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

National Pension Service reduced its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 96.0% during the 4th quarter, HoldingsChannel reports. The fund 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 reporting period.

Several other hedge funds have also modified their holdings of the company. Los Angeles Capital Management LLC boosted its stake in shares of BioMarin Pharmaceutical by 281.6% during the 4th quarter. Los Angeles Capital Management LLC now owns 38,529 shares of the biotechnology company’s stock worth $2,533,000 after acquiring an additional 28,431 shares in the last quarter. Amalgamated Bank boosted its stake in shares of BioMarin Pharmaceutical by 0.4% during the 4th quarter. Amalgamated Bank now owns 91,048 shares of the biotechnology company’s stock worth $5,985,000 after acquiring an additional 382 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of BioMarin Pharmaceutical by 75.5% during the 4th quarter. IFP Advisors Inc now owns 4,131 shares of the biotechnology company’s stock worth $272,000 after acquiring an additional 1,777 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of BioMarin Pharmaceutical by 5.7% during the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 77,269 shares of the biotechnology company’s stock worth $5,079,000 after acquiring an additional 4,200 shares in the last quarter. Finally, Ieq Capital LLC boosted its stake in shares of BioMarin Pharmaceutical by 744.8% during the 4th quarter. Ieq Capital LLC now owns 60,287 shares of the biotechnology company’s stock worth $3,963,000 after acquiring an additional 53,151 shares in the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,344 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $68.38, for a total value of $91,902.72. Following the completion of the sale, the chief accounting officer now owns 13,105 shares in the company, valued at approximately $896,119.90. This trade represents a 9.30 % decrease in their position. The transaction 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 Stock Up 3.0 %

Shares of NASDAQ BMRN opened at $71.16 on Friday. The company has a 50 day simple moving average of $65.30 and a 200-day simple moving average of $70.19. The company has a market capitalization of $13.58 billion, a P/E ratio of 32.35, a P/E/G ratio of 0.61 and a beta of 0.28. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. BioMarin Pharmaceutical Inc. has a 1 year low of $60.63 and a 1 year high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results 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 net margin of 14.96% and a return on equity of 9.91%. The firm had revenue of $747.31 million during the quarter, compared to the consensus estimate of $711.05 million. On average, equities research analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Wall Street Analyst Weigh In

BMRN has been the topic of several recent analyst reports. Bank of America increased their target price 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. UBS Group raised their price target on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. StockNews.com lowered shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Citigroup raised their price target on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $94.00.

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.