New Century Financial Group LLC Has $251,000 Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

New Century Financial Group LLC lowered its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 39.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,871 shares of the biotechnology company’s stock after selling 1,851 shares during the quarter. New Century Financial Group LLC’s holdings in BioMarin Pharmaceutical were worth $251,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of BMRN. Stifel Financial Corp raised its holdings in shares of BioMarin Pharmaceutical by 18.5% during the third quarter. Stifel Financial Corp now owns 45,208 shares of the biotechnology company’s stock worth $4,000,000 after acquiring an additional 7,043 shares in the last quarter. Federated Hermes Inc. acquired a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter valued at about $1,007,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter valued at about $259,000. Gotham Asset Management LLC bought a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter valued at approximately $359,000. Finally, Advisors Asset Management Inc. increased its holdings in BioMarin Pharmaceutical by 6.4% in the third quarter. Advisors Asset Management Inc. now owns 10,133 shares of the biotechnology company’s stock worth $897,000 after buying an additional 612 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Down 1.5 %

Shares of NASDAQ:BMRN opened at $80.98 on Friday. The business’s 50 day moving average is $80.79 and its 200 day moving average is $86.93. BioMarin Pharmaceutical Inc. has a 12-month low of $73.68 and a 12-month high of $99.56. The stock has a market cap of $15.38 billion, a price-to-earnings ratio of 75.68, a PEG ratio of 1.15 and a beta of 0.32. 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 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. The firm had revenue of $648.83 million during the quarter, compared to analyst estimates of $649.75 million. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.34%. On average, sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 1.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on BMRN. Evercore ISI assumed coverage on BioMarin Pharmaceutical in a report on Tuesday, May 14th. They set an “outperform” rating and a $113.00 price target on the stock. Citigroup dropped their target price on shares of BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Baird R W cut shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a report on Friday, May 17th. Scotiabank lifted their price objective on BioMarin Pharmaceutical from $83.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 25th. Finally, Robert W. Baird cut BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $104.00 to $72.00 in a research report on Friday, May 17th. Nine 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 company currently has a consensus rating of “Moderate Buy” and an average target price of $106.37.

Insider Transactions at BioMarin Pharmaceutical

In related news, Director Jean Jacques Bienaime sold 20,000 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $91.26, for a total transaction of $1,825,200.00. Following the sale, the director now owns 474,994 shares of the company’s stock, valued at approximately $43,347,952.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Jean Jacques Bienaime sold 20,000 shares of the company’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $91.26, for a total value of $1,825,200.00. Following the transaction, the director now owns 474,994 shares of the company’s stock, valued at $43,347,952.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP George Eric Davis sold 1,850 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $85.01, for a total value of $157,268.50. Following the completion of the transaction, the executive vice president now owns 56,157 shares in the company, valued at $4,773,906.57. The disclosure for this sale can be found here. Insiders sold 89,986 shares of company stock worth $7,240,292 over the last quarter. Corporate insiders own 1.85% of the company’s stock.

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.