BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. reduced its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRNFree Report) by 46.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 301,764 shares of the biotechnology company’s stock after selling 264,478 shares during the period. Franklin Resources Inc. owned approximately 0.16% of BioMarin Pharmaceutical worth $29,096,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BMRN. Principal Financial Group Inc. lifted its holdings in shares of BioMarin Pharmaceutical by 3.8% during the third quarter. Principal Financial Group Inc. now owns 32,604 shares of the biotechnology company’s stock worth $2,885,000 after purchasing an additional 1,190 shares during the period. Signaturefd LLC raised its holdings in shares of BioMarin Pharmaceutical by 17.9% during the third quarter. Signaturefd LLC now owns 1,283 shares of the biotechnology company’s stock worth $114,000 after purchasing an additional 195 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of BioMarin Pharmaceutical by 8.8% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 83,916 shares of the biotechnology company’s stock valued at $7,425,000 after buying an additional 6,768 shares during the last quarter. Barclays PLC lifted its holdings in shares of BioMarin Pharmaceutical by 31.6% in the 3rd quarter. Barclays PLC now owns 5,573,157 shares of the biotechnology company’s stock valued at $493,111,000 after buying an additional 1,336,886 shares during the period. Finally, Metis Global Partners LLC raised its position in BioMarin Pharmaceutical by 4.4% during the third quarter. Metis Global Partners LLC now owns 5,117 shares of the biotechnology company’s stock valued at $453,000 after acquiring an additional 214 shares in the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Performance

Shares of BioMarin Pharmaceutical stock opened at $75.52 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.74 and a quick ratio of 1.70. The stock has a market capitalization of $14.34 billion, a price-to-earnings ratio of 70.58, a price-to-earnings-growth ratio of 1.08 and a beta of 0.34. The business has a 50-day moving average of $84.63 and a 200 day moving average of $88.73. BioMarin Pharmaceutical Inc. has a 12 month low of $75.03 and a 12 month high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.37 by $0.12. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.34%. The business had revenue of $648.83 million during the quarter, compared to analyst estimates of $649.75 million. As a group, sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 1.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BMRN. Wells Fargo & Company raised their price objective on shares of BioMarin Pharmaceutical from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Evercore ISI initiated coverage on shares of BioMarin Pharmaceutical in a report on Tuesday, May 14th. They issued an “outperform” rating and a $113.00 price objective for the company. Royal Bank of Canada reissued a “sector perform” rating and set a $100.00 target price on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Robert W. Baird cut BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $104.00 to $72.00 in a report on Friday, May 17th. Finally, Morgan Stanley dropped their price objective on BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating on the stock in a report on Friday, April 26th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $106.11.

Check Out Our Latest Research Report on BioMarin Pharmaceutical

Insiders Place Their Bets

In related news, Director Jean Jacques Bienaime sold 20,000 shares of BioMarin Pharmaceutical stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $81.62, for a total value of $1,632,400.00. Following the completion of the transaction, the director now directly owns 474,994 shares in the company, valued at $38,769,010.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other BioMarin Pharmaceutical news, insider Henry J. Fuchs sold 35,341 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $85.18, for a total value of $3,010,346.38. Following the sale, the insider now directly owns 212,117 shares in the company, valued at $18,068,126.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jean Jacques Bienaime sold 20,000 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $81.62, for a total value of $1,632,400.00. Following the sale, the director now directly owns 474,994 shares of the company’s stock, valued at $38,769,010.28. The disclosure for this sale can be found here. Insiders sold a total of 110,079 shares of company stock worth $9,528,436 over the last 90 days. Corporate insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Company Profile

(Free Report)

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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