BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 2.2% in the fourth quarter, Holdings Channel reports. The fund owned 100,673 shares of the biotechnology company’s stock after selling 2,221 shares during the period. Mutual of America Capital Management LLC’s holdings in BioMarin Pharmaceutical were worth $6,617,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BMRN. Merit Financial Group LLC acquired a new stake in shares of BioMarin Pharmaceutical during the 4th quarter worth about $317,000. Assenagon Asset Management S.A. increased its stake in BioMarin Pharmaceutical by 461.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company’s stock valued at $40,205,000 after purchasing an additional 502,695 shares during the last quarter. Wedmont Private Capital acquired a new stake in BioMarin Pharmaceutical during the fourth quarter worth approximately $430,000. Swedbank AB raised its holdings in BioMarin Pharmaceutical by 11.2% during the fourth quarter. Swedbank AB now owns 432,122 shares of the biotechnology company’s stock worth $28,403,000 after purchasing an additional 43,593 shares in the last quarter. Finally, EULAV Asset Management lifted its position 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. Institutional investors and hedge funds own 98.71% of the company’s stock.

Insider Buying and Selling

In other news, CAO Erin Burkhart sold 1,344 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $68.38, for a total transaction of $91,902.72. Following the completion of the sale, the chief accounting officer now directly owns 13,105 shares in the company, valued at approximately $896,119.90. This trade represents a 9.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.85% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wedbush reaffirmed an “outperform” rating and issued a $94.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Scotiabank lifted their target price on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 20th. Royal Bank of Canada reissued 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 raised their price target on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, Wolfe Research assumed coverage on BioMarin Pharmaceutical in a research note on Friday, November 15th. They issued an “outperform” rating and a $95.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.00.

BioMarin Pharmaceutical Stock Down 0.2 %

BioMarin Pharmaceutical stock opened at $71.02 on Tuesday. The stock’s 50 day moving average price is $65.40 and its 200 day moving average price is $69.93. BioMarin Pharmaceutical Inc. has a 1-year low of $60.63 and a 1-year high of $94.85. The company has a market cap of $13.55 billion, a PE ratio of 32.28, a price-to-earnings-growth ratio of 0.61 and a beta of 0.28. 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 (NASDAQ:BMRN) last issued its 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 company had revenue of $747.31 million for the quarter, compared to analyst estimates of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. On average, sell-side analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 EPS 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.