Nuveen Asset Management LLC Has $66.19 Million Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Nuveen Asset Management LLC decreased its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 17.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,006,922 shares of the biotechnology company's stock after selling 215,973 shares during the quarter. Nuveen Asset Management LLC owned about 0.53% of BioMarin Pharmaceutical worth $66,185,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund lifted its holdings in shares of BioMarin Pharmaceutical by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 38,738 shares of the biotechnology company's stock worth $2,546,000 after purchasing an additional 164 shares during the period. Fifth Third Bancorp raised its position in BioMarin Pharmaceutical by 13.9% during the 4th quarter. Fifth Third Bancorp now owns 1,351 shares of the biotechnology company's stock worth $89,000 after buying an additional 165 shares during the last quarter. Freedom Investment Management Inc. lifted its stake in BioMarin Pharmaceutical by 3.8% during the 4th quarter. Freedom Investment Management Inc. now owns 5,022 shares of the biotechnology company's stock valued at $330,000 after acquiring an additional 184 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in shares of BioMarin Pharmaceutical by 64.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company's stock valued at $41,000 after acquiring an additional 233 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in shares of BioMarin Pharmaceutical by 27.5% in the fourth quarter. Blue Trust Inc. now owns 1,095 shares of the biotechnology company's stock worth $77,000 after acquiring an additional 236 shares during the period. Institutional investors and hedge funds own 98.71% of the company's stock.

Insider Activity

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,786 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $59.31, for a total value of $105,927.66. Following the completion of the sale, the chief accounting officer now owns 14,173 shares of the company's stock, valued at approximately $840,600.63. This represents a 11.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 4,698 shares of company stock valued at $308,172 in the last 90 days. 0.85% of the stock is owned by company insiders.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN traded up $0.52 on Tuesday, hitting $59.93. The stock had a trading volume of 2,964,184 shares, compared to its average volume of 1,871,220. The firm's 50 day moving average price is $63.41 and its 200-day moving average price is $64.99. 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 twelve month low of $52.93 and a twelve month high of $94.85. The company has a market capitalization of $11.49 billion, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 0.61 and a beta of 0.27.

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BMRN shares. Royal Bank of Canada reiterated a "sector perform" rating and set a $70.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Scotiabank lifted their price target on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a "sector perform" rating in a research note on Thursday, February 20th. Bank of America upped their price objective on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Citigroup dropped their target price on shares of BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $90.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Six investment 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price 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.