Mitsubishi UFJ Trust & Banking Corp Lowers Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Mitsubishi UFJ Trust & Banking Corp lowered its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 26.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 154,835 shares of the biotechnology company’s stock after selling 55,073 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.08% of BioMarin Pharmaceutical worth $10,177,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Daiwa Securities Group Inc. raised its holdings in shares of BioMarin Pharmaceutical by 7.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 18,006 shares of the biotechnology company’s stock valued at $1,266,000 after purchasing an additional 1,185 shares in the last quarter. FMR LLC increased its holdings in BioMarin Pharmaceutical by 21.7% during the third quarter. FMR LLC now owns 206,538 shares of the biotechnology company’s stock valued at $14,518,000 after buying an additional 36,877 shares during the period. Quantbot Technologies LP purchased a new stake in BioMarin Pharmaceutical during the third quarter worth $171,000. Glenmede Trust Co. NA purchased a new stake in BioMarin Pharmaceutical during the third quarter worth $254,000. Finally, Rockefeller Capital Management L.P. boosted its position in BioMarin Pharmaceutical by 16.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 266,633 shares of the biotechnology company’s stock valued at $18,742,000 after acquiring an additional 37,805 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Trading Down 1.9 %

Shares of BioMarin Pharmaceutical stock opened at $71.44 on Friday. The stock has a market cap of $13.63 billion, a PE ratio of 32.47, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33. The firm has a fifty day moving average price of $67.46 and a 200 day moving average price of $67.63. BioMarin Pharmaceutical Inc. has a 1 year low of $60.63 and a 1 year high of $94.85. 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 (NASDAQ:BMRN) last issued its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.18. The business had revenue of $747.31 million during the quarter, compared to analysts’ expectations of $711.05 million. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. Equities research analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Insider Transactions at BioMarin Pharmaceutical

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Piper Sandler upped their price objective on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. 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 report on Thursday, February 20th. Oppenheimer raised shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 target price for the company in a research report on Monday, February 24th. Finally, StockNews.com upgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 18th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.00.

About BioMarin Pharmaceutical

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.