Royal London Asset Management Ltd. Sells 486 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Royal London Asset Management Ltd. cut its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 76,859 shares of the biotechnology company’s stock after selling 486 shares during the quarter. Royal London Asset Management Ltd.’s holdings in BioMarin Pharmaceutical were worth $5,052,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of BMRN. Erste Asset Management GmbH acquired a new stake in shares of BioMarin Pharmaceutical in the third quarter valued at about $48,527,000. Assenagon Asset Management S.A. boosted its stake in 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 purchasing an additional 502,695 shares during the period. Vestal Point Capital LP acquired a new stake in BioMarin Pharmaceutical in the 3rd quarter valued at approximately $28,116,000. Clearline Capital LP bought a new position in BioMarin Pharmaceutical in the 3rd quarter worth approximately $22,477,000. Finally, Bellevue Group AG lifted its holdings in shares of BioMarin Pharmaceutical by 533.7% during the third quarter. Bellevue Group AG now owns 330,976 shares of the biotechnology company’s stock worth $23,264,000 after buying an additional 278,744 shares during the last quarter. Institutional investors own 98.71% of the company’s stock.

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,295 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total transaction of $92,618.40. Following the sale, the chief accounting officer now owns 16,955 shares of the company’s stock, valued at $1,212,621.60. This represents a 7.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.85% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BMRN shares. StockNews.com upgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 18th. Citigroup raised their price target on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Oppenheimer raised BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 target price on the stock in a research report on Monday, February 24th. Finally, Bank of America upped their price target on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.00.

BioMarin Pharmaceutical Stock Performance

NASDAQ BMRN opened at $71.24 on Monday. BioMarin Pharmaceutical Inc. has a 1-year low of $60.63 and a 1-year high of $94.85. The company has a 50 day moving average of $66.58 and a 200-day moving average of $67.96. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The firm has a market cap of $13.59 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 0.61 and a beta of 0.33.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.18. The firm had revenue of $747.31 million during the quarter, compared to analysts’ expectations of $711.05 million. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. On average, equities analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 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.