Alliancebernstein L.P. Sells 22,055 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Alliancebernstein L.P. lowered its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 7.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 257,385 shares of the biotechnology company’s stock after selling 22,055 shares during the period. Alliancebernstein L.P. owned about 0.14% of BioMarin Pharmaceutical worth $16,918,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Edmond DE Rothschild Holding S.A. grew its position in shares of BioMarin Pharmaceutical by 36.4% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 563,530 shares of the biotechnology company’s stock worth $37,041,000 after purchasing an additional 150,303 shares in the last quarter. AIA Group Ltd boosted its stake in BioMarin Pharmaceutical by 7.9% in the 4th quarter. AIA Group Ltd now owns 3,705 shares of the biotechnology company’s stock worth $244,000 after purchasing an additional 270 shares during the period. CIBC Private Wealth Group LLC grew its holdings in BioMarin Pharmaceutical by 64.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company’s stock valued at $41,000 after buying an additional 233 shares in the last quarter. Allianz SE purchased a new stake in BioMarin Pharmaceutical during the 4th quarter valued at approximately $3,065,000. Finally, Allstate Corp purchased a new position in shares of BioMarin Pharmaceutical in the fourth quarter worth $368,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Insider Buying and Selling

In other news, CAO Erin Burkhart sold 1,295 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total transaction of $92,618.40. Following the transaction, the chief accounting officer now owns 16,955 shares of the company’s stock, valued at approximately $1,212,621.60. This represents a 7.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.85% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Piper Sandler raised their target price on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Bank of America lifted their target price on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating 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 research note on Thursday, February 20th. Wedbush reaffirmed an “outperform” rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Finally, StockNews.com lowered shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 1st. Seven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and a consensus target price of $94.00.

BioMarin Pharmaceutical Stock Down 5.5 %

Shares of BMRN opened at $55.89 on Wednesday. The firm has a fifty day moving average price of $67.60 and a 200-day moving average price of $66.92. 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 has a market capitalization of $10.66 billion, a P/E ratio of 25.40, a P/E/G ratio of 0.61 and a beta of 0.30. BioMarin Pharmaceutical Inc. has a 12-month low of $55.55 and a 12-month high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.18. The company had revenue of $747.31 million during 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%. Equities research analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

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.