Investment Management Corp of Ontario Sells 1,000 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Investment Management Corp of Ontario cut its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 15.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,300 shares of the biotechnology company’s stock after selling 1,000 shares during the period. Investment Management Corp of Ontario’s holdings in BioMarin Pharmaceutical were worth $348,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at about $36,000. CIBC Private Wealth Group LLC increased its position in BioMarin Pharmaceutical by 64.2% during the fourth 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 boosted its holdings in shares of BioMarin Pharmaceutical by 111.2% during the fourth 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 period. UMB Bank n.a. boosted its holdings in shares of BioMarin Pharmaceutical by 260.1% during the fourth quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company’s stock worth $67,000 after acquiring an additional 736 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of BioMarin Pharmaceutical by 27.5% during the fourth quarter. Blue Trust Inc. now owns 1,095 shares of the biotechnology company’s stock worth $77,000 after acquiring an additional 236 shares during the period. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Price Performance

Shares of BMRN stock opened at $59.78 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. The company has a market capitalization of $11.46 billion, a P/E ratio of 27.17, a P/E/G ratio of 0.61 and a beta of 0.27. The company’s 50-day simple moving average is $64.40 and its two-hundred day simple moving average is $65.26. BioMarin Pharmaceutical Inc. has a one year low of $52.93 and a one year high of $94.85.

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, topping the consensus estimate of $0.54 by $0.18. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. The firm had revenue of $747.31 million during the quarter, compared to analysts’ expectations of $711.05 million. As a group, equities analysts anticipate that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

Insider Activity at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,295 shares of BioMarin Pharmaceutical stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total value of $92,618.40. Following the sale, the chief accounting officer now owns 16,955 shares in the company, valued at $1,212,621.60. This trade represents a 7.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 2,912 shares of company stock worth $202,244. 0.85% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Citigroup cut their price target on BioMarin Pharmaceutical from $82.00 to $78.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. StockNews.com upgraded BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 25th. Piper Sandler increased 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Finally, Bank of America increased their price target on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $93.45.

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.