BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Position Cut by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co reduced its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 19.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 171,018 shares of the biotechnology company's stock after selling 42,326 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.09% of BioMarin Pharmaceutical worth $11,233,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Canada Pension Plan Investment Board lifted its holdings in shares of BioMarin Pharmaceutical by 20.1% during the 4th quarter. Canada Pension Plan Investment Board now owns 474,500 shares of the biotechnology company's stock worth $31,189,000 after acquiring an additional 79,400 shares during the period. Zacks Investment Management raised its stake in BioMarin Pharmaceutical by 13.5% during the fourth quarter. Zacks Investment Management now owns 20,199 shares of the biotechnology company's stock worth $1,328,000 after purchasing an additional 2,397 shares during the period. Marshall Wace LLP acquired a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at $44,735,000. NewEdge Advisors LLC grew its stake in shares of BioMarin Pharmaceutical by 1,200.4% during the 4th quarter. NewEdge Advisors LLC now owns 3,381 shares of the biotechnology company's stock valued at $222,000 after buying an additional 3,121 shares during the period. Finally, United Capital Financial Advisors LLC acquired a new stake in shares of BioMarin Pharmaceutical during the 4th quarter worth $263,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Up 0.9 %

Shares of BioMarin Pharmaceutical stock traded up $0.56 during trading on Friday, reaching $63.30. The company had a trading volume of 750,685 shares, compared to its average volume of 1,866,959. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33. BioMarin Pharmaceutical Inc. has a fifty-two week low of $52.93 and a fifty-two week high of $94.85. The firm's fifty day moving average is $66.40 and its 200-day moving average is $65.97. The company has a market cap of $12.08 billion, a price-to-earnings ratio of 28.77, a price-to-earnings-growth ratio of 0.61 and a beta of 0.30.

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

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,295 shares of BioMarin Pharmaceutical stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total value of $92,618.40. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.85% of the stock is owned by insiders.

Analyst Ratings Changes

BMRN has been the topic of a number of research analyst reports. Wedbush reiterated an "outperform" rating and issued a $94.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Cantor Fitzgerald reiterated an "overweight" rating and set a $90.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Bank of America raised their price target on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Piper Sandler lifted their price target on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Finally, StockNews.com raised shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research report on Friday. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $93.14.

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.