Pictet Asset Management Holding SA Sells 634,916 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Pictet Asset Management Holding SA cut its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 69.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 284,700 shares of the biotechnology company’s stock after selling 634,916 shares during the period. Pictet Asset Management Holding SA owned 0.15% of BioMarin Pharmaceutical worth $18,713,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC boosted its position in shares of BioMarin Pharmaceutical by 21.7% during the third quarter. FMR LLC now owns 206,538 shares of the biotechnology company’s stock worth $14,518,000 after acquiring an additional 36,877 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of BioMarin Pharmaceutical during the 3rd quarter valued at about $171,000. Glenmede Trust Co. NA bought a new position in shares of BioMarin Pharmaceutical during the 3rd quarter valued at about $254,000. Captrust Financial Advisors grew its position in shares of BioMarin Pharmaceutical by 34.1% during the third quarter. Captrust Financial Advisors now owns 10,900 shares of the biotechnology company’s stock valued at $766,000 after purchasing an additional 2,770 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new stake in shares of BioMarin Pharmaceutical in the third quarter worth about $2,008,000. 98.71% of the stock is currently owned by institutional investors.

Insider Transactions at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,295 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total value of $92,618.40. Following the completion of the transaction, the chief accounting officer now owns 16,955 shares of the company’s stock, valued at $1,212,621.60. The trade was a 7.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.85% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. UBS Group raised their target price on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Scotiabank upped their price target on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, February 20th. Bank of America lifted their price objective on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, Oppenheimer upgraded shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 target price on the stock in a research report on Monday, February 24th. Seven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average target price of $94.00.

BioMarin Pharmaceutical Trading Down 3.9 %

Shares of NASDAQ BMRN opened at $67.94 on Wednesday. BioMarin Pharmaceutical Inc. has a twelve month low of $60.63 and a twelve month high of $94.85. The firm has a market cap of $12.96 billion, a PE ratio of 30.88, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33. The business has a fifty day simple moving average of $67.75 and a two-hundred day simple moving average of $67.30. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11.

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

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.