Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Trexquant Investment LP reduced its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 29.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 219,040 shares of the biotechnology company's stock after selling 91,662 shares during the period. Trexquant Investment LP owned 0.11% of BioMarin Pharmaceutical worth $14,397,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in BMRN. Norges Bank purchased a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth approximately $234,645,000. Assenagon Asset Management S.A. grew its holdings in shares of BioMarin Pharmaceutical by 461.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company's stock worth $40,205,000 after buying an additional 502,695 shares in the last quarter. Candriam S.C.A. grew its holdings in shares of BioMarin Pharmaceutical by 77.2% during the fourth quarter. Candriam S.C.A. now owns 580,222 shares of the biotechnology company's stock worth $38,138,000 after buying an additional 252,820 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of BioMarin Pharmaceutical by 206.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,496 shares of the biotechnology company's stock valued at $23,432,000 after buying an additional 240,239 shares during the last quarter. Finally, Tredje AP fonden lifted its stake in shares of BioMarin Pharmaceutical by 662.6% in the fourth quarter. Tredje AP fonden now owns 223,664 shares of the biotechnology company's stock worth $14,701,000 after buying an additional 194,334 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company's stock.

Insiders Place Their Bets

In other news, CAO Erin Burkhart sold 1,295 shares of BioMarin Pharmaceutical stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total value of $92,618.40. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.85% of the company's stock.

BioMarin Pharmaceutical Trading Down 10.7 %

BMRN traded down $7.22 during mid-day trading on Friday, hitting $60.26. 3,545,266 shares of the stock were exchanged, compared to its average volume of 1,861,965. The company has a market cap of $11.50 billion, a PE ratio of 27.39, a PEG 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. The firm's fifty day moving average is $67.95 and its two-hundred day moving average is $67.22. BioMarin Pharmaceutical Inc. has a 1-year low of $59.99 and a 1-year high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $747.31 million during the quarter, compared to analyst estimates of $711.05 million. Equities analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Royal Bank of Canada reiterated a "sector perform" rating and issued a $70.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Citigroup increased their price target on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Oppenheimer upgraded BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 target price for the company in a report on Monday, February 24th. StockNews.com lowered BioMarin Pharmaceutical from a "strong-buy" rating to a "buy" rating in a report on Tuesday, April 1st. Finally, UBS Group upped their price objective on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to MarketBeat, BioMarin Pharmaceutical has a consensus rating of "Moderate Buy" and a consensus price target of $94.00.

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.