Price T Rowe Associates Inc. MD Has $38.94 Million Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Price T Rowe Associates Inc. MD reduced its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 10.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 592,393 shares of the biotechnology company’s stock after selling 71,162 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.31% of BioMarin Pharmaceutical worth $38,939,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Stifel Financial Corp raised its holdings in shares of BioMarin Pharmaceutical by 4.5% in the 4th quarter. Stifel Financial Corp now owns 31,897 shares of the biotechnology company’s stock valued at $2,097,000 after purchasing an additional 1,360 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of BioMarin Pharmaceutical by 376.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 16,992 shares of the biotechnology company’s stock valued at $1,117,000 after buying an additional 13,426 shares during the last quarter. MetLife Investment Management LLC boosted its stake in shares of BioMarin Pharmaceutical by 9.2% during the 4th quarter. MetLife Investment Management LLC now owns 107,403 shares of the biotechnology company’s stock worth $7,060,000 after acquiring an additional 9,031 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of BioMarin Pharmaceutical by 6.5% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 28,061 shares of the biotechnology company’s stock worth $1,844,000 after acquiring an additional 1,704 shares during the last quarter. Finally, Capital Research Global Investors raised its stake in BioMarin Pharmaceutical by 23.8% in the 4th quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company’s stock valued at $853,944,000 after acquiring an additional 2,496,817 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. StockNews.com upgraded BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a report on Friday, April 25th. Bank of America increased their target price on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, Piper Sandler upped their price objective on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $93.14.

Insider Activity

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,295 shares of the business’s stock in a transaction that occurred 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 $1,212,621.60. The trade was a 7.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.85% of the stock is currently owned by insiders.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN opened at $63.28 on Wednesday. The firm has a 50 day simple moving average of $66.24 and a 200 day simple moving average of $65.90. The company has a market cap of $12.07 billion, a price-to-earnings ratio of 28.76, a PEG ratio of 0.61 and a beta of 0.30. BioMarin Pharmaceutical Inc. has a one year low of $52.93 and a one 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 for the quarter, topping analysts’ consensus estimates of $0.54 by $0.18. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. The business had revenue of $747.31 million for the quarter, compared to analyst estimates of $711.05 million. Research analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal year.

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.