Knott David M Jr Lowers Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Knott David M Jr lessened its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 82.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,800 shares of the biotechnology company’s stock after selling 28,200 shares during the period. Knott David M Jr’s holdings in BioMarin Pharmaceutical were worth $381,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BMRN. Merit Financial Group LLC purchased a new stake in BioMarin Pharmaceutical during the fourth quarter worth $317,000. Assenagon Asset Management S.A. increased its holdings in BioMarin Pharmaceutical by 461.3% in 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 in the last quarter. Wedmont Private Capital purchased a new position in BioMarin Pharmaceutical during the fourth quarter valued at $430,000. Swedbank AB grew its position in shares of BioMarin Pharmaceutical by 11.2% in the fourth 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 grew its position in shares of BioMarin Pharmaceutical by 150.4% in the third quarter. Tidal Investments LLC now owns 30,467 shares of the biotechnology company’s stock valued at $2,142,000 after purchasing an additional 18,300 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,295 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 16,955 shares in the company, valued at approximately $1,212,621.60. This represents a 7.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.85% of the stock is owned by corporate insiders.

BioMarin Pharmaceutical Stock Down 1.0 %

Shares of NASDAQ:BMRN opened at $70.69 on Tuesday. The firm’s 50-day moving average is $67.64 and its two-hundred day moving average is $67.42. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. BioMarin Pharmaceutical Inc. has a 1 year low of $60.63 and a 1 year high of $94.85. The firm has a market capitalization of $13.49 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.54 by $0.18. The business 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%. Analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Scotiabank raised their price target on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, February 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. UBS Group increased their price objective on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Bank of America lifted their target price 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. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Seven equities 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $94.00.

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.