BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by AIA Group Ltd

AIA Group Ltd lessened its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 12.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,810 shares of the biotechnology company’s stock after selling 563 shares during the quarter. AIA Group Ltd’s holdings in BioMarin Pharmaceutical were worth $367,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. KB Financial Partners LLC grew its holdings in BioMarin Pharmaceutical by 51.3% during the 3rd quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 118 shares during the last quarter. ICA Group Wealth Management LLC acquired a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth $31,000. Acadian Asset Management LLC boosted its holdings in shares of BioMarin Pharmaceutical by 395.4% during the first quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 344 shares during the last quarter. Castleview Partners LLC acquired a new stake in shares of BioMarin Pharmaceutical during the third quarter worth $35,000. Finally, MayTech Global Investments LLC acquired a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth $36,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Down 1.6 %

Shares of NASDAQ BMRN opened at $88.63 on Friday. BioMarin Pharmaceutical Inc. has a 1 year low of $76.02 and a 1 year high of $99.56. The firm has a market cap of $16.73 billion, a price-to-earnings ratio of 100.72, a PEG ratio of 1.67 and a beta of 0.31. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.57 and a current ratio of 2.51. The stock’s 50-day simple moving average is $87.61 and its 200-day simple moving average is $89.12.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.05. BioMarin Pharmaceutical had a return on equity of 5.01% and a net margin of 6.93%. The business had revenue of $646.21 million for the quarter, compared to analyst estimates of $639.53 million. During the same period in the previous year, the company earned $0.11 earnings per share. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. As a group, equities analysts anticipate that BioMarin Pharmaceutical Inc. will post 1.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jean Jacques Bienaime sold 20,000 shares of BioMarin Pharmaceutical stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $91.26, for a total value of $1,825,200.00. Following the completion of the transaction, the director now directly owns 474,994 shares in the company, valued at $43,347,952.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Jean Jacques Bienaime sold 20,000 shares of BioMarin Pharmaceutical stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $91.26, for a total value of $1,825,200.00. Following the completion of the transaction, the director now directly owns 474,994 shares in the company, valued at $43,347,952.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Erin Burkhart sold 2,286 shares of BioMarin Pharmaceutical stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $90.00, for a total value of $205,740.00. Following the completion of the transaction, the chief accounting officer now owns 16,156 shares of the company’s stock, valued at $1,454,040. The disclosure for this sale can be found here. Over the last three months, insiders sold 103,229 shares of company stock worth $9,062,967. Corporate insiders own 1.84% of the company’s stock.

Analysts Set New Price Targets

BMRN has been the topic of several analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $100.00 price objective on shares of BioMarin Pharmaceutical in a report on Friday, February 23rd. Piper Sandler decreased their price objective on BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Robert W. Baird cut their target price on BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $100.00 target price on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and issued a $91.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 29th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $107.61.

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.