FORA Capital LLC Sells 22,174 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

FORA Capital LLC lowered its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 87.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,225 shares of the biotechnology company's stock after selling 22,174 shares during the quarter. FORA Capital LLC's holdings in BioMarin Pharmaceutical were worth $212,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Merit Financial Group LLC acquired a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at $317,000. Assenagon Asset Management S.A. raised its stake in BioMarin Pharmaceutical by 461.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company's stock worth $40,205,000 after buying an additional 502,695 shares during the period. Wedmont Private Capital acquired a new stake in BioMarin Pharmaceutical during the 4th quarter worth $430,000. Swedbank AB raised its stake in BioMarin Pharmaceutical by 11.2% during the 4th quarter. Swedbank AB now owns 432,122 shares of the biotechnology company's stock worth $28,403,000 after buying an additional 43,593 shares during the period. Finally, Rhumbline Advisers raised its stake in BioMarin Pharmaceutical by 2.0% during the 4th quarter. Rhumbline Advisers now owns 556,255 shares of the biotechnology company's stock worth $36,563,000 after buying an additional 11,025 shares during the period. Institutional investors and hedge funds own 98.71% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on BMRN shares. Oppenheimer raised BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 price objective on the stock in a research note on Monday, February 24th. Wedbush reaffirmed an "outperform" rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. The Goldman Sachs Group dropped their price objective on BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Bank of America increased their target price on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Finally, UBS Group increased their target price on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $93.45.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN traded up $1.08 during mid-day trading on Friday, hitting $59.35. The stock had a trading volume of 1,304,154 shares, compared to its average volume of 1,871,675. BioMarin Pharmaceutical Inc. has a twelve month low of $52.93 and a twelve month high of $94.85. The stock has a market cap of $11.38 billion, a price-to-earnings ratio of 26.97, a PEG ratio of 0.61 and a beta of 0.27. The company's 50 day simple moving average is $63.85 and its 200 day simple moving average is $65.13. 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 (NASDAQ:BMRN - Get Free Report) last issued its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (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 business had revenue of $747.31 million during the quarter, compared to the consensus estimate of $711.05 million. On average, equities research analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,295 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total transaction of $92,618.40. Following the completion of the sale, the chief accounting officer now directly owns 16,955 shares in the company, valued at $1,212,621.60. This trade represents a 7.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 2,912 shares of company stock worth $202,244 over the last three months. Insiders own 0.85% of the company's stock.

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.