Park Avenue Securities LLC Decreases Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Park Avenue Securities LLC lessened its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 25.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,620 shares of the biotechnology company’s stock after selling 1,578 shares during the quarter. Park Avenue Securities LLC’s holdings in BioMarin Pharmaceutical were worth $403,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of BioMarin Pharmaceutical by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 18,050,062 shares of the biotechnology company’s stock worth $1,740,387,000 after purchasing an additional 348,852 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of BioMarin Pharmaceutical by 79.0% during the fourth 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 during the last quarter. Ameriprise Financial Inc. lifted its position in shares of BioMarin Pharmaceutical by 5.6% in the third quarter. Ameriprise Financial Inc. now owns 5,163,949 shares of the biotechnology company’s stock valued at $456,906,000 after acquiring an additional 275,436 shares in the last quarter. Avoro Capital Advisors LLC boosted its stake in shares of BioMarin Pharmaceutical by 11.7% in the fourth quarter. Avoro Capital Advisors LLC now owns 4,300,000 shares of the biotechnology company’s stock worth $414,606,000 after acquiring an additional 450,000 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of BioMarin Pharmaceutical in the fourth quarter worth approximately $324,098,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at BioMarin Pharmaceutical

In related news, CFO Brian Mueller sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $75.19, for a total transaction of $375,950.00. Following the sale, the chief financial officer now directly owns 72,159 shares of the company’s stock, valued at approximately $5,425,635.21. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other BioMarin Pharmaceutical news, CFO Brian Mueller sold 5,000 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $75.19, for a total value of $375,950.00. Following the sale, the chief financial officer now owns 72,159 shares of the company’s stock, valued at approximately $5,425,635.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Erin Burkhart sold 2,286 shares of BioMarin Pharmaceutical stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $90.00, for a total value of $205,740.00. Following the completion of the transaction, the chief accounting officer now owns 16,156 shares of the company’s stock, valued at approximately $1,454,040. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,986 shares of company stock valued at $7,240,292. 1.85% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on BMRN shares. Scotiabank raised their price objective on BioMarin Pharmaceutical from $83.00 to $85.00 and gave the company a “sector perform” rating in a report on Thursday, April 25th. 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $110.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, April 25th. Evercore ISI initiated coverage on shares of BioMarin Pharmaceutical in a research note on Tuesday, May 14th. They issued an “outperform” rating and a $113.00 target price on the stock. Finally, Robert W. Baird lowered BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $104.00 to $72.00 in a research report on Friday, May 17th. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $106.37.

BioMarin Pharmaceutical Stock Down 1.4 %

NASDAQ:BMRN opened at $82.33 on Friday. BioMarin Pharmaceutical Inc. has a 52 week low of $73.68 and a 52 week high of $99.56. The stock’s fifty day moving average is $81.37 and its two-hundred day moving average is $87.31. The stock has a market capitalization of $15.63 billion, a price-to-earnings ratio of 76.94, a price-to-earnings-growth ratio of 1.19 and a beta of 0.31. The company has a quick ratio of 1.70, a current ratio of 2.74 and a debt-to-equity ratio of 0.12.

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

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.