Primecap Management Co. CA Sells 678,264 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Primecap Management Co. CA reduced its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 3.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,189,171 shares of the biotechnology company’s stock after selling 678,264 shares during the quarter. Primecap Management Co. CA owned 0.10% of BioMarin Pharmaceutical worth $1,195,574,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in BMRN. Erste Asset Management GmbH bought a new position in shares of BioMarin Pharmaceutical during the 3rd quarter valued at approximately $48,527,000. Assenagon Asset Management S.A. grew its stake in shares of BioMarin Pharmaceutical by 461.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company’s stock valued at $40,205,000 after acquiring an additional 502,695 shares during the period. Vestal Point Capital LP bought a new position in shares of BioMarin Pharmaceutical during the 3rd quarter valued at approximately $28,116,000. Clearline Capital LP bought a new position in shares of BioMarin Pharmaceutical during the 3rd quarter valued at approximately $22,477,000. Finally, Bellevue Group AG grew its stake in shares of BioMarin Pharmaceutical by 533.7% during the 3rd quarter. Bellevue Group AG now owns 330,976 shares of the biotechnology company’s stock valued at $23,264,000 after acquiring an additional 278,744 shares during the period. 98.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BMRN. Piper Sandler increased their price objective on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. UBS Group increased their price objective on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Citigroup increased their price objective on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Wedbush reaffirmed an “outperform” rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $94.00.

BioMarin Pharmaceutical Stock Up 3.0 %

NASDAQ:BMRN opened at $71.55 on Tuesday. BioMarin Pharmaceutical Inc. has a twelve month low of $60.63 and a twelve month high of $94.85. The company has a market cap of $13.65 billion, a price-to-earnings ratio of 32.52, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33. The stock has a fifty day simple moving average of $66.31 and a 200-day simple moving average of $68.51. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.18. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. The business had revenue of $747.31 million during the quarter, compared to the consensus estimate of $711.05 million. Analysts anticipate that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

Insider Transactions at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,344 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $68.38, for a total transaction of $91,902.72. Following the transaction, the chief accounting officer now owns 13,105 shares in the company, valued at approximately $896,119.90. This trade represents a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.85% of the company’s stock.

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.