BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. reduced its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 64.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 337,103 shares of the biotechnology company's stock after selling 623,513 shares during the period. Balyasny Asset Management L.P. owned approximately 0.18% of BioMarin Pharmaceutical worth $22,158,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. SBI Securities Co. Ltd. purchased a new stake in BioMarin Pharmaceutical during the 4th quarter worth approximately $36,000. CIBC Private Wealth Group LLC increased its stake in BioMarin Pharmaceutical by 64.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company's stock worth $41,000 after buying an additional 233 shares during the period. Smartleaf Asset Management LLC increased its stake in BioMarin Pharmaceutical by 111.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company's stock worth $58,000 after buying an additional 466 shares during the period. UMB Bank n.a. increased its stake in BioMarin Pharmaceutical by 260.1% during the 4th quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company's stock worth $67,000 after buying an additional 736 shares during the period. Finally, Blue Trust Inc. increased its stake in BioMarin Pharmaceutical by 27.5% during the 4th quarter. Blue Trust Inc. now owns 1,095 shares of the biotechnology company's stock worth $77,000 after buying an additional 236 shares during the period. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,295 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total transaction of $92,618.40. Following the transaction, the chief accounting officer now directly owns 16,955 shares of the company's stock, valued at approximately $1,212,621.60. The trade was a 7.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders sold 2,912 shares of company stock worth $202,244. 0.85% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Piper Sandler upped their target price on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Scotiabank increased their price objective on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a "sector perform" rating in a research report on Thursday, February 20th. Wedbush reissued an "outperform" rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Oppenheimer raised shares of BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 price objective on the stock in a research report on Monday, February 24th. Finally, StockNews.com raised shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 25th. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $93.45.

BioMarin Pharmaceutical Price Performance

Shares of BMRN traded up $2.83 during trading hours on Monday, reaching $61.69. The company had a trading volume of 938,427 shares, compared to its average volume of 1,863,362. The firm has a 50 day simple moving average of $64.83 and a 200-day simple moving average of $65.35. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $11.83 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 0.61 and a beta of 0.27. BioMarin Pharmaceutical Inc. has a 12-month low of $52.93 and a 12-month high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.18. The business had revenue of $747.31 million during the quarter, compared to the consensus estimate of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. Research analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current 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.