National Bank of Canada FI Sells 342,304 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

National Bank of Canada FI reduced its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 56.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 268,607 shares of the biotechnology company’s stock after selling 342,304 shares during the quarter. National Bank of Canada FI owned about 0.14% of BioMarin Pharmaceutical worth $26,337,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. KB Financial Partners LLC raised its position in shares of 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 acquiring an additional 118 shares during the last quarter. Lindbrook Capital LLC raised its holdings in BioMarin Pharmaceutical by 259.8% during the 4th quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock worth $37,000 after purchasing an additional 278 shares during the last quarter. Castleview Partners LLC acquired a new position in BioMarin Pharmaceutical during the 3rd quarter valued at about $35,000. Benjamin F. Edwards & Company Inc. lifted its position in BioMarin Pharmaceutical by 135.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 249 shares during the period. Finally, First Horizon Advisors Inc. boosted its stake in shares of BioMarin Pharmaceutical by 33.3% in the 4th quarter. First Horizon Advisors Inc. now owns 576 shares of the biotechnology company’s stock valued at $56,000 after purchasing an additional 144 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, insider Henry J. Fuchs sold 35,341 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $85.18, for a total transaction of $3,010,346.38. Following the completion of the transaction, the insider now directly owns 212,117 shares in the company, valued at $18,068,126.06. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Henry J. Fuchs sold 35,341 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $85.18, for a total value of $3,010,346.38. Following the sale, the insider now directly owns 212,117 shares of the company’s stock, valued at $18,068,126.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP George Eric Davis sold 1,850 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $85.01, for a total transaction of $157,268.50. Following the completion of the transaction, the executive vice president now directly owns 56,157 shares of the company’s stock, valued at approximately $4,773,906.57. The disclosure for this sale can be found here. Insiders have sold a total of 105,079 shares of company stock valued at $9,220,236 over the last three months. 1.85% of the stock is currently owned by insiders.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN opened at $82.10 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.74 and a quick ratio of 1.70. The stock has a market capitalization of $15.59 billion, a price-to-earnings ratio of 76.73, a PEG ratio of 1.30 and a beta of 0.34. The business has a 50-day moving average of $86.73 and a 200-day moving average of $89.02. 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 announced its earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.05. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. The firm had revenue of $646.21 million during the quarter, compared to analyst estimates of $639.53 million. During the same period last year, the firm posted $0.11 EPS. The business’s revenue was up 20.2% compared to the same quarter last year. As a group, sell-side analysts predict that BioMarin Pharmaceutical Inc. will post 1.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BMRN has been the topic of several recent research reports. Piper Sandler reduced their price target on BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. Scotiabank upped their price target on BioMarin Pharmaceutical from $83.00 to $85.00 and gave the company a “sector perform” rating in a research note on Thursday, April 25th. Morgan Stanley reduced their price objective on shares of BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating on the stock in a research note on Friday, April 26th. Citigroup cut their target price on shares of BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Finally, Canaccord Genuity Group dropped their price objective on BioMarin Pharmaceutical from $91.00 to $89.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.50.

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.