BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by New Century Financial Group LLC

New Century Financial Group LLC reduced its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 39.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,871 shares of the biotechnology company’s stock after selling 1,851 shares during the quarter. New Century Financial Group LLC’s holdings in BioMarin Pharmaceutical were worth $251,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMRN. Allspring Global Investments Holdings LLC grew its stake in shares of BioMarin Pharmaceutical by 7,368.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 60,571 shares of the biotechnology company’s stock valued at $5,840,000 after buying an additional 59,760 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of BioMarin Pharmaceutical during the fourth quarter valued at approximately $3,598,000. Nordea Investment Management AB lifted its position in shares of BioMarin Pharmaceutical by 4.9% during the fourth quarter. Nordea Investment Management AB now owns 11,594 shares of the biotechnology company’s stock worth $1,121,000 after purchasing an additional 544 shares in the last quarter. ING Groep NV acquired a new position in shares of BioMarin Pharmaceutical during the fourth quarter worth $20,248,000. Finally, Fisher Asset Management LLC purchased a new position in shares of BioMarin Pharmaceutical in the fourth quarter valued at $1,301,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

BMRN opened at $80.98 on Friday. BioMarin Pharmaceutical Inc. has a 12-month low of $73.68 and a 12-month high of $99.56. The firm has a market capitalization of $15.38 billion, a P/E ratio of 75.68, a price-to-earnings-growth ratio of 1.15 and a beta of 0.32. The stock’s 50 day moving average price is $80.79 and its two-hundred day moving average price is $86.93. The company has a quick ratio of 1.70, a current ratio of 2.74 and a debt-to-equity ratio of 0.12.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.12. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.34%. The firm had revenue of $648.83 million during the quarter, compared to the consensus estimate of $649.75 million. On average, equities analysts forecast that BioMarin Pharmaceutical Inc. will post 1.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BMRN shares. Canaccord Genuity Group lowered their target price on BioMarin Pharmaceutical from $91.00 to $89.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Morgan Stanley dropped their price objective on BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating on the stock in a report on Friday, April 26th. Wells Fargo & Company upped their target price on BioMarin Pharmaceutical from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Baird R W downgraded shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 17th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $110.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, April 25th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and a consensus price target of $106.37.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, CFO Brian Mueller sold 5,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $75.19, for a total value of $375,950.00. Following the completion of the transaction, the chief financial officer now directly owns 72,159 shares of the company’s stock, valued at $5,425,635.21. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP George Eric Davis sold 40,850 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $74.51, for a total value of $3,043,733.50. Following the completion of the transaction, the executive vice president now directly owns 56,157 shares of the company’s stock, valued at approximately $4,184,258.07. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brian Mueller sold 5,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $75.19, for a total transaction of $375,950.00. Following the completion of the transaction, the chief financial officer now directly owns 72,159 shares of the company’s stock, valued at $5,425,635.21. The disclosure for this sale can be found here. Insiders sold a total of 89,986 shares of company stock valued at $7,240,292 in the last quarter. Corporate insiders own 1.85% of the company’s stock.

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.