BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC trimmed its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 49.8% during the fourth quarter, Holdings Channel reports. The firm owned 11,734 shares of the biotechnology company’s stock after selling 11,661 shares during the quarter. Gotham Asset Management LLC’s holdings in BioMarin Pharmaceutical were worth $771,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of BMRN. SBI Securities Co. Ltd. acquired a new position in shares of BioMarin Pharmaceutical in the fourth quarter valued at approximately $36,000. CIBC Private Wealth Group LLC grew its stake in shares of BioMarin Pharmaceutical by 64.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company’s stock worth $41,000 after acquiring an additional 233 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of BioMarin Pharmaceutical by 111.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company’s stock worth $58,000 after acquiring an additional 466 shares during the period. UMB Bank n.a. raised its stake in shares of BioMarin Pharmaceutical by 260.1% in the fourth quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company’s stock valued at $67,000 after acquiring an additional 736 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in BioMarin Pharmaceutical by 27.5% in the fourth quarter. Blue Trust Inc. now owns 1,095 shares of the biotechnology company’s stock valued at $77,000 after purchasing an additional 236 shares during the period. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Erin Burkhart sold 1,344 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $68.38, for a total value of $91,902.72. Following the transaction, the chief accounting officer now owns 13,105 shares in the company, valued at $896,119.90. The trade was a 9.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last three months, insiders sold 2,912 shares of company stock valued at $202,244. Insiders own 0.85% of the company’s stock.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN opened at $59.27 on Monday. The stock has a market cap of $11.37 billion, a P/E ratio of 26.94, a P/E/G ratio of 0.61 and a beta of 0.27. BioMarin Pharmaceutical Inc. has a twelve month low of $52.93 and a twelve month high of $94.85. The stock has a 50 day moving average of $63.63 and a two-hundred day moving average of $65.04. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.54 by $0.18. The firm 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%. On average, research analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Scotiabank raised their target price on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, February 20th. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. StockNews.com upgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a report on Friday, April 25th. Finally, Oppenheimer upgraded shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 target price for the company in a research note on Monday, February 24th. Six research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and a consensus target price of $93.45.

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.