BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Cibc World Markets Corp

Cibc World Markets Corp cut its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 22.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 8,615 shares of the biotechnology company’s stock after selling 2,450 shares during the period. Cibc World Markets Corp’s holdings in BioMarin Pharmaceutical were worth $566,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Natixis Advisors LLC acquired a new stake in BioMarin Pharmaceutical in the fourth quarter valued at $1,297,000. PGGM Investments raised its stake in BioMarin Pharmaceutical by 12.0% in the fourth quarter. PGGM Investments now owns 243,682 shares of the biotechnology company’s stock valued at $16,017,000 after buying an additional 26,101 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in BioMarin Pharmaceutical by 29.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 77,598 shares of the biotechnology company’s stock valued at $5,081,000 after buying an additional 17,729 shares in the last quarter. Tredje AP fonden raised its stake in BioMarin Pharmaceutical by 662.6% in the fourth quarter. Tredje AP fonden now owns 223,664 shares of the biotechnology company’s stock valued at $14,701,000 after buying an additional 194,334 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in BioMarin Pharmaceutical by 206.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,496 shares of the biotechnology company’s stock valued at $23,432,000 after buying an additional 240,239 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Erin Burkhart sold 1,295 shares of BioMarin Pharmaceutical stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 16,955 shares in the company, valued at approximately $1,212,621.60. This trade represents a 7.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Price Performance

Shares of BMRN opened at $71.24 on Friday. BioMarin Pharmaceutical Inc. has a twelve month low of $60.63 and a twelve month high of $94.85. The stock’s 50 day moving average is $66.58 and its two-hundred day moving average is $68.12. The firm has a market capitalization of $13.59 billion, a PE ratio of 32.38, a P/E/G 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 posted its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.18. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. The company had revenue of $747.31 million during the quarter, compared to the consensus estimate of $711.05 million. Research analysts anticipate that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Wall Street Analyst Weigh In

BMRN has been the topic of a number of analyst reports. Bank of America raised their price target on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. StockNews.com raised BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Finally, Wedbush reaffirmed an “outperform” rating and set a $94.00 price objective 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $94.00.

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.