Beacon Pointe Advisors LLC Sells 1,125 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Beacon Pointe Advisors LLC decreased its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRNGet Rating) by 6.9% in the second quarter, HoldingsChannel.com reports. The fund owned 15,292 shares of the biotechnology company’s stock after selling 1,125 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in BioMarin Pharmaceutical were worth $1,266,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in BMRN. Steward Partners Investment Advisory LLC boosted its stake in BioMarin Pharmaceutical by 325.5% during the first quarter. Steward Partners Investment Advisory LLC now owns 2,451 shares of the biotechnology company’s stock valued at $189,000 after buying an additional 1,875 shares during the last quarter. Arizona State Retirement System raised its position in BioMarin Pharmaceutical by 2.4% during the first quarter. Arizona State Retirement System now owns 51,105 shares of the biotechnology company’s stock valued at $3,940,000 after purchasing an additional 1,184 shares during the period. abrdn plc raised its position in BioMarin Pharmaceutical by 14.1% during the first quarter. abrdn plc now owns 23,058 shares of the biotechnology company’s stock valued at $1,790,000 after purchasing an additional 2,849 shares during the period. Banque Pictet & Cie SA purchased a new stake in BioMarin Pharmaceutical during the first quarter valued at approximately $2,230,000. Finally, Clearstead Advisors LLC raised its holdings in shares of BioMarin Pharmaceutical by 10,036.1% in the first quarter. Clearstead Advisors LLC now owns 3,649 shares of the biotechnology company’s stock worth $281,000 after buying an additional 3,613 shares during the period. Institutional investors own 94.84% of the company’s stock.

BioMarin Pharmaceutical Trading Up 7.2 %

BMRN opened at $97.79 on Thursday. The company has a quick ratio of 3.54, a current ratio of 5.15 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $18.14 billion, a P/E ratio of 232.83, a PEG ratio of 2.00 and a beta of 0.34. The stock’s fifty day moving average is $86.71 and its two-hundred day moving average is $85.53. BioMarin Pharmaceutical Inc. has a 52 week low of $70.73 and a 52 week high of $99.74.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Rating) last announced its earnings results on Wednesday, October 26th. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.41). The company had revenue of $505.30 million for the quarter, compared to the consensus estimate of $516.03 million. BioMarin Pharmaceutical had a net margin of 4.18% and a return on equity of 2.50%. The firm’s revenue was up 23.6% compared to the same quarter last year. During the same period last year, the business posted ($0.03) EPS. Analysts forecast that BioMarin Pharmaceutical Inc. will post 0.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BMRN. Piper Sandler increased their price target on BioMarin Pharmaceutical from $125.00 to $128.00 and gave the stock an “overweight” rating in a report on Tuesday, August 9th. Royal Bank of Canada increased their price target on BioMarin Pharmaceutical from $90.00 to $95.00 and gave the stock a “sector perform” rating in a report on Thursday, October 13th. Robert W. Baird reiterated an “outperform” rating and issued a $112.00 price target on shares of BioMarin Pharmaceutical in a report on Friday, August 26th. Barclays increased their price target on BioMarin Pharmaceutical from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, August 4th. Finally, Oppenheimer upgraded BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $92.00 to $110.00 in a report on Monday, October 31st. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $111.07.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 4,000 shares of the stock in a transaction on Friday, October 14th. The stock was sold at an average price of $89.89, for a total transaction of $359,560.00. Following the sale, the chief executive officer now owns 324,324 shares of the company’s stock, valued at approximately $29,153,484.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other BioMarin Pharmaceutical news, Director Mark J. Alles acquired 3,625 shares of the stock in a transaction dated Monday, October 31st. The stock was purchased at an average price of $86.75 per share, with a total value of $314,468.75. Following the transaction, the director now directly owns 10,905 shares of the company’s stock, valued at $946,008.75. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jean Jacques Bienaime sold 4,000 shares of the firm’s stock in a transaction on Friday, October 14th. The stock was sold at an average price of $89.89, for a total value of $359,560.00. Following the completion of the sale, the chief executive officer now directly owns 324,324 shares of the company’s stock, valued at approximately $29,153,484.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,500 shares of company stock valued at $747,745. 1.75% of the stock is currently owned by corporate insiders.

About BioMarin Pharmaceutical

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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.

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Institutional Ownership by Quarter for BioMarin Pharmaceutical (NASDAQ:BMRN)

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