Van ECK Associates Corp Sells 20,975 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Van ECK Associates Corp cut its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 13.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,096 shares of the biotechnology company's stock after selling 20,975 shares during the quarter. Van ECK Associates Corp owned approximately 0.07% of BioMarin Pharmaceutical worth $12,930,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. KB Financial Partners LLC raised its holdings in BioMarin Pharmaceutical by 51.3% in the 3rd quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company's stock valued at $31,000 after acquiring an additional 118 shares during the period. Lindbrook Capital LLC boosted its position in BioMarin Pharmaceutical by 259.8% in the fourth quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company's stock valued at $37,000 after buying an additional 278 shares in the last quarter. Castleview Partners LLC acquired a new stake in BioMarin Pharmaceutical in the third quarter valued at approximately $35,000. Allworth Financial LP boosted its position in BioMarin Pharmaceutical by 54.9% in the fourth quarter. Allworth Financial LP now owns 604 shares of the biotechnology company's stock valued at $58,000 after buying an additional 214 shares in the last quarter. Finally, Headlands Technologies LLC boosted its position in BioMarin Pharmaceutical by 950.0% in the fourth quarter. Headlands Technologies LLC now owns 1,281 shares of the biotechnology company's stock valued at $124,000 after buying an additional 1,159 shares in the last quarter. 98.71% of the stock is owned by institutional investors.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, Director Jean Jacques Bienaime sold 20,000 shares of the business's stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $91.26, for a total value of $1,825,200.00. Following the completion of the transaction, the director now owns 474,994 shares of the company's stock, valued at approximately $43,347,952.44. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Henry J. Fuchs sold 35,341 shares of the company's stock in a transaction 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 owns 212,117 shares of the company's stock, valued at approximately $18,068,126.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jean Jacques Bienaime sold 20,000 shares of the company's stock in a transaction on Friday, April 12th. The shares were sold at an average price of $91.26, for a total transaction of $1,825,200.00. Following the completion of the sale, the director now directly owns 474,994 shares of the company's stock, valued at approximately $43,347,952.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 103,229 shares of company stock valued at $9,062,967. Company insiders own 1.85% of the company's stock.

BioMarin Pharmaceutical Stock Performance

BMRN stock traded up $0.47 during mid-day trading on Thursday, hitting $83.80. The company had a trading volume of 1,220,026 shares, compared to its average volume of 1,462,967. The firm has a market cap of $15.91 billion, a PE ratio of 77.88, a price-to-earnings-growth ratio of 1.28 and a beta of 0.34. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.57 and a current ratio of 2.74. BioMarin Pharmaceutical Inc. has a 12 month low of $76.02 and a 12 month high of $99.56. The stock's fifty day moving average price is $87.19 and its two-hundred day moving average price is $89.03.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.05. The company had revenue of $646.21 million for the quarter, compared to analyst estimates of $639.53 million. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.34%. The company's quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.11 earnings per share. On average, analysts forecast that BioMarin Pharmaceutical Inc. will post 1.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BMRN has been the subject of several analyst reports. Morgan Stanley dropped their price target on shares of BioMarin Pharmaceutical from $115.00 to $112.00 and set an "overweight" rating for the company in a research note on Friday, April 26th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $100.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Canaccord Genuity Group dropped their price target on shares of BioMarin Pharmaceutical from $91.00 to $89.00 and set a "hold" rating for the company in a research note on Friday, April 26th. Robert W. Baird lowered their target price on shares of BioMarin Pharmaceutical from $127.00 to $104.00 and set an "outperform" rating for the company in a research note on Tuesday, January 30th. Finally, Piper Sandler lowered their target price on shares of BioMarin Pharmaceutical from $115.00 to $107.00 and set an "overweight" rating for the company in a research note on Friday, February 23rd. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $107.50.

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.