Royal London Asset Management Ltd. Sells 486 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Royal London Asset Management Ltd. reduced its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 0.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 76,859 shares of the biotechnology company’s stock after selling 486 shares during the quarter. Royal London Asset Management Ltd.’s holdings in BioMarin Pharmaceutical were worth $5,052,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Merit Financial Group LLC acquired a new stake in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $317,000. Assenagon Asset Management S.A. grew its holdings in BioMarin Pharmaceutical by 461.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company’s stock worth $40,205,000 after acquiring an additional 502,695 shares during the period. Wedmont Private Capital bought a new stake in shares of BioMarin Pharmaceutical during the 4th quarter valued at $430,000. Swedbank AB lifted its stake in shares of BioMarin Pharmaceutical by 11.2% in the 4th quarter. Swedbank AB now owns 432,122 shares of the biotechnology company’s stock valued at $28,403,000 after purchasing an additional 43,593 shares during the period. Finally, Tidal Investments LLC boosted its position in shares of BioMarin Pharmaceutical by 150.4% in the 3rd quarter. Tidal Investments LLC now owns 30,467 shares of the biotechnology company’s stock worth $2,142,000 after purchasing an additional 18,300 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $71.24 on Monday. The stock has a market capitalization of $13.59 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 0.61 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a 12 month low of $60.63 and a 12 month high of $94.85. The firm has a fifty day simple moving average of $66.58 and a 200 day simple moving average of $67.96. 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 data on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.18. The company had revenue of $747.31 million during the quarter, compared to the consensus estimate of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. Research analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.

Insider Activity at BioMarin Pharmaceutical

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Citigroup upped their price objective on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Scotiabank upped their price target on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, February 20th. Bank of America lifted their price objective on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Wedbush reaffirmed an “outperform” rating and issued a $94.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Finally, UBS Group lifted their price target on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus 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.