BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Holdings Lowered by Readystate Asset Management LP

Readystate Asset Management LP trimmed its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 22.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,726 shares of the biotechnology company’s stock after selling 3,674 shares during the period. Readystate Asset Management LP’s holdings in BioMarin Pharmaceutical were worth $1,227,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Stratos Wealth Partners LTD. lifted its stake in BioMarin Pharmaceutical by 2.1% in the 4th quarter. Stratos Wealth Partners LTD. now owns 5,709 shares of the biotechnology company’s stock worth $550,000 after acquiring an additional 115 shares in the last quarter. CWM LLC lifted its stake in 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 in the last quarter. KB Financial Partners LLC lifted its stake in 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 in the last quarter. Virtus ETF Advisers LLC lifted its stake in BioMarin Pharmaceutical by 3.8% in the 4th quarter. Virtus ETF Advisers LLC now owns 3,342 shares of the biotechnology company’s stock worth $322,000 after acquiring an additional 121 shares in the last quarter. Finally, Howe & Rusling Inc. raised its stake in shares of BioMarin Pharmaceutical by 0.4% during the 4th quarter. Howe & Rusling Inc. now owns 36,279 shares of the biotechnology company’s stock worth $3,755,000 after purchasing an additional 128 shares in the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BMRN has been the subject of a number of recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $100.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $101.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, December 21st. Robert W. Baird cut their price target on BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating for the company in a research note on Tuesday, January 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $100.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Finally, Piper Sandler lowered their price objective on BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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 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 sale, the chief accounting officer now owns 16,156 shares of the company’s stock, valued at approximately $1,454,040. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Henry J. Fuchs sold 35,341 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was 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 owns 212,117 shares in the company, valued at $18,068,126.06. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Erin Burkhart sold 2,286 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now owns 16,156 shares of the company’s stock, valued at approximately $1,454,040. The disclosure for this sale can be found here. Insiders have sold a total of 103,229 shares of company stock valued at $9,062,967 in the last 90 days. 1.84% of the stock is owned by corporate insiders.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN traded down $0.40 on Thursday, reaching $90.07. 944,850 shares of the stock traded hands, compared to its average volume of 1,348,617. The firm has a market cap of $17.00 billion, a price-to-earnings ratio of 102.35, a P/E/G ratio of 1.68 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 12 month low of $76.02 and a 12 month high of $99.56. The stock’s 50-day moving average price is $87.61 and its 200-day moving average price is $89.11.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.44 by $0.05. The business had revenue of $646.21 million for 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 firm earned $0.11 EPS. Equities analysts forecast that BioMarin Pharmaceutical Inc. will post 1.85 EPS for the current fiscal year.

About BioMarin Pharmaceutical

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.