BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC reduced its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 148,798 shares of the biotechnology company’s stock after selling 1,941 shares during the period. Motley Fool Asset Management LLC’s holdings in BioMarin Pharmaceutical were worth $10,431,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BMRN. AGF Management Ltd. purchased a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter worth about $2,563,000. Susquehanna Fundamental Investments LLC purchased a new position in BioMarin Pharmaceutical in the 2nd quarter worth approximately $5,627,000. Teachers Retirement System of The State of Kentucky lifted its stake in BioMarin Pharmaceutical by 17.4% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 194,207 shares of the biotechnology company’s stock worth $15,990,000 after purchasing an additional 28,837 shares in the last quarter. E Fund Management Co. Ltd. increased its holdings in shares of BioMarin Pharmaceutical by 167.4% during the 2nd quarter. E Fund Management Co. Ltd. now owns 13,480 shares of the biotechnology company’s stock worth $1,110,000 after buying an additional 8,438 shares during the last quarter. Finally, EULAV Asset Management increased its holdings in shares of BioMarin Pharmaceutical by 12.9% during the 3rd quarter. EULAV Asset Management now owns 131,000 shares of the biotechnology company’s stock worth $9,208,000 after buying an additional 15,000 shares during the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BMRN has been the subject of a number of recent analyst reports. Truist Financial cut their price target on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Evercore ISI dropped their target price on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Citigroup dropped their target price on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Raymond James reiterated an “outperform” rating and issued a $79.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, October 10th. Finally, Wells Fargo & Company decreased their price target on shares of BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating for the company in a research report on Tuesday, September 17th. 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $94.20.

BioMarin Pharmaceutical Trading Down 2.8 %

Shares of BMRN stock opened at $63.19 on Wednesday. BioMarin Pharmaceutical Inc. has a 1 year low of $61.15 and a 1 year high of $99.56. The firm’s fifty day simple moving average is $67.51 and its 200 day simple moving average is $77.70. The firm has a market capitalization of $12.04 billion, a P/E ratio of 37.84, a price-to-earnings-growth ratio of 0.64 and a beta of 0.29. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11.

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

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 5,278 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total value of $350,300.86. Following the sale, the executive vice president now owns 68,909 shares in the company, valued at approximately $4,573,490.33. The trade was a 7.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.85% of the company’s stock.

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.