Xponance Inc. Sells 203 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Xponance Inc. cut its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,966 shares of the biotechnology company’s stock after selling 203 shares during the quarter. Xponance Inc.’s holdings in BioMarin Pharmaceutical were worth $865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. KB Financial Partners LLC lifted its holdings in shares of BioMarin Pharmaceutical by 51.3% in the 3rd quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 118 shares during the last quarter. Castleview Partners LLC bought a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter worth approximately $35,000. Allworth Financial LP lifted its holdings in shares of BioMarin Pharmaceutical by 54.9% in the 4th quarter. Allworth Financial LP now owns 604 shares of the biotechnology company’s stock worth $58,000 after acquiring an additional 214 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of BioMarin Pharmaceutical by 17.9% in the 3rd quarter. Signaturefd LLC now owns 1,283 shares of the biotechnology company’s stock worth $114,000 after acquiring an additional 195 shares during the last quarter. Finally, CWM LLC lifted its holdings in shares of BioMarin Pharmaceutical by 10.0% in the 3rd quarter. CWM LLC now owns 1,301 shares of the biotechnology company’s stock worth $115,000 after acquiring an additional 118 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Stock Down 9.9 %

NASDAQ:BMRN opened at $82.17 on Friday. The firm’s 50-day moving average price is $87.74 and its 200-day moving average price is $89.18. The company has a market capitalization of $15.51 billion, a PE ratio of 93.38, a P/E/G ratio of 1.70 and a beta of 0.31. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.51 and a quick ratio of 1.57. BioMarin Pharmaceutical Inc. has a 1-year low of $76.02 and a 1-year high of $99.56.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BMRN. Royal Bank of Canada restated a “sector perform” rating and issued a $100.00 price objective on shares of BioMarin Pharmaceutical in a report on Friday, February 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $110.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $91.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 29th. Piper Sandler decreased their target price on shares of BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating on the stock in a research note on Friday, February 23rd. Finally, Wells Fargo & Company lifted their target price on shares of BioMarin Pharmaceutical from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $107.89.

Insider Buying and Selling

In related news, Director Jean Jacques Bienaime sold 15,000 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $88.28, for a total value of $1,324,200.00. Following the transaction, the director now owns 419,602 shares in the company, valued at approximately $37,042,464.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 2,286 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $90.00, for a total transaction of $205,740.00. Following the transaction, the chief accounting officer now owns 16,156 shares in the company, valued at approximately $1,454,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jean Jacques Bienaime sold 15,000 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $88.28, for a total transaction of $1,324,200.00. Following the transaction, the director now owns 419,602 shares in the company, valued at approximately $37,042,464.56. The disclosure for this sale can be found here. Insiders have sold a total of 103,229 shares of company stock worth $9,062,967 in the last quarter. Corporate insiders own 1.84% of the company’s stock.

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.