Clearbridge Investments LLC Decreases Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Clearbridge Investments LLC lowered its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 37.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 270,843 shares of the biotechnology company’s stock after selling 160,576 shares during the quarter. Clearbridge Investments LLC’s holdings in BioMarin Pharmaceutical were worth $26,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of BioMarin Pharmaceutical by 174.8% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,543 shares of the biotechnology company’s stock worth $824,000 after purchasing an additional 5,434 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in BioMarin Pharmaceutical during the fourth quarter valued at $805,000. Norges Bank purchased a new stake in BioMarin Pharmaceutical during the fourth quarter valued at $324,098,000. ING Groep NV bought a new stake in BioMarin Pharmaceutical during the fourth quarter valued at about $20,248,000. Finally, New Century Financial Group LLC bought a new stake in BioMarin Pharmaceutical during the fourth quarter valued at about $455,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Down 0.7 %

BioMarin Pharmaceutical stock opened at $75.90 on Friday. 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 $14.41 billion, a price-to-earnings ratio of 70.94, a PEG ratio of 1.09 and a beta of 0.34. BioMarin Pharmaceutical Inc. has a 1-year low of $75.03 and a 1-year high of $99.56. The business has a fifty day moving average price of $84.80 and a 200-day moving average price of $88.69.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.12. The firm had revenue of $648.83 million during the quarter, compared to analysts’ expectations of $649.75 million. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. Equities research analysts forecast that BioMarin Pharmaceutical Inc. will post 1.99 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Jean Jacques Bienaime sold 20,000 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $81.62, for a total value of $1,632,400.00. Following the completion of the transaction, the director now owns 474,994 shares in the company, valued at approximately $38,769,010.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other BioMarin Pharmaceutical news, Director Jean Jacques Bienaime sold 20,000 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $81.62, for a total transaction of $1,632,400.00. Following the completion of the transaction, the director now owns 474,994 shares in the company, valued at approximately $38,769,010.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP George Eric Davis sold 1,850 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $85.01, for a total value of $157,268.50. Following the transaction, the executive vice president now 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 sold 110,079 shares of company stock worth $9,528,436 in the last 90 days. Insiders own 1.85% of the company’s stock.

Analyst Upgrades and Downgrades

BMRN has been the subject of several recent research reports. Morgan Stanley cut their price target on BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating for the company in a report on Friday, April 26th. Scotiabank upped their price objective on BioMarin Pharmaceutical from $83.00 to $85.00 and gave the company a “sector perform” rating in a research report on Thursday, April 25th. Citigroup decreased their price objective on BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Royal Bank of Canada restated a “sector perform” rating and set a $100.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Finally, Wells Fargo & Company increased their price target on BioMarin Pharmaceutical from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average price target of $106.11.

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.