Clearbridge Investments LLC Sells 35,140 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Clearbridge Investments LLC decreased its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 14.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 210,254 shares of the biotechnology company’s stock after selling 35,140 shares during the period. Clearbridge Investments LLC owned about 0.11% of BioMarin Pharmaceutical worth $13,820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in BioMarin Pharmaceutical by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 19,372,185 shares of the biotechnology company’s stock valued at $1,273,334,000 after purchasing an additional 93,531 shares during the period. Norges Bank bought a new position in shares of BioMarin Pharmaceutical during the 4th quarter valued at approximately $234,645,000. Geode Capital Management LLC increased its holdings in BioMarin Pharmaceutical by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,260,050 shares of the biotechnology company’s stock worth $228,632,000 after acquiring an additional 60,692 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in BioMarin Pharmaceutical by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,423,508 shares of the biotechnology company’s stock worth $93,567,000 after acquiring an additional 21,880 shares during the period. Finally, abrdn plc lifted its holdings in BioMarin Pharmaceutical by 31.9% during the fourth quarter. abrdn plc now owns 695,802 shares of the biotechnology company’s stock valued at $45,735,000 after purchasing an additional 168,121 shares in the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $68.32 on Thursday. BioMarin Pharmaceutical Inc. has a 12-month low of $60.63 and a 12-month high of $94.85. 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 50-day moving average price of $67.88 and a 200-day moving average price of $67.30. The firm has a market capitalization of $13.03 billion, a PE ratio of 31.05, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced 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. The business had revenue of $747.31 million during the quarter, compared to the consensus estimate of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. As a group, equities research analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Piper Sandler increased their price objective on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Wedbush reaffirmed an “outperform” rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Bank of America lifted their target price on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, StockNews.com downgraded BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average target price of $94.00.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,295 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total value of $92,618.40. Following the transaction, the chief accounting officer now directly owns 16,955 shares in the company, valued at approximately $1,212,621.60. This represents a 7.10 % decrease in their ownership of the stock. 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 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.