Wealth Alliance Trims Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Wealth Alliance trimmed its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 10.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,185 shares of the biotechnology company’s stock after selling 249 shares during the quarter. Wealth Alliance’s holdings in BioMarin Pharmaceutical were worth $211,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lecap Asset Management Ltd. bought a new stake in BioMarin Pharmaceutical during the fourth quarter worth about $611,000. WCM Investment Management LLC bought a new stake in BioMarin Pharmaceutical during the fourth quarter worth about $465,000. Aquila Investment Management LLC lifted its stake in BioMarin Pharmaceutical by 62.5% during the fourth quarter. Aquila Investment Management LLC now owns 13,000 shares of the biotechnology company’s stock worth $1,253,000 after purchasing an additional 5,000 shares during the last quarter. Cerity Partners LLC bought a new stake in BioMarin Pharmaceutical during the fourth quarter worth about $299,000. Finally, Moody Aldrich Partners LLC lifted its stake in BioMarin Pharmaceutical by 24.6% during the fourth quarter. Moody Aldrich Partners LLC now owns 7,049 shares of the biotechnology company’s stock worth $680,000 after purchasing an additional 1,392 shares during the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at BioMarin Pharmaceutical

In other news, insider Henry J. Fuchs sold 35,341 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $85.18, for a total value of $3,010,346.38. Following the completion of the transaction, the insider now owns 212,117 shares of the company’s stock, valued at approximately $18,068,126.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Erin Burkhart sold 2,286 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $90.00, for a total transaction 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 approximately $1,454,040. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Henry J. Fuchs sold 35,341 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $85.18, for a total value of $3,010,346.38. Following the transaction, the insider now directly owns 212,117 shares of the company’s stock, valued at approximately $18,068,126.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,229 shares of company stock valued at $9,062,967. Corporate insiders own 1.84% 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 52-week low of $76.02 and a 52-week high of $99.56. The firm has a market capitalization of $16.73 billion, a P/E ratio of 100.72, a P/E/G ratio of 1.67 and a beta of 0.31. The stock has a 50 day moving average price of $87.61 and a 200-day moving average price of $89.12. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.57 and a current ratio of 2.51.

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 the consensus estimate of $0.44 by $0.05. BioMarin Pharmaceutical had a return on equity of 5.01% and a net margin of 6.93%. The firm had revenue of $646.21 million during the quarter, compared to analyst estimates of $639.53 million. During the same quarter in the prior year, the company earned $0.11 EPS. The business’s revenue was up 20.2% compared to the same quarter last year. As a group, equities research analysts anticipate that BioMarin Pharmaceutical Inc. will post 1.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BMRN shares. Robert W. Baird dropped their price target on BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating for the company in a research note on Tuesday, January 30th. Canaccord Genuity Group reissued a “hold” rating and issued a $91.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 29th. Cantor Fitzgerald reissued an “overweight” rating and issued a $100.00 target price on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Piper Sandler lowered their target price on BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $100.00 target price on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.61.

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.