BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Nuveen Asset Management LLC

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

A number of other large investors have also recently added to or reduced their stakes in BMRN. LRI Investments LLC grew its stake in BioMarin Pharmaceutical by 856.9% in the 4th quarter. LRI Investments LLC now owns 488 shares of the biotechnology company's stock valued at $32,000 after acquiring an additional 437 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of BioMarin Pharmaceutical during the 4th quarter worth about $36,000. CIBC Private Wealth Group LLC boosted its stake in shares of 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 purchasing an additional 233 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of 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 purchasing an additional 466 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake 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 worth $67,000 after purchasing an additional 736 shares during the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Trading Down 0.8%

NASDAQ BMRN traded down $0.46 during mid-day trading on Friday, hitting $57.55. The company's stock had a trading volume of 1,732,309 shares, compared to its average volume of 1,867,263. BioMarin Pharmaceutical Inc. has a 52-week low of $52.93 and a 52-week high of $94.85. The stock's fifty day simple moving average is $62.42 and its two-hundred day simple moving average is $64.80. 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 has a market capitalization of $11.04 billion, a P/E ratio of 26.16, a price-to-earnings-growth ratio of 0.61 and a beta of 0.27.

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

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,786 shares of the 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 $840,600.63. This trade represents a 11.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 4,698 shares of company stock worth $308,172. Company insiders own 0.85% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BMRN shares. Piper Sandler raised their price target 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. Oppenheimer raised shares of BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 price target on the stock in a research note on Monday, February 24th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $70.00 price target on shares of BioMarin Pharmaceutical in a research note 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 stock a "buy" rating in a research note on Thursday, February 20th. Finally, Citigroup decreased their price target on shares of 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 equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $93.45.

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.