Swiss National Bank Sells 25,800 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Swiss National Bank decreased its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 4.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 537,800 shares of the biotechnology company’s stock after selling 25,800 shares during the period. Swiss National Bank owned about 0.28% of BioMarin Pharmaceutical worth $35,350,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. TD Private Client Wealth LLC increased its holdings in shares of BioMarin Pharmaceutical by 57.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after buying an additional 186 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at $36,000. Meeder Asset Management Inc. boosted its stake in shares of BioMarin Pharmaceutical by 920.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 663 shares in the last quarter. True Wealth Design LLC boosted its stake in shares of BioMarin Pharmaceutical by 13,400.0% in the 3rd quarter. True Wealth Design LLC now owns 810 shares of the biotechnology company’s stock valued at $57,000 after purchasing an additional 804 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of BioMarin Pharmaceutical by 111.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company’s stock valued at $58,000 after purchasing an additional 466 shares in the last quarter. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Trading Down 1.6 %

NASDAQ:BMRN opened at $69.44 on Monday. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The company has a 50-day moving average price of $66.22 and a 200-day moving average price of $68.65. The stock has a market cap of $13.25 billion, a price-to-earnings ratio of 31.56, a P/E/G ratio of 0.61 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a 12 month low of $60.63 and a 12 month high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, topping 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 net margin of 14.96% and a return on equity of 9.91%. Equities analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

Analyst Ratings Changes

BMRN has been the subject of a number of research reports. Wedbush reaffirmed an “outperform” rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Bank of America upped their price objective on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. StockNews.com raised shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Monday, March 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Finally, Oppenheimer raised shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price target for the company in a research report on Monday, February 24th. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $94.00.

Insider Buying and Selling

In related news, CAO Erin Burkhart sold 1,344 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $68.38, for a total value of $91,902.72. Following the completion of the transaction, the chief accounting officer now directly owns 13,105 shares in the company, valued at $896,119.90. This trade represents a 9.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.85% of the stock is owned by company insiders.

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.