BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. lowered its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 15.1% during the fourth quarter, Holdings Channel reports. The fund owned 412,299 shares of the biotechnology company’s stock after selling 73,310 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in BioMarin Pharmaceutical were worth $27,100,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Merit Financial Group LLC purchased a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth $317,000. Assenagon Asset Management S.A. lifted its position in BioMarin Pharmaceutical by 461.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company’s stock worth $40,205,000 after buying an additional 502,695 shares during the period. Wedmont Private Capital acquired a new stake in BioMarin Pharmaceutical in the 4th quarter worth about $430,000. Swedbank AB grew its holdings in 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 buying an additional 43,593 shares during the period. Finally, Tidal Investments LLC increased its stake in shares of BioMarin Pharmaceutical by 150.4% during the 3rd quarter. Tidal Investments LLC now owns 30,467 shares of the biotechnology company’s stock valued at $2,142,000 after acquiring an additional 18,300 shares during the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Analyst Ratings Changes

BMRN has been the subject of a number of recent analyst reports. Wedbush restated an “outperform” rating and issued a $94.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Bank of America boosted their price target on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Piper Sandler raised their price objective on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Seven 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $94.00.

Insider Activity at BioMarin Pharmaceutical

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

BioMarin Pharmaceutical Trading Down 1.9 %

NASDAQ:BMRN opened at $71.44 on Friday. The stock has a market cap of $13.63 billion, a price-to-earnings ratio of 32.47, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a one year low of $60.63 and a one year high of $94.85. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33. The business’s 50-day simple moving average is $67.46 and its 200 day simple moving average is $67.63.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its 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. The company had revenue of $747.31 million for the quarter, compared to analyst estimates of $711.05 million. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. As a group, 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.