Primecap Management Co. CA Decreases Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Primecap Management Co. CA cut its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 3.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,189,171 shares of the biotechnology company’s stock after selling 678,264 shares during the quarter. Primecap Management Co. CA owned 9.54% of BioMarin Pharmaceutical worth $1,195,574,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in BMRN. TD Private Client Wealth LLC raised its stake in shares of BioMarin Pharmaceutical by 57.4% during the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 186 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of BioMarin Pharmaceutical in the fourth quarter worth approximately $36,000. Meeder Asset Management Inc. grew its holdings in shares of BioMarin Pharmaceutical by 920.8% in the third quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 663 shares during the last quarter. True Wealth Design LLC grew its holdings in shares of BioMarin Pharmaceutical by 13,400.0% in the third quarter. True Wealth Design LLC now owns 810 shares of the biotechnology company’s stock worth $57,000 after purchasing an additional 804 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of BioMarin Pharmaceutical by 111.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company’s stock worth $58,000 after purchasing an additional 466 shares during the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BMRN. Scotiabank raised their target price on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, February 20th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Oppenheimer upgraded 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 report on Monday, February 24th. Citigroup lifted their price target on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Finally, Wedbush reiterated an “outperform” rating and issued a $94.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $94.00.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,344 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $68.38, for a total value of $91,902.72. Following the completion of the transaction, the chief accounting officer now owns 13,105 shares of the company’s stock, valued at approximately $896,119.90. The trade was a 9.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.85% of the stock is owned by insiders.

BioMarin Pharmaceutical Price Performance

BMRN opened at $71.55 on Tuesday. The stock has a 50-day moving average price of $66.31 and a 200-day moving average price of $68.51. 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 firm has a market cap of $13.65 billion, a PE ratio of 32.52, a P/E/G ratio of 0.61 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a 1 year low of $60.63 and a 1 year high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.18. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. The business had revenue of $747.31 million during the quarter, compared to analyst estimates of $711.05 million. Sell-side analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal 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.