National Pension Service Lowers Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

National Pension Service decreased its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 96.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,878 shares of the biotechnology company’s stock after selling 331,509 shares during the period. National Pension Service’s holdings in BioMarin Pharmaceutical were worth $912,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Primecap Management Co. CA boosted its holdings in shares of BioMarin Pharmaceutical by 0.4% in the third quarter. Primecap Management Co. CA now owns 18,867,435 shares of the biotechnology company’s stock valued at $1,326,192,000 after purchasing an additional 77,350 shares during the period. Geode Capital Management LLC boosted its holdings in shares of BioMarin Pharmaceutical by 1.9% in the third quarter. Geode Capital Management LLC now owns 3,260,050 shares of the biotechnology company’s stock valued at $228,632,000 after purchasing an additional 60,692 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of BioMarin Pharmaceutical by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,401,628 shares of the biotechnology company’s stock valued at $98,520,000 after purchasing an additional 55,699 shares during the period. abrdn plc boosted its holdings in shares of BioMarin Pharmaceutical by 31.9% in the fourth quarter. abrdn plc now owns 695,802 shares of the biotechnology company’s stock valued at $45,735,000 after purchasing an additional 168,121 shares during the period. Finally, Erste Asset Management GmbH purchased a new stake in BioMarin Pharmaceutical during the third quarter worth $48,527,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BMRN shares. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Wedbush restated an “outperform” rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Piper Sandler upped their target price on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. StockNews.com lowered BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a report on Sunday. Finally, Citigroup upped their target price on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $94.00.

BioMarin Pharmaceutical Price Performance

NASDAQ BMRN opened at $71.16 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. The stock’s fifty day moving average price is $65.30 and its 200 day moving average price is $70.19. BioMarin Pharmaceutical Inc. has a 1 year low of $60.63 and a 1 year high of $94.85. The company has a market cap of $13.58 billion, a price-to-earnings ratio of 32.35, a PEG ratio of 0.61 and a beta of 0.28.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.18. The firm had revenue of $747.31 million for the quarter, compared to the consensus estimate of $711.05 million. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. As a group, equities research analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,344 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $68.38, for a total transaction of $91,902.72. Following the sale, the chief accounting officer now directly owns 13,105 shares of the company’s stock, valued at approximately $896,119.90. This trade represents a 9.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.85% of the stock is owned by insiders.

BioMarin Pharmaceutical Company 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.