BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Commerce Bank

Commerce Bank cut its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 7.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 36,569 shares of the biotechnology company’s stock after selling 3,050 shares during the period. Commerce Bank’s holdings in BioMarin Pharmaceutical were worth $3,526,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. KB Financial Partners LLC raised its position in 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 acquiring an additional 118 shares during the period. Lindbrook Capital LLC raised its position 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 buying an additional 278 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position 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 buying an additional 249 shares during the last quarter. First Horizon Advisors Inc. raised its position in shares of 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 buying an additional 144 shares during the last quarter. Finally, Allworth Financial LP raised its position in shares of BioMarin Pharmaceutical by 54.9% in the fourth quarter. Allworth Financial LP now owns 604 shares of the biotechnology company’s stock valued at $58,000 after buying an additional 214 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 target price on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Citigroup reduced their target price on shares of BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Morgan Stanley reduced their target price on shares of BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating for the company in a research report on Friday, April 26th. Canaccord Genuity Group reduced their target price on shares of BioMarin Pharmaceutical from $91.00 to $89.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Finally, Piper Sandler dropped their price objective on shares of BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating for the company in a report on Friday, February 23rd. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus target price of $106.11.

Insider Activity

In other news, 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 completion of the transaction, the insider now owns 212,117 shares of the company’s stock, valued at $18,068,126.06. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Jean Jacques Bienaime sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $90.35, for a total value of $90,350.00. Following the completion of the transaction, the director now owns 562,203 shares of the company’s stock, valued at $50,795,041.05. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 transaction of $3,010,346.38. Following the completion of the sale, the insider now directly owns 212,117 shares in the company, valued at approximately $18,068,126.06. The disclosure for this sale can be found here. Over the last quarter, insiders sold 110,079 shares of company stock valued at $9,528,436. 1.85% of the stock is currently owned by company insiders.

BioMarin Pharmaceutical Trading Down 0.5 %

Shares of BMRN stock opened at $75.52 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.74 and a quick ratio of 1.70. The firm has a market cap of $14.34 billion, a PE ratio of 70.58, a price-to-earnings-growth ratio of 1.08 and a beta of 0.34. The company has a 50-day moving average of $84.63 and a two-hundred day moving average of $88.73. BioMarin Pharmaceutical Inc. has a 1-year low of $75.03 and a 1-year high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.37 by $0.12. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.34%. The business had revenue of $648.83 million during the quarter, compared to analyst estimates of $649.75 million. On average, analysts predict that BioMarin Pharmaceutical Inc. will post 1.99 EPS for the current year.

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.