Lbp Am Sa Cuts Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Lbp Am Sa trimmed its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 67.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,449 shares of the biotechnology company’s stock after selling 11,237 shares during the quarter. Lbp Am Sa’s holdings in BioMarin Pharmaceutical were worth $358,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of BMRN. Janney Montgomery Scott LLC lifted its stake in shares of BioMarin Pharmaceutical by 102.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 11,700 shares of the biotechnology company’s stock valued at $822,000 after buying an additional 5,911 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of BioMarin Pharmaceutical by 4.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 456,097 shares of the biotechnology company’s stock worth $32,059,000 after acquiring an additional 20,631 shares in the last quarter. Metis Global Partners LLC boosted its holdings in shares of BioMarin Pharmaceutical by 9.7% in the third quarter. Metis Global Partners LLC now owns 5,450 shares of the biotechnology company’s stock worth $383,000 after acquiring an additional 480 shares during the period. CIBC Asset Management Inc grew its position in shares of BioMarin Pharmaceutical by 5.6% in the third quarter. CIBC Asset Management Inc now owns 6,731 shares of the biotechnology company’s stock valued at $473,000 after purchasing an additional 359 shares in the last quarter. Finally, AM Squared Ltd raised its stake in shares of BioMarin Pharmaceutical by 75.0% during the 3rd quarter. AM Squared Ltd now owns 1,400 shares of the biotechnology company’s stock valued at $98,000 after purchasing an additional 600 shares during the period. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on BMRN. 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 research note on Monday, February 24th. Wedbush reaffirmed an “outperform” rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. UBS Group increased 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $94.00.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock opened at $69.44 on Monday. The firm has a fifty day simple moving average of $66.22 and a two-hundred day simple moving average of $68.65. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a twelve month low of $60.63 and a twelve month high of $94.85. The company has a market capitalization of $13.25 billion, a PE ratio of 31.56, a P/E/G ratio of 0.61 and a beta of 0.33.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.18. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. The company had revenue of $747.31 million during the quarter, compared to analyst estimates of $711.05 million. Research analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

Insider Activity

In related news, CAO Erin Burkhart sold 1,344 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $68.38, for a total transaction of $91,902.72. Following the completion of the sale, the chief accounting officer now directly owns 13,105 shares in the company, valued at $896,119.90. This represents a 9.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.85% of the company’s stock.

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.