Thornburg Investment Management Inc. Sells 105,276 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Thornburg Investment Management Inc. reduced its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 38.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 170,802 shares of the biotechnology company's stock after selling 105,276 shares during the quarter. Thornburg Investment Management Inc. owned approximately 0.09% of BioMarin Pharmaceutical worth $16,475,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in BMRN. Stratos Wealth Partners LTD. lifted its position in BioMarin Pharmaceutical by 2.1% during the 4th quarter. Stratos Wealth Partners LTD. now owns 5,709 shares of the biotechnology company's stock worth $550,000 after buying an additional 115 shares in the last quarter. KB Financial Partners LLC boosted its position in BioMarin Pharmaceutical by 51.3% during the third quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company's stock valued at $31,000 after purchasing an additional 118 shares during the last quarter. First Horizon Advisors Inc. grew its stake in BioMarin Pharmaceutical by 33.3% in the fourth quarter. First Horizon Advisors Inc. now owns 576 shares of the biotechnology company's stock valued at $56,000 after purchasing an additional 144 shares in the last quarter. Atria Wealth Solutions Inc. increased its position in shares of BioMarin Pharmaceutical by 1.6% during the 4th quarter. Atria Wealth Solutions Inc. now owns 9,729 shares of the biotechnology company's stock worth $938,000 after purchasing an additional 153 shares during the last quarter. Finally, CIBC Asset Management Inc raised its stake in shares of BioMarin Pharmaceutical by 2.5% during the 3rd quarter. CIBC Asset Management Inc now owns 6,479 shares of the biotechnology company's stock worth $573,000 after purchasing an additional 155 shares in the last quarter. Institutional investors own 98.71% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Evercore ISI started coverage on shares of BioMarin Pharmaceutical in a research note on Tuesday. They issued an "outperform" rating and a $113.00 target price for the company. Scotiabank upped their target price on shares of BioMarin Pharmaceutical from $83.00 to $85.00 and gave the company a "sector perform" rating in a report on Thursday, April 25th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $110.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, April 25th. Robert W. Baird lowered 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. Finally, Morgan Stanley cut their price objective on BioMarin Pharmaceutical from $115.00 to $112.00 and set an "overweight" rating for the company in a research report on Friday, April 26th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, BioMarin Pharmaceutical presently has an average rating of "Moderate Buy" and an average target price of $107.79.

Insider Buying and Selling

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 shares were sold at an average price of $85.18, for a total value of $3,010,346.38. Following the completion of 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 filing with the Securities & Exchange Commission, which is available through this link. In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 2,286 shares of BioMarin Pharmaceutical stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $90.00, for a total value of $205,740.00. Following the transaction, the chief accounting officer now owns 16,156 shares in the company, valued at $1,454,040. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Henry J. Fuchs sold 35,341 shares of the business's stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $85.18, for a total value of $3,010,346.38. Following the transaction, the insider now directly owns 212,117 shares of the company's stock, valued at approximately $18,068,126.06. The disclosure for this sale can be found here. Insiders sold 110,079 shares of company stock valued at $9,528,436 over the last quarter. 1.85% of the stock is owned by company insiders.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ:BMRN traded down $0.85 on Tuesday, reaching $79.65. 1,530,629 shares of the company's stock were exchanged, compared to its average volume of 1,447,012. The company has a current ratio of 2.74, a quick ratio of 1.70 and a debt-to-equity ratio of 0.12. BioMarin Pharmaceutical Inc. has a twelve month low of $76.02 and a twelve month high of $99.56. The company has a fifty day moving average of $86.07 and a 200-day moving average of $88.99. The company has a market capitalization of $15.12 billion, a price-to-earnings ratio of 74.44, a PEG ratio of 1.28 and a beta of 0.34.

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

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