EverSource Wealth Advisors LLC Sells 6,469 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

EverSource Wealth Advisors LLC lowered its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 91.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 634 shares of the biotechnology company’s stock after selling 6,469 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in BioMarin Pharmaceutical were worth $42,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. TD Private Client Wealth LLC lifted its stake in BioMarin Pharmaceutical by 57.4% in the 3rd 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 during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of BioMarin Pharmaceutical during the fourth quarter worth $36,000. Meeder Asset Management Inc. lifted its stake in shares of BioMarin Pharmaceutical by 920.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock valued at $52,000 after acquiring an additional 663 shares during the last quarter. True Wealth Design LLC boosted its holdings in shares of BioMarin Pharmaceutical by 13,400.0% during the 3rd quarter. True Wealth Design LLC now owns 810 shares of the biotechnology company’s stock valued at $57,000 after acquiring an additional 804 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in 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 during the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on BMRN. Bank of America increased their target price on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Piper Sandler lifted their target price on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Oppenheimer upgraded shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price target for the company in a research report on Monday, February 24th. Citigroup lifted their price target on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Finally, UBS Group increased their price objective on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and an average price target of $94.00.

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,344 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $68.38, for a total transaction of $91,902.72. Following the completion of the sale, the chief accounting officer now directly owns 13,105 shares of the company’s stock, valued at approximately $896,119.90. The trade was a 9.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.85% of the stock is owned by insiders.

BioMarin Pharmaceutical Trading Up 0.4 %

NASDAQ BMRN opened at $71.60 on Friday. BioMarin Pharmaceutical Inc. has a 52 week low of $60.63 and a 52 week high of $94.85. The business has a 50 day moving average price of $66.50 and a 200-day moving average price of $68.42. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11. The company has a market cap of $13.66 billion, a price-to-earnings ratio of 32.55, a P/E/G ratio of 0.61 and a beta of 0.33.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.18. The firm had revenue of $747.31 million for the quarter, compared to the consensus estimate of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. As a group, equities analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal 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.