Zurcher Kantonalbank Zurich Cantonalbank Lowers Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 89.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,110 shares of the biotechnology company’s stock after selling 657,750 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in BioMarin Pharmaceutical were worth $7,531,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in BMRN. KB Financial Partners LLC lifted its position in shares of BioMarin Pharmaceutical by 51.3% in the third quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 118 shares in the last quarter. ICA Group Wealth Management LLC purchased a new position in shares of BioMarin Pharmaceutical in the fourth quarter valued at about $31,000. Acadian Asset Management LLC lifted its position in shares of BioMarin Pharmaceutical by 395.4% in the first quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company’s stock worth $32,000 after buying an additional 344 shares in the last quarter. Castleview Partners LLC purchased a new stake in shares of BioMarin Pharmaceutical in the third quarter worth about $35,000. Finally, MayTech Global Investments LLC purchased a new stake in shares of BioMarin Pharmaceutical in the fourth quarter worth about $36,000. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Down 1.6 %

Shares of NASDAQ BMRN opened at $88.63 on Friday. 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 firm has a market capitalization of $16.73 billion, a price-to-earnings ratio of 100.72, a PEG ratio of 1.66 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 $89.15. BioMarin Pharmaceutical Inc. has a 52-week low of $76.02 and a 52-week high of $99.56.

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

Analysts Set New Price Targets

A number of research firms recently commented on BMRN. Piper Sandler decreased their target price on BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. Canaccord Genuity Group reiterated a “hold” rating and issued a $91.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $100.00 target price on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Royal Bank of Canada reissued a “sector perform” rating and set a $100.00 price objective on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Finally, Robert W. Baird reduced their price objective on BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 30th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.61.

Insider Activity at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 2,286 shares of the business’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 value of $205,740.00. Following the completion of the sale, the chief accounting officer now owns 16,156 shares in the company, valued at $1,454,040. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 2,286 shares of the company’s stock in a transaction 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 sale, the chief accounting officer now owns 16,156 shares in the company, valued at $1,454,040. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Jeffrey Robert Ajer sold 4,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $87.07, for a total value of $348,280.00. Following the sale, the executive vice president now owns 94,047 shares of the company’s stock, valued at approximately $8,188,672.29. The disclosure for this sale can be found here. Over the last quarter, insiders sold 103,229 shares of company stock worth $9,062,967. Company insiders own 1.84% of the company’s stock.

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.