Zurcher Kantonalbank Zurich Cantonalbank Decreases Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 89.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,110 shares of the biotechnology company's stock after selling 657,750 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in BioMarin Pharmaceutical were worth $7,531,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in BMRN. Raymond James Financial Services Advisors Inc. raised its holdings in shares of BioMarin Pharmaceutical by 225.9% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 16,838 shares of the biotechnology company's stock valued at $1,298,000 after acquiring an additional 11,672 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of BioMarin Pharmaceutical by 64.6% during the first quarter. American Century Companies Inc. now owns 11,312 shares of the biotechnology company's stock valued at $872,000 after acquiring an additional 4,440 shares during the last quarter. Cetera Advisor Networks LLC raised its holdings in shares of BioMarin Pharmaceutical by 38.3% during the first quarter. Cetera Advisor Networks LLC now owns 5,525 shares of the biotechnology company's stock valued at $426,000 after acquiring an additional 1,530 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of BioMarin Pharmaceutical by 14.4% during the first quarter. PNC Financial Services Group Inc. now owns 8,362 shares of the biotechnology company's stock valued at $644,000 after acquiring an additional 1,055 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of BioMarin Pharmaceutical by 395.4% during the first quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company's stock valued at $32,000 after acquiring an additional 344 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company's stock.

Insider Activity

In other news, Director Jean Jacques Bienaime sold 1,000 shares of the stock in a transaction 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 directly owns 562,203 shares in the company, valued at $50,795,041.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Jean Jacques Bienaime sold 1,000 shares of the stock in a transaction 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 directly owns 562,203 shares in the company, valued at $50,795,041.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Erin Burkhart sold 2,286 shares of the stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $90.00, for a total value of $205,740.00. Following the completion of the sale, the chief accounting officer now owns 16,156 shares in the company, valued at $1,454,040. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,229 shares of company stock worth $9,062,967. Corporate insiders own 1.84% of the company's stock.

BioMarin Pharmaceutical Trading Down 1.6 %

NASDAQ:BMRN traded down $1.44 during trading hours on Friday, reaching $88.63. 1,778,647 shares of the stock were exchanged, compared to its average volume of 1,290,770. The company has a quick ratio of 1.57, a current ratio of 2.51 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average of $87.61 and a two-hundred day moving average of $89.17. BioMarin Pharmaceutical Inc. has a twelve month low of $76.02 and a twelve month high of $99.56. The company has a market capitalization of $16.73 billion, a price-to-earnings ratio of 100.72, a PEG ratio of 1.64 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 EPS for the quarter, topping 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 company had revenue of $646.21 million for the quarter, compared to analysts' expectations of $639.53 million. During the same period in the prior year, the firm earned $0.11 earnings per share. The firm's revenue was up 20.2% compared to the same quarter last year. On average, equities analysts predict that BioMarin Pharmaceutical Inc. will post 1.85 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Piper Sandler reduced their target price on BioMarin Pharmaceutical from $115.00 to $107.00 and set an "overweight" rating for the company in a report on Friday, February 23rd. Cantor Fitzgerald restated an "overweight" rating and issued a $100.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Robert W. Baird dropped their price target on BioMarin Pharmaceutical from $127.00 to $104.00 and set an "outperform" rating for the company in a research report on Tuesday, January 30th. Canaccord Genuity Group restated a "hold" rating and issued a $91.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 29th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $100.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $107.61.

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.