Ensign Peak Advisors Inc Cuts Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Ensign Peak Advisors Inc lowered its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 8.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 61,868 shares of the biotechnology company's stock after selling 5,995 shares during the period. Ensign Peak Advisors Inc's holdings in BioMarin Pharmaceutical were worth $4,067,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of BMRN. Wedmont Private Capital purchased a new position in shares of BioMarin Pharmaceutical in the 4th quarter worth $430,000. Assenagon Asset Management S.A. lifted its holdings in BioMarin Pharmaceutical by 461.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company's stock valued at $40,205,000 after acquiring an additional 502,695 shares during the period. Avanza Fonder AB purchased a new position in BioMarin Pharmaceutical in the fourth quarter worth about $1,062,000. Merit Financial Group LLC bought a new stake in shares of BioMarin Pharmaceutical during the 4th quarter valued at about $317,000. Finally, UMB Bank n.a. increased its position in shares of BioMarin Pharmaceutical by 260.1% during the 4th quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company's stock valued at $67,000 after purchasing an additional 736 shares during the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN stock traded up $0.08 during mid-day trading on Tuesday, reaching $59.49. The stock had a trading volume of 393,004 shares, compared to its average volume of 1,860,723. BioMarin Pharmaceutical Inc. has a 1-year low of $52.93 and a 1-year high of $94.85. The firm has a market cap of $11.41 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 0.61 and a beta of 0.27. 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 business's fifty day moving average is $63.41 and its 200-day moving average is $64.99.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 14.96% and a return on equity of 9.91%. On average, research analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Insider Activity at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,295 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was 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 owns 16,955 shares of the company's stock, valued at $1,212,621.60. The trade was a 7.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 2,912 shares of company stock worth $202,244 over the last three months. Company insiders own 0.85% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on BMRN. Piper Sandler raised their price objective on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. StockNews.com raised shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a report on Friday, April 25th. The Goldman Sachs Group decreased their price target on BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Wedbush reaffirmed an "outperform" rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Finally, Citigroup decreased their target price on BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Six investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $93.45.

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.