Mirae Asset Global Investments Co. Ltd. Sells 50,979 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Mirae Asset Global Investments Co. Ltd. cut its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 49.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,297 shares of the biotechnology company’s stock after selling 50,979 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in BioMarin Pharmaceutical were worth $4,946,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Stratos Wealth Partners LTD. grew its holdings in shares of BioMarin Pharmaceutical by 2.1% in the fourth quarter. Stratos Wealth Partners LTD. now owns 5,709 shares of the biotechnology company’s stock valued at $550,000 after acquiring an additional 115 shares in the last quarter. Allworth Financial LP grew its holdings in BioMarin Pharmaceutical by 54.9% during the fourth quarter. Allworth Financial LP now owns 604 shares of the biotechnology company’s stock valued at $58,000 after purchasing an additional 214 shares during the period. International Assets Investment Management LLC bought a new position in BioMarin Pharmaceutical during the fourth quarter valued at $3,598,000. SteelPeak Wealth LLC bought a new position in BioMarin Pharmaceutical during the fourth quarter valued at $217,000. Finally, Arizona State Retirement System grew its holdings in BioMarin Pharmaceutical by 1.0% during the fourth quarter. Arizona State Retirement System now owns 51,718 shares of the biotechnology company’s stock valued at $4,987,000 after purchasing an additional 510 shares during the period. 98.71% of the stock is owned by institutional investors.

BioMarin Pharmaceutical Trading Down 0.8 %

Shares of BMRN stock opened at $91.51 on Tuesday. The business’s fifty day moving average is $87.53 and its 200 day moving average is $89.08. BioMarin Pharmaceutical Inc. has a 52-week low of $76.02 and a 52-week high of $100.38. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.57 and a current ratio of 2.51. The company has a market capitalization of $17.27 billion, a PE ratio of 103.99, a price-to-earnings-growth ratio of 1.76 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. The business had revenue of $646.21 million for the quarter, compared to the consensus estimate of $639.53 million. BioMarin Pharmaceutical had a return on equity of 5.01% and a net margin of 6.93%. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter last year, the business posted $0.11 earnings per share. On average, equities research analysts anticipate that BioMarin Pharmaceutical Inc. will post 1.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BMRN shares. Canaccord Genuity Group reissued a “hold” rating and set a $91.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 29th. Cantor Fitzgerald reissued an “overweight” rating and set a $100.00 price objective on shares of BioMarin Pharmaceutical in a report on Friday, February 23rd. Piper Sandler reduced their price objective on BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating for the company in a report on Friday, February 23rd. Stifel Nicolaus reissued a “buy” rating and set a $101.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, December 21st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $100.00 price target on shares of BioMarin Pharmaceutical in a report on Friday, February 23rd. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $107.61.

Insider Transactions at BioMarin Pharmaceutical

In other news, insider Henry J. Fuchs sold 35,341 shares of BioMarin Pharmaceutical stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $85.18, for a total value of $3,010,346.38. Following the transaction, the insider now owns 212,117 shares in the company, valued at $18,068,126.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Jean Jacques Bienaime sold 15,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $88.28, for a total value of $1,324,200.00. Following the sale, the director now directly owns 419,602 shares of the company’s stock, valued at $37,042,464.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Henry J. Fuchs sold 35,341 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $85.18, for a total value of $3,010,346.38. Following the completion of the sale, the insider now directly owns 212,117 shares in the company, valued at $18,068,126.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,229 shares of company stock worth $9,062,967. Company insiders own 1.84% of the company’s stock.

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.