BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P cut its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 12.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,878 shares of the biotechnology company’s stock after selling 7,060 shares during the period. Martingale Asset Management L P’s holdings in BioMarin Pharmaceutical were worth $3,576,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. FORA Capital LLC raised its holdings in BioMarin Pharmaceutical by 199.8% in the third quarter. FORA Capital LLC now owns 25,399 shares of the biotechnology company’s stock valued at $1,785,000 after acquiring an additional 16,926 shares in the last quarter. Glenmede Trust Co. NA acquired a new stake in BioMarin Pharmaceutical in the third quarter valued at $254,000. Bridgewater Associates LP raised its holdings in BioMarin Pharmaceutical by 306.8% in the third quarter. Bridgewater Associates LP now owns 142,314 shares of the biotechnology company’s stock valued at $10,003,000 after acquiring an additional 107,330 shares in the last quarter. Quantbot Technologies LP acquired a new stake in BioMarin Pharmaceutical in the third quarter valued at $171,000. Finally, FMR LLC raised its holdings in BioMarin Pharmaceutical by 21.7% in the third quarter. FMR LLC now owns 206,538 shares of the biotechnology company’s stock valued at $14,518,000 after acquiring an additional 36,877 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 5,278 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total transaction of $350,300.86. Following the completion of the transaction, the executive vice president now owns 68,909 shares in the company, valued at approximately $4,573,490.33. This trade represents a 7.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.85% of the stock is owned by corporate insiders.

BioMarin Pharmaceutical Stock Up 0.9 %

BioMarin Pharmaceutical stock opened at $66.03 on Friday. The stock has a market cap of $12.58 billion, a price-to-earnings ratio of 39.54, a PEG ratio of 0.64 and a beta of 0.31. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The company’s 50-day moving average price is $67.72 and its two-hundred day moving average price is $77.91. BioMarin Pharmaceutical Inc. has a 52 week low of $61.15 and a 52 week high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.23). The company had revenue of $746.00 million for the quarter, compared to analyst estimates of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The firm’s quarterly revenue was up 28.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.26 EPS. On average, analysts expect that BioMarin Pharmaceutical Inc. will post 2.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BMRN has been the topic of several recent analyst reports. Truist Financial cut their price target on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Wedbush upgraded shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research note on Monday, November 4th. Wells Fargo & Company lowered their target price on shares of BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, September 17th. Sanford C. Bernstein lowered their target price on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, September 17th. Finally, Scotiabank lowered their target price on shares of BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating for the company in a research note on Tuesday, September 17th. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.20.

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.