Envestnet Asset Management Inc. Has $2.97 Million Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Envestnet Asset Management Inc. cut its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 14.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,121 shares of the biotechnology company's stock after selling 7,791 shares during the quarter. Envestnet Asset Management Inc.'s holdings in BioMarin Pharmaceutical were worth $2,966,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Oregon Public Employees Retirement Fund increased its position in BioMarin Pharmaceutical by 0.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 38,738 shares of the biotechnology company's stock valued at $2,546,000 after acquiring an additional 164 shares during the period. Fifth Third Bancorp increased its holdings in shares of BioMarin Pharmaceutical by 13.9% during the fourth quarter. Fifth Third Bancorp now owns 1,351 shares of the biotechnology company's stock valued at $89,000 after purchasing an additional 165 shares during the period. First Hawaiian Bank raised its stake in shares of BioMarin Pharmaceutical by 1.4% during the fourth quarter. First Hawaiian Bank now owns 14,700 shares of the biotechnology company's stock valued at $966,000 after purchasing an additional 200 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in BioMarin Pharmaceutical by 64.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company's stock worth $41,000 after purchasing an additional 233 shares during the period. Finally, Blue Trust Inc. grew its position in BioMarin Pharmaceutical by 27.5% in the 4th quarter. Blue Trust Inc. now owns 1,095 shares of the biotechnology company's stock valued at $77,000 after buying an additional 236 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,344 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $68.38, for a total transaction of $91,902.72. Following the completion of the sale, the chief accounting officer now directly owns 13,105 shares in the company, valued at approximately $896,119.90. This trade represents a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.85% of the company's stock.

BioMarin Pharmaceutical Stock Down 0.3 %

BioMarin Pharmaceutical stock traded down $0.16 during mid-day trading on Wednesday, hitting $63.12. The company's stock had a trading volume of 372,190 shares, compared to its average volume of 1,856,867. BioMarin Pharmaceutical Inc. has a 52-week low of $52.93 and a 52-week high of $94.85. The company has a market cap of $12.04 billion, a PE ratio of 28.69, a price-to-earnings-growth ratio of 0.61 and a beta of 0.30. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. The firm's 50 day moving average is $66.24 and its 200 day moving average is $65.90.

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. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. The business had revenue of $747.31 million during the quarter, compared to analyst estimates of $711.05 million. On average, analysts anticipate that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on BMRN shares. Scotiabank upped their price target on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 20th. UBS Group increased their price target on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Royal Bank of Canada reissued a "sector perform" rating and issued a $70.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Citigroup raised their target price on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Finally, StockNews.com raised BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a report on Friday, April 25th. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $93.14.

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.