BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Cibc World Markets Corp

Cibc World Markets Corp decreased its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 22.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,615 shares of the biotechnology company’s stock after selling 2,450 shares during the quarter. Cibc World Markets Corp’s holdings in BioMarin Pharmaceutical were worth $566,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. TD Private Client Wealth LLC raised its holdings in BioMarin Pharmaceutical by 57.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 186 shares during the period. SBI Securities Co. Ltd. acquired a new position in BioMarin Pharmaceutical in the 4th quarter worth about $36,000. True Wealth Design LLC raised its holdings in BioMarin Pharmaceutical by 13,400.0% in the 3rd quarter. True Wealth Design LLC now owns 810 shares of the biotechnology company’s stock worth $57,000 after purchasing an additional 804 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of BioMarin Pharmaceutical by 111.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company’s stock valued at $58,000 after acquiring an additional 466 shares during the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of BioMarin Pharmaceutical by 260.1% during the fourth quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company’s stock valued at $67,000 after acquiring an additional 736 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

Analysts Set New Price Targets

BMRN has been the subject of a number of research analyst reports. Bank of America increased their target price on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a report on Thursday, February 20th. StockNews.com raised BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 18th. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Finally, Scotiabank increased their target price on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $94.00.

BioMarin Pharmaceutical Trading Down 0.5 %

BMRN opened at $71.24 on Friday. BioMarin Pharmaceutical Inc. has a 52 week low of $60.63 and a 52 week high of $94.85. The business has a fifty day simple moving average of $66.58 and a 200-day simple moving average of $68.12. The firm has a market cap of $13.59 billion, a P/E ratio of 32.38, a P/E/G ratio of 0.61 and a beta of 0.33. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 EPS 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 analyst estimates of $711.05 million. On average, equities analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Insider Transactions at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,295 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total value of $92,618.40. Following the sale, the chief accounting officer now directly owns 16,955 shares in the company, valued at approximately $1,212,621.60. This trade represents a 7.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.85% 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.