AIA Group Ltd Sells 563 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

AIA Group Ltd lessened its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 12.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,810 shares of the biotechnology company’s stock after selling 563 shares during the period. AIA Group Ltd’s holdings in BioMarin Pharmaceutical were worth $367,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. ICA Group Wealth Management LLC bought a new stake in shares of BioMarin Pharmaceutical in the fourth quarter valued at about $31,000. KB Financial Partners LLC lifted its stake in BioMarin Pharmaceutical by 51.3% during the third quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 118 shares during the period. MayTech Global Investments LLC bought a new position in BioMarin Pharmaceutical during the fourth quarter worth about $36,000. Dark Forest Capital Management LP bought a new position in BioMarin Pharmaceutical during the first quarter worth about $37,000. Finally, State of Wyoming bought a new position in BioMarin Pharmaceutical during the fourth quarter worth about $41,000. Institutional investors own 98.71% of the company’s stock.

Wall Street Analyst Weigh In

BMRN has been the subject of a number of analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $100.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Piper Sandler cut their price target 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. Cantor Fitzgerald restated an “overweight” rating and set a $100.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Canaccord Genuity Group restated a “hold” rating and set a $91.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 29th. Finally, Robert W. Baird dropped their price objective on shares of BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating for the company in a report on Tuesday, January 30th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $107.61.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, Director Jean Jacques Bienaime sold 20,000 shares of BioMarin Pharmaceutical 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 owns 474,994 shares of the company’s stock, valued at approximately $43,347,952.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Jean Jacques Bienaime sold 20,000 shares of BioMarin Pharmaceutical 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 transaction, the director now directly owns 474,994 shares of the company’s stock, valued at $43,347,952.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Erin Burkhart sold 2,286 shares of BioMarin Pharmaceutical stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $90.00, for a total transaction of $205,740.00. Following the transaction, the chief accounting officer now directly owns 16,156 shares in the company, valued at $1,454,040. The disclosure for this sale can be found here. In the last 90 days, insiders sold 103,229 shares of company stock valued at $9,062,967. Company insiders own 1.84% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

Shares of BioMarin Pharmaceutical stock opened at $88.63 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.51 and a quick ratio of 1.57. The firm has a market cap of $16.73 billion, a P/E ratio of 100.72, a P/E/G ratio of 1.67 and a beta of 0.31. The firm has a 50 day simple moving average of $87.61 and a 200 day simple moving average of $89.12. BioMarin Pharmaceutical Inc. has a fifty-two week low of $76.02 and a fifty-two week high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.05. BioMarin Pharmaceutical had a net margin of 6.93% and a return on equity of 5.01%. The firm had revenue of $646.21 million during the quarter, compared to analyst estimates of $639.53 million. During the same quarter in the previous year, the business earned $0.11 EPS. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. Sell-side analysts predict that BioMarin Pharmaceutical Inc. will post 1.85 earnings per share for the current fiscal year.

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.