BI Asset Management Fondsmaeglerselskab A S Sells 2,820 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

BI Asset Management Fondsmaeglerselskab A S reduced its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 33.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,723 shares of the biotechnology company’s stock after selling 2,820 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in BioMarin Pharmaceutical were worth $500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of BMRN. Hudson Bay Capital Management LP grew its position in shares of BioMarin Pharmaceutical by 147.0% during the 3rd quarter. Hudson Bay Capital Management LP now owns 130,910 shares of the biotechnology company’s stock valued at $11,583,000 after acquiring an additional 77,910 shares during the period. Teachers Retirement System of The State of Kentucky increased its position in BioMarin Pharmaceutical by 24.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 177,695 shares of the biotechnology company’s stock worth $15,722,000 after buying an additional 35,374 shares in the last quarter. First Hawaiian Bank raised its stake in shares of BioMarin Pharmaceutical by 2.8% in the fourth quarter. First Hawaiian Bank now owns 15,932 shares of the biotechnology company’s stock worth $1,536,000 after buying an additional 432 shares during the period. Nordea Investment Management AB lifted its position in shares of BioMarin Pharmaceutical by 4.9% during the 4th quarter. Nordea Investment Management AB now owns 11,594 shares of the biotechnology company’s stock valued at $1,121,000 after buying an additional 544 shares in the last quarter. Finally, Advisor Resource Council purchased a new position in shares of BioMarin Pharmaceutical during the 4th quarter valued at about $234,000. Institutional investors own 98.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on BMRN. Morgan Stanley decreased their target price on shares of BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating on the stock in a research note on Friday, April 26th. Baird R W cut shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 17th. Robert W. Baird lowered BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $104.00 to $72.00 in a research note on Friday, May 17th. Canaccord Genuity Group lowered their price objective on BioMarin Pharmaceutical from $91.00 to $89.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. Finally, Citigroup cut their target price on BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $106.37.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $83.91 on Friday. The firm has a market capitalization of $15.93 billion, a PE ratio of 78.42, a price-to-earnings-growth ratio of 1.18 and a beta of 0.32. BioMarin Pharmaceutical Inc. has a 12-month low of $73.68 and a 12-month high of $99.56. The firm has a 50-day moving average price of $80.84 and a 200-day moving average price of $86.49. The company has a current ratio of 2.74, a quick ratio of 1.70 and a debt-to-equity ratio of 0.12.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Wednesday, April 24th. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.12. The business had revenue of $648.83 million during the quarter, compared to analyst estimates of $649.75 million. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. As a group, equities research analysts forecast that BioMarin Pharmaceutical Inc. will post 1.99 EPS for the current year.

Insiders Place Their Bets

In other news, EVP George Eric Davis sold 40,850 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $74.51, for a total transaction of $3,043,733.50. Following the transaction, the executive vice president now directly owns 56,157 shares in the company, valued at $4,184,258.07. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 40,850 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $74.51, for a total transaction of $3,043,733.50. Following the completion of the sale, the executive vice president now owns 56,157 shares in the company, valued at $4,184,258.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jean Jacques Bienaime sold 20,000 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $81.62, for a total value of $1,632,400.00. Following the sale, the director now directly owns 474,994 shares in the company, valued at approximately $38,769,010.28. The disclosure for this sale can be found here. Insiders have sold a total of 67,700 shares of company stock worth $5,209,352 in the last three months. Corporate insiders own 1.85% of the company’s stock.

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.