BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 5.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 102,894 shares of the biotechnology company’s stock after selling 5,819 shares during the period. Mutual of America Capital Management LLC’s holdings in BioMarin Pharmaceutical were worth $7,232,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Simplify Asset Management Inc. increased its holdings in shares of BioMarin Pharmaceutical by 67.5% in the third quarter. Simplify Asset Management Inc. now owns 8,489 shares of the biotechnology company’s stock valued at $597,000 after purchasing an additional 3,422 shares during the period. CIBC Asset Management Inc grew its position in BioMarin Pharmaceutical by 5.6% in the 3rd quarter. CIBC Asset Management Inc now owns 6,731 shares of the biotechnology company’s stock valued at $473,000 after buying an additional 359 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in BioMarin Pharmaceutical by 0.8% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,105 shares of the biotechnology company’s stock valued at $1,483,000 after buying an additional 173 shares during the period. Metis Global Partners LLC raised its position in BioMarin Pharmaceutical by 9.7% during the 3rd quarter. Metis Global Partners LLC now owns 5,450 shares of the biotechnology company’s stock worth $383,000 after buying an additional 480 shares during the last quarter. Finally, Rakuten Securities Inc. boosted its holdings in shares of BioMarin Pharmaceutical by 125,900.0% in the third quarter. Rakuten Securities Inc. now owns 1,260 shares of the biotechnology company’s stock valued at $89,000 after acquiring an additional 1,259 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on BMRN. William Blair cut BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Truist Financial lowered their price target on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Citigroup cut their price objective on BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Piper Sandler increased their target price on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. Finally, UBS Group boosted their price target on BioMarin Pharmaceutical from $104.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $94.20.

Insider Activity at BioMarin Pharmaceutical

In related news, EVP Charles Greg Guyer sold 5,278 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total transaction of $350,300.86. Following the sale, the executive vice president now directly owns 68,909 shares in the company, valued at approximately $4,573,490.33. This trade represents a 7.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock opened at $61.93 on Tuesday. The company has a market cap of $11.80 billion, a price-to-earnings ratio of 37.08, a price-to-earnings-growth ratio of 0.63 and a beta of 0.31. BioMarin Pharmaceutical Inc. has a 12 month low of $61.40 and a 12 month high of $99.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62. The stock’s 50-day moving average is $69.99 and its 200-day moving average is $78.96.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.23). BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The business had revenue of $746.00 million during the quarter, compared to analysts’ expectations of $703.37 million. During the same quarter in the previous year, the business posted $0.26 EPS. The company’s quarterly revenue was up 28.4% on a year-over-year basis. Equities analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.47 earnings per share for the current 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.