Clearbridge Investments LLC Lowers Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Clearbridge Investments LLC cut its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 14.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 210,254 shares of the biotechnology company’s stock after selling 35,140 shares during the quarter. Clearbridge Investments LLC’s holdings in BioMarin Pharmaceutical were worth $13,820,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in BMRN. TD Private Client Wealth LLC boosted its position in BioMarin Pharmaceutical by 57.4% during the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 186 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of BioMarin Pharmaceutical in the 4th quarter worth approximately $36,000. CIBC Private Wealth Group LLC grew its position in shares of BioMarin Pharmaceutical by 64.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company’s stock worth $41,000 after buying an additional 233 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of 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 acquiring an additional 466 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in BioMarin Pharmaceutical by 260.1% in the fourth quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company’s stock valued at $67,000 after acquiring an additional 736 shares in the last quarter. 98.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BMRN. Scotiabank upped 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. UBS Group upped their price objective on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Finally, StockNews.com lowered shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $94.00.

Insider Activity

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,344 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $68.38, for a total transaction of $91,902.72. Following the completion of the transaction, the chief accounting officer now directly owns 13,105 shares in the company, valued at approximately $896,119.90. This represents a 9.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Stock Up 0.6 %

BMRN opened at $68.32 on Thursday. The company has a fifty day moving average of $67.88 and a two-hundred day moving average of $67.30. The stock has a market capitalization of $13.03 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 0.61 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a fifty-two week low of $60.63 and a fifty-two week high of $94.85. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly 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. The firm had revenue of $747.31 million during 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%. On average, research analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

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.