BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Freedom Investment Management Inc.

Freedom Investment Management Inc. lessened its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 6.7% during the third quarter, Holdings Channel.com reports. The fund owned 4,838 shares of the biotechnology company’s stock after selling 350 shares during the period. Freedom Investment Management Inc.’s holdings in BioMarin Pharmaceutical were worth $340,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. AGF Management Ltd. bought a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter worth $2,563,000. Susquehanna Fundamental Investments LLC purchased a new position in BioMarin Pharmaceutical during the second quarter valued at approximately $5,627,000. Teachers Retirement System of The State of Kentucky increased its stake in shares of BioMarin Pharmaceutical by 17.4% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 194,207 shares of the biotechnology company’s stock worth $15,990,000 after acquiring an additional 28,837 shares during the last quarter. E Fund Management Co. Ltd. raised its stake in shares of BioMarin Pharmaceutical by 167.4% during the 2nd quarter. E Fund Management Co. Ltd. now owns 13,480 shares of the biotechnology company’s stock worth $1,110,000 after purchasing an additional 8,438 shares in the last quarter. Finally, Tidal Investments LLC raised its position in BioMarin Pharmaceutical by 65.5% during the first quarter. Tidal Investments LLC now owns 17,447 shares of the biotechnology company’s stock valued at $1,524,000 after acquiring an additional 6,906 shares in the last quarter. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Up 0.9 %

Shares of NASDAQ BMRN opened at $66.03 on Friday. BioMarin Pharmaceutical Inc. has a 1 year low of $61.15 and a 1 year high of $99.56. The firm has a market capitalization of $12.58 billion, a PE ratio of 39.54, a price-to-earnings-growth ratio of 0.64 and a beta of 0.31. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The firm’s 50-day moving average is $67.72 and its 200-day moving average is $77.90.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The company had revenue of $746.00 million for the quarter, compared to analyst estimates of $703.37 million. During the same quarter in the previous year, the firm posted $0.26 earnings per share. BioMarin Pharmaceutical’s quarterly revenue was up 28.4% compared to the same quarter last year. Equities analysts expect that BioMarin Pharmaceutical Inc. will post 2.49 EPS for the current year.

Wall Street Analyst Weigh In

BMRN has been the subject of several recent analyst reports. Raymond James reiterated an “outperform” rating and set a $79.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, October 10th. UBS Group boosted their price objective on shares of BioMarin Pharmaceutical from $104.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Truist Financial cut their target price on BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Wedbush upgraded shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research note on Monday, November 4th. Finally, Robert W. Baird cut their price objective on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.20.

Insider Buying and Selling

In other news, EVP Charles Greg Guyer sold 5,278 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total value of $350,300.86. Following the completion of the transaction, the executive vice president now owns 68,909 shares in the company, valued at $4,573,490.33. This represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.85% of the stock is currently owned by company insiders.

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.