Howe & Rusling Inc. Decreases Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Howe & Rusling Inc. decreased its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 20.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,355 shares of the biotechnology company’s stock after selling 10,297 shares during the quarter. Howe & Rusling Inc.’s holdings in BioMarin Pharmaceutical were worth $2,587,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BMRN. TD Private Client Wealth LLC increased its stake in BioMarin Pharmaceutical by 57.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after buying an additional 186 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of BioMarin Pharmaceutical in the fourth quarter worth about $36,000. True Wealth Design LLC boosted its holdings in BioMarin Pharmaceutical by 13,400.0% in the third quarter. True Wealth Design LLC now owns 810 shares of the biotechnology company’s stock valued at $57,000 after purchasing an additional 804 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in BioMarin Pharmaceutical by 111.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company’s stock valued at $58,000 after purchasing an additional 466 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in BioMarin Pharmaceutical by 260.1% during the 4th quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company’s stock worth $67,000 after purchasing an additional 736 shares during the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Analysts Set New Price Targets

BMRN has been the subject of a number of recent analyst reports. Oppenheimer raised shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price target for the company in a research report on Monday, February 24th. Bank of America upped their target price on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Wedbush reiterated an “outperform” rating and issued a $94.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. UBS Group upped their price objective on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, Piper Sandler boosted their price target on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and an average price target of $94.00.

BioMarin Pharmaceutical Trading Down 0.1 %

Shares of NASDAQ:BMRN opened at $71.48 on Thursday. BioMarin Pharmaceutical Inc. has a twelve month low of $60.63 and a twelve 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 market cap of $13.64 billion, a P/E ratio of 32.49, a P/E/G ratio of 0.61 and a beta of 0.33. The company has a 50 day moving average of $67.03 and a 200-day moving average of $67.81.

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

Insider Buying and Selling

In other news, CAO Erin Burkhart sold 1,295 shares of the firm’s stock in a transaction 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 $1,212,621.60. This trade represents a 7.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.85% of the stock is 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.