Commerce Bank Sells 3,949 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Commerce Bank lessened its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 45.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,707 shares of the biotechnology company’s stock after selling 3,949 shares during the period. Commerce Bank’s holdings in BioMarin Pharmaceutical were worth $331,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Principal Financial Group Inc. grew its position in shares of BioMarin Pharmaceutical by 1,858.6% during the 2nd quarter. Principal Financial Group Inc. now owns 649,460 shares of the biotechnology company’s stock worth $53,470,000 after buying an additional 616,301 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of BioMarin Pharmaceutical by 11,107.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 352,474 shares of the biotechnology company’s stock worth $29,019,000 after buying an additional 349,329 shares in the last quarter. Rhumbline Advisers grew its position in shares of BioMarin Pharmaceutical by 122.1% during the 2nd quarter. Rhumbline Advisers now owns 551,553 shares of the biotechnology company’s stock worth $45,409,000 after buying an additional 303,207 shares in the last quarter. Swedbank AB bought a new position in shares of BioMarin Pharmaceutical during the 1st quarter worth $25,864,000. Finally, Dimensional Fund Advisors LP grew its position in shares of BioMarin Pharmaceutical by 38.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,034,457 shares of the biotechnology company’s stock worth $85,178,000 after buying an additional 289,953 shares in the last quarter. Institutional investors own 98.71% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BMRN. Truist Financial dropped their price target on BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Raymond James reaffirmed an “outperform” rating and set a $79.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, October 10th. Canaccord Genuity Group dropped their price objective on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. William Blair downgraded BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Finally, Bank of America dropped their price objective on BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average target price of $94.20.

Insider Transactions at BioMarin Pharmaceutical

In related news, EVP Charles Greg Guyer sold 5,278 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total transaction of $350,300.86. Following the sale, the executive vice president now directly owns 68,909 shares of the company’s stock, valued at $4,573,490.33. This trade represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Trading Up 0.8 %

Shares of NASDAQ:BMRN opened at $65.42 on Thursday. BioMarin Pharmaceutical Inc. has a 52-week low of $61.15 and a 52-week high of $99.56. The stock has a market cap of $12.47 billion, a price-to-earnings ratio of 39.17, a PEG ratio of 0.64 and a beta of 0.31. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11. The business has a 50-day moving average price of $67.93 and a 200-day moving average price of $78.10.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data 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 firm had revenue of $746.00 million during the quarter, compared to analysts’ expectations of $703.37 million. During the same quarter in the previous year, the business earned $0.26 earnings per share. The company’s revenue for the quarter was up 28.4% compared to the same quarter last year. Equities analysts predict that BioMarin Pharmaceutical Inc. will post 2.49 EPS for the current year.

BioMarin Pharmaceutical Company 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.