Van ECK Associates Corp Decreases Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Van ECK Associates Corp trimmed its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 13.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 134,096 shares of the biotechnology company’s stock after selling 20,975 shares during the period. Van ECK Associates Corp’s holdings in BioMarin Pharmaceutical were worth $12,930,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its holdings in BioMarin Pharmaceutical by 7,368.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 60,571 shares of the biotechnology company’s stock valued at $5,840,000 after acquiring an additional 59,760 shares during the period. EFG Asset Management North America Corp. raised its holdings in BioMarin Pharmaceutical by 44.9% during the 3rd quarter. EFG Asset Management North America Corp. now owns 67,322 shares of the biotechnology company’s stock valued at $5,957,000 after buying an additional 20,874 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in BioMarin Pharmaceutical during the 4th quarter valued at $3,598,000. FMR LLC grew its holdings in BioMarin Pharmaceutical by 30.4% in the 3rd quarter. FMR LLC now owns 713,797 shares of the biotechnology company’s stock worth $63,157,000 after acquiring an additional 166,219 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in shares of BioMarin Pharmaceutical by 4.9% in the fourth quarter. Nordea Investment Management AB now owns 11,594 shares of the biotechnology company’s stock valued at $1,121,000 after acquiring an additional 544 shares during the period. 98.71% of the stock is owned by institutional investors.

Insider Transactions at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 2,286 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The shares were 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 $1,454,040. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 2,286 shares of the stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $90.00, for a total value of $205,740.00. Following the transaction, the chief accounting officer now directly owns 16,156 shares in the company, valued at $1,454,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jean Jacques Bienaime sold 1,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $90.35, for a total value of $90,350.00. Following the completion of the sale, the director now owns 562,203 shares of the company’s stock, valued at $50,795,041.05. The disclosure for this sale can be found here. Insiders have sold 103,229 shares of company stock worth $9,062,967 in the last quarter. Company insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Trading Up 3.2 %

NASDAQ:BMRN opened at $83.33 on Thursday. The company has a market cap of $15.82 billion, a PE ratio of 77.88, a price-to-earnings-growth ratio of 1.30 and a beta of 0.31. The company has a current ratio of 2.74, a quick ratio of 1.57 and a debt-to-equity ratio of 0.12. The company has a 50 day simple moving average of $87.19 and a two-hundred day simple moving average of $89.03. BioMarin Pharmaceutical Inc. has a 12 month low of $76.02 and a 12 month high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Thursday, February 22nd. The biotechnology company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.44 by $0.05. The company had revenue of $646.21 million during the quarter, compared to analyst estimates of $639.53 million. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. During the same quarter in the previous year, the company posted $0.11 earnings per share. BioMarin Pharmaceutical’s revenue was up 20.2% compared to the same quarter last year. Research analysts forecast that BioMarin Pharmaceutical Inc. will post 1.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on BMRN shares. Canaccord Genuity Group lowered their price target on BioMarin Pharmaceutical from $91.00 to $89.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Scotiabank raised their price target on BioMarin Pharmaceutical from $83.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 25th. Piper Sandler cut their price target on shares of BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Citigroup dropped their target price on shares of BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Finally, Robert W. Baird decreased their price target on shares of BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating for the company in a research note on Tuesday, January 30th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average price target of $107.50.

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.