The Manufacturers Life Insurance Company Sells 5,621 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

The Manufacturers Life Insurance Company cut its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 3.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 154,296 shares of the biotechnology company’s stock after selling 5,621 shares during the period. The Manufacturers Life Insurance Company’s holdings in BioMarin Pharmaceutical were worth $10,142,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in BioMarin Pharmaceutical by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 19,372,185 shares of the biotechnology company’s stock valued at $1,273,334,000 after purchasing an additional 93,531 shares in the last quarter. Dodge & Cox grew its holdings in shares of BioMarin Pharmaceutical by 6.1% in the 4th quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company’s stock valued at $969,270,000 after buying an additional 847,917 shares during the period. Capital Research Global Investors increased its position in shares of BioMarin Pharmaceutical by 23.8% in the 4th quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company’s stock valued at $853,944,000 after buying an additional 2,496,817 shares in the last quarter. Norges Bank bought a new position in BioMarin Pharmaceutical during the fourth quarter worth about $234,645,000. Finally, Geode Capital Management LLC grew its stake in BioMarin Pharmaceutical by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 3,288,778 shares of the biotechnology company’s stock valued at $215,784,000 after acquiring an additional 28,728 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,295 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total value of $92,618.40. Following the transaction, the chief accounting officer now directly owns 16,955 shares of the company’s stock, valued at $1,212,621.60. This represents a 7.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

BMRN has been the topic of a number of research analyst reports. Scotiabank raised their price target on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 20th. Oppenheimer raised shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price target on the stock in a research note on Monday, February 24th. Wedbush reissued an “outperform” rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. UBS Group boosted their price objective on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.95.

BioMarin Pharmaceutical Stock Down 1.1 %

BioMarin Pharmaceutical stock opened at $62.03 on Monday. 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 company’s 50-day moving average is $65.84 and its 200-day moving average is $65.71. The firm has a market capitalization of $11.84 billion, a PE ratio of 28.20, a P/E/G ratio of 0.61 and a beta of 0.27. BioMarin Pharmaceutical Inc. has a fifty-two week low of $52.93 and a fifty-two week 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. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. The firm had revenue of $747.31 million for the quarter, compared to analyst estimates of $711.05 million. Sell-side analysts anticipate that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current 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.