BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Stock Position Lessened by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 13.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 880,453 shares of the biotechnology company’s stock after selling 132,587 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.46% of BioMarin Pharmaceutical worth $61,887,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in shares of BioMarin Pharmaceutical in the second quarter valued at $25,000. nVerses Capital LLC acquired a new stake in shares of BioMarin Pharmaceutical during the third quarter worth $28,000. BOKF NA purchased a new stake in shares of BioMarin Pharmaceutical during the second quarter valued at $31,000. Quent Capital LLC boosted its position in shares of BioMarin Pharmaceutical by 58.9% in the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 145 shares during the period. Finally, Itau Unibanco Holding S.A. purchased a new position in BioMarin Pharmaceutical in the 2nd quarter worth about $47,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 5,278 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total transaction of $350,300.86. Following the completion of the transaction, the executive vice president now directly owns 68,909 shares in the company, valued at $4,573,490.33. The trade was a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.85% of the company’s stock.

Wall Street Analysts Forecast Growth

BMRN has been the subject of several recent analyst reports. Piper Sandler raised their target price on shares of BioMarin Pharmaceutical from $107.00 to $122.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $80.00 price objective on shares of BioMarin Pharmaceutical in a research note on Wednesday, October 30th. UBS Group increased their target price on BioMarin Pharmaceutical from $104.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald decreased their target price on BioMarin Pharmaceutical from $110.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group dropped their price target on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.20.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ BMRN opened at $65.04 on Tuesday. The business’s 50-day simple moving average is $67.63 and its 200-day simple moving average is $77.80. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27. BioMarin Pharmaceutical Inc. has a 52 week low of $61.15 and a 52 week high of $99.56. The firm has a market cap of $12.40 billion, a price-to-earnings ratio of 38.95, a P/E/G ratio of 0.65 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The firm had revenue of $746.00 million during the quarter, compared to the consensus estimate of $703.37 million. During the same period in the prior year, the business earned $0.26 EPS. The company’s revenue for the quarter was up 28.4% compared to the same quarter last year. As a group, equities research analysts expect that BioMarin Pharmaceutical Inc. will post 2.49 earnings per share for the current fiscal year.

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.