Mirae Asset Global Investments Co. Ltd. Cuts Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Mirae Asset Global Investments Co. Ltd. decreased its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 49.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,297 shares of the biotechnology company's stock after selling 50,979 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in BioMarin Pharmaceutical were worth $4,946,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. KB Financial Partners LLC boosted its position in BioMarin Pharmaceutical by 51.3% in the third quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company's stock worth $31,000 after purchasing an additional 118 shares during the last quarter. ICA Group Wealth Management LLC purchased a new position in BioMarin Pharmaceutical in the fourth quarter worth $31,000. Acadian Asset Management LLC boosted its position in BioMarin Pharmaceutical by 395.4% in the first quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company's stock worth $32,000 after purchasing an additional 344 shares during the last quarter. Castleview Partners LLC purchased a new position in BioMarin Pharmaceutical in the third quarter worth $35,000. Finally, MayTech Global Investments LLC purchased a new position in BioMarin Pharmaceutical in the fourth quarter worth $36,000. Hedge funds and other institutional investors own 98.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Stifel Nicolaus reissued a "buy" rating and issued a $101.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, December 21st. Canaccord Genuity Group reaffirmed a "hold" rating and set a $91.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 29th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $100.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Piper Sandler dropped their price target on BioMarin Pharmaceutical from $115.00 to $107.00 and set an "overweight" rating on the stock in a research report on Friday, February 23rd. Finally, Robert W. Baird dropped their price target on BioMarin Pharmaceutical from $127.00 to $104.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 30th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $107.61.

BioMarin Pharmaceutical Stock Down 0.7 %

NASDAQ BMRN traded down $0.64 during midday trading on Tuesday, hitting $90.87. 1,235,787 shares of the company traded hands, compared to its average volume of 1,355,056. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.51 and a quick ratio of 1.57. The company has a market cap of $17.15 billion, a PE ratio of 103.26, a price-to-earnings-growth ratio of 1.76 and a beta of 0.31. The company's 50-day simple moving average is $87.55 and its 200-day simple moving average is $89.10. BioMarin Pharmaceutical Inc. has a 52 week low of $76.02 and a 52 week high of $100.38.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.05. BioMarin Pharmaceutical had a return on equity of 5.01% and a net margin of 6.93%. The business had revenue of $646.21 million during the quarter, compared to analyst estimates of $639.53 million. During the same quarter last year, the business posted $0.11 EPS. The company's revenue was up 20.2% on a year-over-year basis. As a group, equities research analysts forecast that BioMarin Pharmaceutical Inc. will post 1.93 earnings per share for the current year.

Insider Transactions at BioMarin Pharmaceutical

In other news, insider Henry J. Fuchs sold 35,341 shares of the business's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $85.18, for a total transaction of $3,010,346.38. Following the transaction, the insider now directly owns 212,117 shares in the company, valued at approximately $18,068,126.06. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other BioMarin Pharmaceutical news, Director Jean Jacques Bienaime sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $90.35, for a total value of $90,350.00. Following the sale, the director now owns 562,203 shares of the company's stock, valued at $50,795,041.05. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Henry J. Fuchs sold 35,341 shares of the business's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $85.18, for a total value of $3,010,346.38. Following the completion of the sale, the insider now directly owns 212,117 shares in the company, valued at approximately $18,068,126.06. The disclosure for this sale can be found here. Insiders have sold a total of 103,229 shares of company stock worth $9,062,967 in the last ninety days. Insiders own 1.84% of the company's stock.

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.