Clearbridge Investments LLC Has $26.12 Million Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Clearbridge Investments LLC cut its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 37.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 270,843 shares of the biotechnology company’s stock after selling 160,576 shares during the period. Clearbridge Investments LLC owned approximately 0.14% of BioMarin Pharmaceutical worth $26,115,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Barclays PLC increased its position in BioMarin Pharmaceutical by 31.6% in the 3rd quarter. Barclays PLC now owns 5,573,157 shares of the biotechnology company’s stock worth $493,111,000 after purchasing an additional 1,336,886 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of BioMarin Pharmaceutical by 5.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,163,949 shares of the biotechnology company’s stock worth $456,906,000 after acquiring an additional 275,436 shares in the last quarter. Norges Bank bought a new stake in shares of BioMarin Pharmaceutical during the 4th quarter worth about $324,098,000. Charles Schwab Investment Management Inc. boosted its stake in shares of BioMarin Pharmaceutical by 5.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,378,897 shares of the biotechnology company’s stock worth $132,953,000 after acquiring an additional 74,100 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its stake in shares of BioMarin Pharmaceutical by 10.7% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,308,245 shares of the biotechnology company’s stock worth $115,754,000 after acquiring an additional 126,680 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 2,286 shares of the stock in a transaction on Wednesday, April 10th. The stock was 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 approximately $1,454,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Jean Jacques Bienaime sold 20,000 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $91.26, for a total value of $1,825,200.00. Following the transaction, the director now directly owns 474,994 shares in the company, valued at approximately $43,347,952.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Erin Burkhart sold 2,286 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $90.00, for a total value of $205,740.00. Following the completion of the transaction, the chief accounting officer now owns 16,156 shares in the company, valued at $1,454,040. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 110,079 shares of company stock worth $9,528,436. Insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Trading Down 0.7 %

BMRN stock opened at $75.90 on Friday. The business has a fifty day moving average price of $84.80 and a 200 day moving average price of $88.69. BioMarin Pharmaceutical Inc. has a fifty-two week low of $75.03 and a fifty-two week high of $99.56. The stock has a market capitalization of $14.41 billion, a price-to-earnings ratio of 70.94, a P/E/G ratio of 1.09 and a beta of 0.34. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.74 and a quick ratio of 1.70.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.12. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. The firm had revenue of $648.83 million during the quarter, compared to analysts’ expectations of $649.75 million. Analysts expect that BioMarin Pharmaceutical Inc. will post 1.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BMRN has been the subject of several recent analyst reports. Piper Sandler decreased their target price on BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. Citigroup decreased their target price on BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Cantor Fitzgerald restated an “overweight” rating and set a $110.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, April 25th. Wells Fargo & Company increased their target price on BioMarin Pharmaceutical from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Finally, Baird R W downgraded BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 17th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $106.11.

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.