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

Pictet Asset Management Holding SA lessened its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 69.0% in the 4th quarter, HoldingsChannel reports. The fund owned 284,700 shares of the biotechnology company’s stock after selling 634,916 shares during the period. Pictet Asset Management Holding SA’s holdings in BioMarin Pharmaceutical were worth $18,713,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. TD Private Client Wealth LLC grew its holdings in BioMarin Pharmaceutical by 57.4% in the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 186 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of BioMarin Pharmaceutical in the 4th quarter worth $36,000. Smartleaf Asset Management LLC grew its stake in BioMarin Pharmaceutical by 111.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company’s stock worth $58,000 after buying an additional 466 shares during the last quarter. UMB Bank n.a. increased its position in BioMarin Pharmaceutical by 260.1% during the 4th quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company’s stock valued at $67,000 after buying an additional 736 shares in the last quarter. Finally, Blue Trust Inc. increased its position in BioMarin Pharmaceutical by 27.5% during the 4th quarter. Blue Trust Inc. now owns 1,095 shares of the biotechnology company’s stock valued at $77,000 after buying an additional 236 shares in the last quarter. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Price Performance

Shares of BioMarin Pharmaceutical stock opened at $67.94 on Wednesday. The firm has a market cap of $12.96 billion, a PE ratio of 30.88, a P/E/G ratio of 0.61 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a twelve month low of $60.63 and a twelve month high of $94.85. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11. The business has a 50-day moving average price of $67.75 and a 200 day moving average price of $67.30.

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

Insider Buying and Selling

In other news, CAO Erin Burkhart sold 1,295 shares of BioMarin Pharmaceutical stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total value of $92,618.40. Following the sale, the chief accounting officer now owns 16,955 shares in the company, valued at $1,212,621.60. This trade represents a 7.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.85% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BMRN shares. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Piper Sandler upped their price target on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. UBS Group lifted their price objective on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. StockNews.com downgraded BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Finally, Scotiabank lifted their price target on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.00.

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.