Bellevue Group AG Has $28.11 Million Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Bellevue Group AG cut its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 321,787 shares of the biotechnology company’s stock after selling 3,989 shares during the quarter. Bellevue Group AG’s holdings in BioMarin Pharmaceutical were worth $28,105,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in BioMarin Pharmaceutical by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 18,117,108 shares of the biotechnology company’s stock valued at $1,582,348,000 after purchasing an additional 67,046 shares during the period. Capital Research Global Investors increased its position in BioMarin Pharmaceutical by 79.0% in the 4th quarter. Capital Research Global Investors now owns 10,774,641 shares of the biotechnology company’s stock valued at $1,038,907,000 after acquiring an additional 4,756,671 shares in the last quarter. Avoro Capital Advisors LLC increased its position in BioMarin Pharmaceutical by 1.5% in the 1st quarter. Avoro Capital Advisors LLC now owns 4,365,000 shares of the biotechnology company’s stock valued at $381,239,000 after acquiring an additional 65,000 shares in the last quarter. Norges Bank acquired a new stake in BioMarin Pharmaceutical in the 4th quarter valued at about $324,098,000. Finally, Price T Rowe Associates Inc. MD grew its position in shares of BioMarin Pharmaceutical by 33.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,605,983 shares of the biotechnology company’s stock worth $154,850,000 after buying an additional 401,152 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, EVP George Eric Davis sold 1,850 shares of the company’s 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 directly owns 56,157 shares in the company, valued at $4,773,906.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP George Eric Davis sold 1,850 shares of the company’s 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 directly owns 56,157 shares in the company, valued at $4,773,906.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jean Jacques Bienaime sold 20,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were 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 $38,769,010.28. The disclosure for this sale can be found here. Insiders have sold a total of 67,700 shares of company stock worth $5,209,352 over the last ninety days. Insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ:BMRN traded down $1.00 on Friday, hitting $84.59. The company had a trading volume of 1,063,391 shares, compared to its average volume of 1,262,695. BioMarin Pharmaceutical Inc. has a 1-year low of $73.68 and a 1-year high of $99.56. The stock has a market cap of $16.06 billion, a price-to-earnings ratio of 79.06, a P/E/G ratio of 1.20 and a beta of 0.32. The stock has a 50 day moving average price of $81.75 and a 200 day moving average price of $85.40. The company has a current ratio of 2.74, a quick ratio of 1.70 and a debt-to-equity ratio of 0.12.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.37 by $0.12. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.34%. The firm had revenue of $648.83 million for the quarter, compared to the consensus estimate of $649.75 million. Analysts expect that BioMarin Pharmaceutical Inc. will post 2 EPS for the current year.

Wall Street Analysts Forecast Growth

BMRN has been the subject of several analyst reports. StockNews.com cut shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd. Baird R W lowered shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 17th. Canaccord Genuity Group reissued a “hold” rating and issued a $89.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday. Evercore ISI initiated coverage on shares of BioMarin Pharmaceutical in a research report on Tuesday, May 14th. They issued an “outperform” rating and a $113.00 price objective on the stock. Finally, Wells Fargo & Company upped their price target on shares of BioMarin Pharmaceutical from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.00.

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.