GraniteShares Advisors LLC Lowers Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

GraniteShares Advisors LLC cut its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 5.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,671 shares of the biotechnology company’s stock after selling 299 shares during the quarter. GraniteShares Advisors LLC’s holdings in BioMarin Pharmaceutical were worth $373,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TD Private Client Wealth LLC raised its stake in shares of BioMarin Pharmaceutical by 57.4% in the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 186 shares during the last quarter. Meeder Asset Management Inc. increased its position in shares of BioMarin Pharmaceutical by 920.8% during the third quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock valued at $52,000 after acquiring an additional 663 shares during the last quarter. True Wealth Design LLC increased its position in shares of BioMarin Pharmaceutical by 13,400.0% during the third quarter. True Wealth Design LLC now owns 810 shares of the biotechnology company’s stock valued at $57,000 after acquiring an additional 804 shares during the last quarter. Blue Trust Inc. increased its position in shares of BioMarin Pharmaceutical by 504.9% during the third quarter. Blue Trust Inc. now owns 859 shares of the biotechnology company’s stock valued at $60,000 after acquiring an additional 717 shares during the last quarter. Finally, UMB Bank n.a. increased its position in shares of BioMarin Pharmaceutical by 260.1% during the fourth quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company’s stock valued at $67,000 after acquiring an additional 736 shares during the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,344 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $68.38, for a total transaction of $91,902.72. Following the sale, the chief accounting officer now owns 13,105 shares in the company, valued at $896,119.90. This trade represents a 9.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.85% of the stock is owned by corporate insiders.

BioMarin Pharmaceutical Price Performance

NASDAQ:BMRN opened at $71.17 on Wednesday. The firm has a market capitalization of $13.56 billion, a price-to-earnings ratio of 32.35, a P/E/G ratio of 0.61 and a beta of 0.28. BioMarin Pharmaceutical Inc. has a 52-week low of $60.63 and a 52-week high of $94.85. The stock has a fifty day moving average of $65.03 and a 200 day moving average of $70.48. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.18. The company had revenue of $747.31 million during the quarter, compared to analyst estimates of $711.05 million. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. On average, research analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BMRN. Evercore ISI decreased their price target on BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Citigroup increased their price target on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Canaccord Genuity Group decreased their price target on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating for the company in a research report on Wednesday, October 30th. Wedbush reaffirmed an “outperform” rating and set a $94.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Finally, Piper Sandler increased their price target on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.00.

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.