BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. cut its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 377,771 shares of the biotechnology company’s stock after selling 4,323 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in BioMarin Pharmaceutical were worth $36,425,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in BMRN. Norges Bank acquired a new position in BioMarin Pharmaceutical during the fourth quarter worth $324,098,000. Barclays PLC grew its holdings in shares of 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 buying an additional 1,336,886 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of BioMarin Pharmaceutical by 1,832.5% during the third quarter. Toronto Dominion Bank now owns 907,754 shares of the biotechnology company’s stock worth $80,318,000 after buying an additional 860,782 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of BioMarin Pharmaceutical by 251.1% during the third quarter. Hsbc Holdings PLC now owns 607,098 shares of the biotechnology company’s stock worth $53,941,000 after buying an additional 434,199 shares in the last quarter. Finally, abrdn plc grew its holdings in shares of BioMarin Pharmaceutical by 1,053.3% during the fourth quarter. abrdn plc now owns 376,238 shares of the biotechnology company’s stock worth $36,277,000 after buying an additional 343,615 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BMRN. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $110.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, April 25th. Robert W. Baird lowered shares of BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $104.00 to $72.00 in a report on Friday, May 17th. Evercore ISI began coverage on shares of BioMarin Pharmaceutical in a report on Tuesday, May 14th. They set an “outperform” rating and a $113.00 target price for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $100.00 target price on shares of BioMarin Pharmaceutical in a report on Friday, February 23rd. Finally, Morgan Stanley dropped their price objective on shares of BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating for the company in a report on Friday, April 26th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.11.

Insider Transactions at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 2,286 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $90.00, for a total transaction of $205,740.00. Following the sale, the chief accounting officer now owns 16,156 shares of the company’s stock, valued at $1,454,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Erin Burkhart sold 2,286 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $90.00, for a total transaction of $205,740.00. Following the sale, the chief accounting officer now owns 16,156 shares of the company’s stock, valued at $1,454,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP George Eric Davis sold 24,602 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $88.34, for a total transaction of $2,173,340.68. Following the sale, the executive vice president now directly owns 55,856 shares in the company, valued at approximately $4,934,319.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,079 shares of company stock valued at $9,528,436. 1.85% of the stock is currently owned by corporate insiders.

BioMarin Pharmaceutical Trading Down 0.5 %

BMRN stock traded down $0.38 during mid-day trading on Friday, hitting $75.52. 2,028,948 shares of the company were exchanged, compared to its average volume of 1,909,905. The company has a quick ratio of 1.70, a current ratio of 2.74 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $14.34 billion, a P/E ratio of 70.58, a PEG ratio of 1.08 and a beta of 0.34. The business has a fifty day simple moving average of $84.63 and a 200-day simple moving average of $88.71. BioMarin Pharmaceutical Inc. has a 12-month low of $75.03 and a 12-month high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Wednesday, April 24th. The biotechnology company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.12. The company had revenue of $648.83 million during the quarter, compared to analyst estimates of $649.75 million. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.34%. On average, equities research analysts predict that BioMarin Pharmaceutical Inc. will post 1.99 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.