BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System cut its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 6.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,081 shares of the biotechnology company’s stock after selling 706 shares during the quarter. Maryland State Retirement & Pension System’s holdings in BioMarin Pharmaceutical were worth $663,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC increased its position in BioMarin Pharmaceutical by 1.9% during the third quarter. Geode Capital Management LLC now owns 3,260,050 shares of the biotechnology company’s stock worth $228,632,000 after purchasing an additional 60,692 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of 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 during the period. abrdn plc increased its holdings in shares of 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 buying an additional 168,121 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter valued at approximately $48,527,000. Finally, Assenagon Asset Management S.A. lifted its holdings in BioMarin Pharmaceutical by 461.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company’s stock valued at $40,205,000 after acquiring an additional 502,695 shares during the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Citigroup upped their target price on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Bank of America lifted their price target on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. UBS Group upped their price objective on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Seven research 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $94.00.

Insider Transactions at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,295 shares of BioMarin Pharmaceutical stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total transaction of $92,618.40. Following the sale, the chief accounting officer now directly owns 16,955 shares in the company, valued at $1,212,621.60. This trade represents a 7.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN opened at $71.99 on Tuesday. BioMarin Pharmaceutical Inc. has a 12 month low of $60.63 and a 12 month high of $94.85. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. The firm has a market capitalization of $13.73 billion, a PE ratio of 32.72, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33. The business’s fifty day moving average price is $66.68 and its 200 day moving average price is $67.87.

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

About BioMarin Pharmaceutical

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.