Prudential PLC Has $1.76 Million Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Prudential PLC trimmed its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRNGet Rating) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,879 shares of the biotechnology company’s stock after selling 691 shares during the quarter. Prudential PLC’s holdings in BioMarin Pharmaceutical were worth $1,756,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of BMRN. Camber Capital Management LP acquired a new stake in BioMarin Pharmaceutical in the third quarter worth $88,884,000. Jennison Associates LLC acquired a new stake in BioMarin Pharmaceutical in the fourth quarter worth $48,817,000. Fort Washington Investment Advisors Inc. OH grew its holdings in BioMarin Pharmaceutical by 93.2% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 1,143,631 shares of the biotechnology company’s stock worth $101,040,000 after purchasing an additional 551,729 shares during the period. Point72 Asset Management L.P. grew its holdings in BioMarin Pharmaceutical by 116.0% in the third quarter. Point72 Asset Management L.P. now owns 791,789 shares of the biotechnology company’s stock worth $61,197,000 after purchasing an additional 425,289 shares during the period. Finally, Rockefeller Capital Management L.P. grew its holdings in BioMarin Pharmaceutical by 41.6% in the third quarter. Rockefeller Capital Management L.P. now owns 1,151,859 shares of the biotechnology company’s stock worth $89,025,000 after purchasing an additional 338,406 shares during the period. Institutional investors and hedge funds own 95.45% of the company’s stock.

A number of research analysts have weighed in on the stock. Morgan Stanley raised shares of BioMarin Pharmaceutical from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $96.00 to $113.00 in a research note on Monday, April 25th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $100.00 price objective on shares of BioMarin Pharmaceutical in a research note on Wednesday, May 4th. StockNews.com lowered shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Saturday, May 14th. Piper Sandler raised their price objective on shares of BioMarin Pharmaceutical from $121.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, February 24th. Finally, Wedbush dropped their price objective on shares of BioMarin Pharmaceutical from $155.00 to $147.00 in a research note on Thursday, April 28th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, BioMarin Pharmaceutical has a consensus rating of “Buy” and an average target price of $111.93.

In related news, EVP Jeffrey Robert Ajer sold 1,180 shares of the business’s stock in a transaction that occurred on Wednesday, April 13th. The shares were sold at an average price of $82.47, for a total transaction of $97,314.60. Following the completion of the transaction, the executive vice president now owns 55,077 shares of the company’s stock, valued at $4,542,200.19. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Brian Mueller sold 11,800 shares of the business’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $84.50, for a total transaction of $997,100.00. Following the transaction, the chief financial officer now directly owns 38,639 shares of the company’s stock, valued at approximately $3,264,995.50. The disclosure for this sale can be found here. Insiders sold 131,727 shares of company stock valued at $10,786,429 in the last quarter. Corporate insiders own 1.75% of the company’s stock.

NASDAQ BMRN opened at $79.28 on Friday. BioMarin Pharmaceutical Inc. has a 52-week low of $71.59 and a 52-week high of $94.20. The company has a 50-day simple moving average of $80.38 and a 200 day simple moving average of $83.68. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.28 and a current ratio of 4.88. The company has a market capitalization of $14.67 billion, a PE ratio of 440.44, a price-to-earnings-growth ratio of 1.64 and a beta of 0.41.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Rating) last posted its quarterly earnings data on Wednesday, April 27th. The biotechnology company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.16. The business had revenue of $519.36 million during the quarter, compared to the consensus estimate of $505.11 million. BioMarin Pharmaceutical had a net margin of 2.09% and a return on equity of 1.36%. During the same quarter last year, the company posted $0.29 earnings per share. As a group, analysts forecast that BioMarin Pharmaceutical Inc. will post 0.94 EPS for the current fiscal year.

BioMarin Pharmaceutical Profile (Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for BioMarin Pharmaceutical (NASDAQ:BMRN)

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