Schonfeld Strategic Advisors LLC Sells 19,548 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Schonfeld Strategic Advisors LLC reduced its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 63.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,100 shares of the biotechnology company's stock after selling 19,548 shares during the period. Schonfeld Strategic Advisors LLC's holdings in BioMarin Pharmaceutical were worth $730,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of BMRN. SBI Securities Co. Ltd. purchased a new position in BioMarin Pharmaceutical during the 4th quarter worth $36,000. CIBC Private Wealth Group LLC lifted its position in shares of BioMarin Pharmaceutical by 64.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company's stock valued at $41,000 after purchasing an additional 233 shares in the last quarter. Smartleaf Asset Management LLC grew its position in BioMarin Pharmaceutical by 111.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company's stock worth $58,000 after purchasing an additional 466 shares in the last quarter. UMB Bank n.a. increased its stake in BioMarin Pharmaceutical by 260.1% in the 4th quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company's stock valued at $67,000 after buying an additional 736 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of BioMarin Pharmaceutical by 27.5% during the 4th quarter. Blue Trust Inc. now owns 1,095 shares of the biotechnology company's stock worth $77,000 after buying an additional 236 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company's stock.

BioMarin Pharmaceutical Trading Down 1.6 %

NASDAQ BMRN opened at $58.86 on Friday. The stock has a 50-day moving average of $64.83 and a 200-day moving average of $65.42. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 1-year low of $52.93 and a 1-year high of $94.85. The firm has a market cap of $11.29 billion, a PE ratio of 26.75, a price-to-earnings-growth ratio of 0.61 and a beta of 0.27.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.54 by $0.18. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. The firm had revenue of $747.31 million during the quarter, compared to analyst estimates of $711.05 million. As a group, sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,295 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total transaction of $92,618.40. Following the transaction, the chief accounting officer now owns 16,955 shares in the company, valued at $1,212,621.60. The trade was a 7.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have sold 2,912 shares of company stock worth $202,244. 0.85% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BMRN. Bank of America increased their price target on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $70.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. The Goldman Sachs Group reduced their price target on shares of BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $90.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Finally, Wedbush reissued an "outperform" rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of "Moderate Buy" and an average price target of $93.45.

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.

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