Assenagon Asset Management S.A. Decreases Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Assenagon Asset Management S.A. decreased its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 83.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,987 shares of the biotechnology company's stock after selling 86,091 shares during the period. Assenagon Asset Management S.A.'s holdings in BioMarin Pharmaceutical were worth $1,638,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BMRN. EFG Asset Management North America Corp. raised its position in shares of BioMarin Pharmaceutical by 44.9% during the third quarter. EFG Asset Management North America Corp. now owns 67,322 shares of the biotechnology company's stock valued at $5,957,000 after buying an additional 20,874 shares during the last quarter. FMR LLC raised its position in shares of BioMarin Pharmaceutical by 30.4% during the third quarter. FMR LLC now owns 713,797 shares of the biotechnology company's stock valued at $63,157,000 after buying an additional 166,219 shares during the last quarter. Nordea Investment Management AB raised its position in shares of BioMarin Pharmaceutical by 4.9% during the fourth quarter. Nordea Investment Management AB now owns 11,594 shares of the biotechnology company's stock valued at $1,121,000 after buying an additional 544 shares during the last quarter. National Bank of Canada FI raised its position in shares of BioMarin Pharmaceutical by 3,233.6% during the third quarter. National Bank of Canada FI now owns 610,911 shares of the biotechnology company's stock valued at $53,192,000 after buying an additional 592,585 shares during the last quarter. Finally, EULAV Asset Management raised its position in shares of BioMarin Pharmaceutical by 38.9% during the third quarter. EULAV Asset Management now owns 132,036 shares of the biotechnology company's stock valued at $11,683,000 after buying an additional 37,000 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Stifel Nicolaus reaffirmed a "buy" rating and set a $101.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, December 21st. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $100.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Robert W. Baird dropped their price target on shares of BioMarin Pharmaceutical from $127.00 to $104.00 and set an "outperform" rating for the company in a research report on Tuesday, January 30th. Piper Sandler dropped their price target on shares of BioMarin Pharmaceutical from $115.00 to $107.00 and set an "overweight" rating for the company in a research report on Friday, February 23rd. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $100.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $107.61.

Insider Activity at BioMarin Pharmaceutical

In other news, Director Jean Jacques Bienaime sold 15,000 shares of BioMarin Pharmaceutical stock in a transaction on Friday, February 9th. The shares were sold at an average price of $88.28, for a total transaction of $1,324,200.00. Following the transaction, the director now directly owns 419,602 shares of the company's stock, valued at $37,042,464.56. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Jeffrey Robert Ajer sold 4,000 shares of BioMarin Pharmaceutical stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $87.07, for a total transaction of $348,280.00. Following the transaction, the executive vice president now directly owns 94,047 shares of the company's stock, valued at $8,188,672.29. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jean Jacques Bienaime sold 15,000 shares of BioMarin Pharmaceutical stock in a transaction on Friday, February 9th. The stock was sold at an average price of $88.28, for a total transaction of $1,324,200.00. Following the transaction, the director now directly owns 419,602 shares in the company, valued at $37,042,464.56. The disclosure for this sale can be found here. Insiders have sold 90,943 shares of company stock worth $8,013,927 over the last ninety days. Company insiders own 1.84% of the company's stock.

BioMarin Pharmaceutical Trading Up 0.1 %

NASDAQ BMRN traded up $0.06 during trading hours on Friday, hitting $86.95. The company's stock had a trading volume of 828,855 shares, compared to its average volume of 1,307,531. The stock has a fifty day moving average of $87.46 and a 200 day moving average of $88.99. BioMarin Pharmaceutical Inc. has a twelve month low of $76.02 and a twelve month high of $100.38. The firm has a market capitalization of $16.41 billion, a P/E ratio of 98.19, a PEG ratio of 1.66 and a beta of 0.31. The company has a quick ratio of 1.57, a current ratio of 2.51 and a debt-to-equity ratio of 0.12.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.05. BioMarin Pharmaceutical had a net margin of 6.93% and a return on equity of 5.01%. The business had revenue of $646.21 million for the quarter, compared to analyst estimates of $639.53 million. During the same period in the prior year, the business posted $0.11 earnings per share. BioMarin Pharmaceutical's revenue was up 20.2% compared to the same quarter last year. Equities research analysts forecast that BioMarin Pharmaceutical Inc. will post 1.92 earnings per share for the current fiscal year.

BioMarin Pharmaceutical 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.