Tokio Marine Asset Management Co. Ltd. Sells 272 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Tokio Marine Asset Management Co. Ltd. trimmed its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,178 shares of the biotechnology company’s stock after selling 272 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in BioMarin Pharmaceutical were worth $2,042,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its position in BioMarin Pharmaceutical by 7,368.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 60,571 shares of the biotechnology company’s stock valued at $5,840,000 after acquiring an additional 59,760 shares during the last quarter. EFG Asset Management North America Corp. raised its stake in BioMarin Pharmaceutical by 44.9% in the third quarter. EFG Asset Management North America Corp. now owns 67,322 shares of the biotechnology company’s stock valued at $5,957,000 after buying an additional 20,874 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in BioMarin Pharmaceutical in the fourth quarter valued at about $3,598,000. FMR LLC raised its stake in shares of BioMarin Pharmaceutical by 30.4% in the third quarter. FMR LLC now owns 713,797 shares of the biotechnology company’s stock worth $63,157,000 after purchasing an additional 166,219 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of BioMarin Pharmaceutical by 4.9% in the fourth quarter. Nordea Investment Management AB now owns 11,594 shares of the biotechnology company’s stock worth $1,121,000 after purchasing an additional 544 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Stock Down 8.7 %

BMRN traded down $7.93 during trading on Thursday, hitting $83.27. The company had a trading volume of 5,488,404 shares, compared to its average volume of 1,405,383. The company has a quick ratio of 1.57, a current ratio of 2.51 and a debt-to-equity ratio of 0.12. BioMarin Pharmaceutical Inc. has a one year low of $76.02 and a one year high of $99.56. The firm’s 50-day moving average price is $87.86 and its 200 day moving average price is $89.23. The company has a market capitalization of $15.72 billion, a PE ratio of 92.36, a PEG ratio of 1.70 and a beta of 0.31.

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

Analysts Set New Price Targets

BMRN has been the subject of several recent research reports. Wells Fargo & Company lifted their price target on BioMarin Pharmaceutical from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday. Robert W. Baird reduced their target price 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. Royal Bank of Canada reissued a “sector perform” rating and set a $100.00 target price on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Piper Sandler lowered their price objective on BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd. Finally, Canaccord Genuity Group reissued a “hold” rating and issued a $91.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 29th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.17.

Insider Transactions at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 2,286 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $90.00, for a total value of $205,740.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,156 shares in the company, valued at approximately $1,454,040. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 2,286 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $90.00, for a total value of $205,740.00. Following the transaction, the chief accounting officer now directly owns 16,156 shares of the company’s stock, valued at $1,454,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Henry J. Fuchs sold 35,341 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $85.18, for a total transaction of $3,010,346.38. Following the transaction, the insider now directly owns 212,117 shares in the company, valued at $18,068,126.06. 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 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.