Natixis Trims Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Natixis lowered its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 86.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,315 shares of the biotechnology company’s stock after selling 247,093 shares during the period. Natixis’ holdings in BioMarin Pharmaceutical were worth $3,521,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Stratos Wealth Partners LTD. raised its stake in BioMarin Pharmaceutical by 2.1% during the fourth quarter. Stratos Wealth Partners LTD. now owns 5,709 shares of the biotechnology company’s stock worth $550,000 after purchasing an additional 115 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in shares of BioMarin Pharmaceutical by 1.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,668 shares of the biotechnology company’s stock valued at $932,000 after acquiring an additional 130 shares during the period. First Horizon Advisors Inc. raised its stake in shares of BioMarin Pharmaceutical by 33.3% in the 4th quarter. First Horizon Advisors Inc. now owns 576 shares of the biotechnology company’s stock valued at $56,000 after acquiring an additional 144 shares during the period. Atria Wealth Solutions Inc. raised its stake in shares of BioMarin Pharmaceutical by 1.6% in the 4th quarter. Atria Wealth Solutions Inc. now owns 9,729 shares of the biotechnology company’s stock valued at $938,000 after acquiring an additional 153 shares during the period. Finally, IFM Investors Pty Ltd raised its stake in shares of BioMarin Pharmaceutical by 0.4% in the 1st quarter. IFM Investors Pty Ltd now owns 38,328 shares of the biotechnology company’s stock valued at $3,348,000 after acquiring an additional 158 shares during the period. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Trading Down 0.7 %

Shares of NASDAQ:BMRN opened at $85.02 on Friday. The company has a market cap of $16.14 billion, a PE ratio of 79.99, a P/E/G ratio of 1.20 and a beta of 0.32. The company’s 50-day moving average price is $81.61 and its 200 day moving average price is $85.65. BioMarin Pharmaceutical Inc. has a fifty-two week low of $73.68 and a fifty-two week high of $99.56. The company has a quick ratio of 1.70, a current ratio of 2.74 and a debt-to-equity ratio of 0.12.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.12. The firm had revenue of $648.83 million for the quarter, compared to the consensus estimate of $649.75 million. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.34%. Sell-side analysts anticipate that BioMarin Pharmaceutical Inc. will post 2 earnings per share for the current year.

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 1,850 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $85.01, for a total transaction of $157,268.50. Following the sale, the executive vice president now directly owns 56,157 shares in the company, valued at approximately $4,773,906.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 1,850 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $85.01, for a total transaction of $157,268.50. Following the sale, the executive vice president now directly owns 56,157 shares in the company, valued at approximately $4,773,906.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brian Mueller sold 5,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $75.19, for a total transaction of $375,950.00. Following the sale, the chief financial officer now owns 72,159 shares in the company, valued at $5,425,635.21. The disclosure for this sale can be found here. Insiders have sold a total of 67,700 shares of company stock worth $5,209,352 in the last ninety days. 1.85% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BMRN shares. Canaccord Genuity Group reissued a “hold” rating and issued a $89.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday. Robert W. Baird lowered shares of BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $104.00 to $72.00 in a report on Friday, May 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $110.00 price target on shares of BioMarin Pharmaceutical in a report on Monday. Citigroup lowered their price target on shares of BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Finally, StockNews.com lowered shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a report on Monday. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and a consensus target price of $102.00.

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.