BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Stock Holdings Lowered by DnB Asset Management AS

DnB Asset Management AS cut its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 7.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 993,170 shares of the biotechnology company’s stock after selling 81,458 shares during the quarter. DnB Asset Management AS owned about 0.52% of BioMarin Pharmaceutical worth $65,281,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of BioMarin Pharmaceutical in the fourth quarter valued at $234,645,000. Erste Asset Management GmbH acquired a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter valued at $48,527,000. Assenagon Asset Management S.A. increased its position in BioMarin Pharmaceutical by 461.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company’s stock worth $40,205,000 after purchasing an additional 502,695 shares during the last quarter. Vestal Point Capital LP bought a new position in BioMarin Pharmaceutical during the third quarter valued at approximately $28,116,000. Finally, Clearline Capital LP bought a new position in shares of BioMarin Pharmaceutical during the 3rd quarter valued at $22,477,000. 98.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Erin Burkhart sold 1,295 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total transaction of $92,618.40. Following the completion of the sale, the chief accounting officer now directly owns 16,955 shares of the company’s stock, valued at approximately $1,212,621.60. This trade represents a 7.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.85% of the stock is currently owned by corporate insiders.

BioMarin Pharmaceutical Stock Performance

Shares of BioMarin Pharmaceutical stock opened at $72.83 on Friday. The stock has a market capitalization of $13.89 billion, a price-to-earnings ratio of 33.10, a PEG ratio of 0.61 and a beta of 0.33. The firm has a fifty day moving average of $67.26 and a two-hundred day moving average of $67.84. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33. BioMarin Pharmaceutical Inc. has a 52 week low of $60.63 and a 52 week high of $94.85.

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

Wall Street Analyst Weigh In

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

About BioMarin Pharmaceutical

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.