Mitsubishi UFJ Asset Management Co. Ltd. Cuts Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Mitsubishi UFJ Asset Management Co. Ltd. trimmed its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 0.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 83,599 shares of the biotechnology company’s stock after selling 317 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in BioMarin Pharmaceutical were worth $8,082,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. KB Financial Partners LLC lifted its position in shares of BioMarin Pharmaceutical by 51.3% during the third quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 118 shares in the last quarter. Lindbrook Capital LLC raised its stake in shares of BioMarin Pharmaceutical by 259.8% in the fourth quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock valued at $37,000 after acquiring an additional 278 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of BioMarin Pharmaceutical by 135.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 249 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in BioMarin Pharmaceutical by 33.3% in the fourth quarter. First Horizon Advisors Inc. now owns 576 shares of the biotechnology company’s stock valued at $56,000 after purchasing an additional 144 shares during the period. Finally, Allworth Financial LP grew its stake in BioMarin Pharmaceutical by 54.9% during the 4th quarter. Allworth Financial LP now owns 604 shares of the biotechnology company’s stock worth $58,000 after purchasing an additional 214 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BMRN. Morgan Stanley reduced their price target on BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating on the stock in a research report on Friday, April 26th. Robert W. Baird downgraded shares of BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $104.00 to $72.00 in a research report on Friday. Baird R W cut shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research report on Friday. Cantor Fitzgerald reiterated an “overweight” rating and set a $110.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, April 25th. Finally, Citigroup cut their price target on BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.11.

BioMarin Pharmaceutical Trading Up 0.8 %

Shares of BioMarin Pharmaceutical stock opened at $77.56 on Friday. The company’s fifty day moving average is $85.47 and its two-hundred day moving average is $88.86. BioMarin Pharmaceutical Inc. has a 1 year low of $76.02 and a 1 year high of $99.56. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.70 and a current ratio of 2.74. The company has a market capitalization of $14.73 billion, a P/E ratio of 72.49, a PEG ratio of 1.22 and a beta of 0.34.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.12. The firm had revenue of $648.83 million for the quarter, compared to analysts’ expectations of $649.75 million. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. Analysts forecast that BioMarin Pharmaceutical Inc. will post 1.99 earnings per share for the current year.

Insider Activity

In related news, Director Jean Jacques Bienaime sold 20,000 shares of the stock in a transaction on Friday, April 12th. The stock was sold at an average price of $91.26, for a total transaction of $1,825,200.00. Following the completion of the sale, the director now directly owns 474,994 shares of the company’s stock, valued at $43,347,952.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Jean Jacques Bienaime sold 20,000 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $91.26, for a total value of $1,825,200.00. Following the completion of the sale, the director now owns 474,994 shares in the company, valued at $43,347,952.44. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jeffrey Robert Ajer sold 4,000 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $87.07, for a total value of $348,280.00. Following the completion of the sale, the executive vice president now directly owns 94,047 shares in the company, valued at approximately $8,188,672.29. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 110,079 shares of company stock valued at $9,528,436. Company insiders own 1.85% 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.