Sumitomo Mitsui Trust Holdings Inc. Sells 5,805 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Sumitomo Mitsui Trust Holdings Inc. lessened its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 481,596 shares of the biotechnology company’s stock after selling 5,805 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.26% of BioMarin Pharmaceutical worth $46,435,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of BioMarin Pharmaceutical by 0.9% in the first quarter. Vanguard Group Inc. now owns 16,502,243 shares of the biotechnology company’s stock valued at $1,272,322,000 after buying an additional 151,212 shares during the period. Barclays PLC lifted its stake in BioMarin Pharmaceutical by 31.6% during the third quarter. Barclays PLC now owns 5,573,157 shares of the biotechnology company’s stock worth $493,111,000 after purchasing an additional 1,336,886 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in BioMarin Pharmaceutical by 5.6% during the third quarter. Ameriprise Financial Inc. now owns 5,163,949 shares of the biotechnology company’s stock worth $456,906,000 after purchasing an additional 275,436 shares during the last quarter. Norges Bank bought a new stake in BioMarin Pharmaceutical during the fourth quarter worth $285,013,000. Finally, Geode Capital Management LLC lifted its stake in BioMarin Pharmaceutical by 3.0% during the first quarter. Geode Capital Management LLC now owns 2,662,123 shares of the biotechnology company’s stock worth $258,492,000 after purchasing an additional 78,019 shares during the last quarter. Institutional investors own 98.71% of the company’s stock.

Analyst Ratings Changes

BMRN has been the subject of several recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $100.00 target price on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $100.00 target price on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Piper Sandler cut their target price on BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. Robert W. Baird lowered their price target on shares of BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating for the company in a report on Tuesday, January 30th. Finally, Canaccord Genuity Group reiterated a “hold” rating and set a $91.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 29th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $107.61.

BioMarin Pharmaceutical Stock Performance

NASDAQ BMRN opened at $88.63 on Friday. The company has a market capitalization of $16.73 billion, a price-to-earnings ratio of 100.72, a PEG ratio of 1.67 and a beta of 0.31. BioMarin Pharmaceutical Inc. has a twelve month low of $76.02 and a twelve month high of $99.56. The stock has a fifty day simple moving average of $87.61 and a 200 day simple moving average of $89.12. The company has a quick ratio of 1.57, a current ratio of 2.51 and a debt-to-equity ratio of 0.12.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.05. BioMarin Pharmaceutical had a return on equity of 5.01% and a net margin of 6.93%. The firm had revenue of $646.21 million during the quarter, compared to the consensus estimate of $639.53 million. During the same period last year, the business posted $0.11 EPS. The business’s revenue was up 20.2% compared to the same quarter last year. Sell-side analysts expect that BioMarin Pharmaceutical Inc. will post 1.85 EPS for the current year.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 2,286 shares of the stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $90.00, for a total transaction of $205,740.00. Following the completion of the sale, the chief accounting officer now directly owns 16,156 shares in the company, valued at approximately $1,454,040. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Henry J. Fuchs sold 35,341 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $85.18, for a total transaction of $3,010,346.38. Following the transaction, the insider now owns 212,117 shares of the company’s stock, valued at approximately $18,068,126.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Erin Burkhart sold 2,286 shares of the stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $90.00, for a total transaction of $205,740.00. Following the transaction, the chief accounting officer now directly owns 16,156 shares in the company, valued at approximately $1,454,040. The disclosure for this sale can be found here. In the last ninety days, insiders sold 103,229 shares of company stock worth $9,062,967. Company insiders own 1.84% of the company’s stock.

BioMarin Pharmaceutical 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.