BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lessened its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 26.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 154,835 shares of the biotechnology company’s stock after selling 55,073 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in BioMarin Pharmaceutical were worth $10,177,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of BioMarin Pharmaceutical by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 19,372,185 shares of the biotechnology company’s stock valued at $1,273,334,000 after acquiring an additional 93,531 shares in the last quarter. Geode Capital Management LLC raised 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 purchasing an additional 60,692 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings 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 purchasing an additional 21,880 shares in the last quarter. abrdn plc boosted its stake in BioMarin Pharmaceutical by 31.9% during the 4th quarter. abrdn plc now owns 695,802 shares of the biotechnology company’s stock worth $45,735,000 after purchasing an additional 168,121 shares during the last quarter. Finally, Erste Asset Management GmbH purchased a new stake in shares of BioMarin Pharmaceutical during the third quarter worth $48,527,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Price Performance

BMRN opened at $71.44 on Friday. The stock’s 50-day moving average price is $67.46 and its 200 day moving average price is $67.63. BioMarin Pharmaceutical Inc. has a 12-month low of $60.63 and a 12-month high of $94.85. The firm has a market cap of $13.63 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 0.61 and a beta of 0.33. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.18. The business had revenue of $747.31 million for the quarter, compared to analysts’ expectations of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. As a group, sell-side analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,344 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $68.38, for a total value of $91,902.72. Following the sale, the chief accounting officer now directly owns 13,105 shares in the company, valued at approximately $896,119.90. This trade represents a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.85% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BMRN shares. Wedbush reissued an “outperform” rating and issued a $94.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. UBS Group raised their target price on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Bank of America upped their price target on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Citigroup lifted their price objective on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Finally, Piper Sandler upped their target price on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.