Legal & General Group Plc Has $56.59 Million Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Legal & General Group Plc decreased its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 41.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 860,927 shares of the biotechnology company's stock after selling 610,122 shares during the period. Legal & General Group Plc owned approximately 0.45% of BioMarin Pharmaceutical worth $56,589,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. TD Private Client Wealth LLC increased its stake in BioMarin Pharmaceutical by 57.4% during the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company's stock valued at $36,000 after acquiring an additional 186 shares during the period. SBI Securities Co. Ltd. acquired a new stake in BioMarin Pharmaceutical during the fourth quarter worth $36,000. CIBC Private Wealth Group LLC raised its stake 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 buying an additional 233 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings 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 acquiring an additional 466 shares during the period. Finally, UMB Bank n.a. increased its stake in BioMarin Pharmaceutical by 260.1% in the fourth quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company's stock valued at $67,000 after acquiring an additional 736 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at BioMarin Pharmaceutical

In related 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 sale, the chief accounting officer now directly 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 at the SEC website. Insiders own 1.85% of the company's stock.

BioMarin Pharmaceutical Trading Up 1.1 %

Shares of BMRN stock traded up $0.66 during trading hours on Thursday, hitting $59.48. 227,143 shares of the company's stock traded hands, compared to its average volume of 1,875,736. The stock has a market cap of $11.35 billion, a PE ratio of 26.93, a price-to-earnings-growth ratio of 0.61 and a beta of 0.30. BioMarin Pharmaceutical Inc. has a 12 month low of $52.93 and a 12 month high of $94.85. The stock's 50 day simple moving average is $66.91 and its 200 day simple moving average is $66.43. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11.

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

Wall Street Analysts Forecast Growth

BMRN has been the topic of several analyst reports. Wedbush reiterated an "outperform" rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Cantor Fitzgerald restated an "overweight" rating and issued a $90.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Bank of America lifted their price target on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a "buy" rating in a report on Thursday, February 20th. UBS Group lifted their price objective on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Finally, Citigroup boosted their target price on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.00.

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.