Linden Thomas Advisory Services LLC Reduces Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Linden Thomas Advisory Services LLC lowered its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 0.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 17,883 shares of the biotechnology company’s stock after selling 166 shares during the period. Linden Thomas Advisory Services LLC’s holdings in BioMarin Pharmaceutical were worth $1,724,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. KB Financial Partners LLC increased its position in BioMarin Pharmaceutical by 51.3% in the 3rd quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 118 shares during the period. Lindbrook Capital LLC increased its stake in shares of BioMarin Pharmaceutical by 259.8% during the fourth quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock valued at $37,000 after acquiring an additional 278 shares during the period. Castleview Partners LLC bought a new stake in BioMarin Pharmaceutical during the third quarter worth approximately $35,000. Allworth Financial LP boosted its stake in shares of BioMarin Pharmaceutical by 54.9% during the 4th quarter. Allworth Financial LP now owns 604 shares of the biotechnology company’s stock valued at $58,000 after buying an additional 214 shares during the period. Finally, Signaturefd LLC raised its holdings in BioMarin Pharmaceutical by 17.9% in the 3rd quarter. Signaturefd LLC now owns 1,283 shares of the biotechnology company’s stock worth $114,000 after acquiring an additional 195 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Trading Down 0.9 %

BMRN traded down $0.81 during mid-day trading on Wednesday, hitting $91.25. 477,888 shares of the stock were exchanged, compared to its average volume of 1,340,837. The firm’s fifty day moving average is $87.76 and its two-hundred day moving average is $89.21. BioMarin Pharmaceutical Inc. has a 1-year low of $76.02 and a 1-year high of $99.56. The company has a current ratio of 2.51, a quick ratio of 1.57 and a debt-to-equity ratio of 0.12. The company has a market cap of $17.22 billion, a PE ratio of 104.61, a PEG ratio of 1.65 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.05. BioMarin Pharmaceutical had a return on equity of 5.01% and a net margin of 6.93%. The firm had revenue of $646.21 million for the quarter, compared to analyst estimates of $639.53 million. During the same quarter in the prior year, the company earned $0.11 EPS. BioMarin Pharmaceutical’s revenue was up 20.2% on a year-over-year basis. Equities analysts forecast that BioMarin Pharmaceutical Inc. will post 1.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

BMRN has been the topic of a number of recent analyst reports. Piper Sandler reduced their price target on shares of BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $100.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Robert W. Baird decreased their price target on shares of BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating on the stock in a report on Tuesday, January 30th. Canaccord Genuity Group reiterated a “hold” rating and set a $91.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 29th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 target price on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $107.61.

Insiders Place Their Bets

In other news, CAO Erin Burkhart sold 2,286 shares of the stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $90.00, for a total value of $205,740.00. Following the transaction, the chief accounting officer now owns 16,156 shares in the company, valued at approximately $1,454,040. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Jean Jacques Bienaime sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $90.35, for a total value of $90,350.00. Following the completion of the sale, the director now directly owns 562,203 shares of the company’s stock, valued at approximately $50,795,041.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Erin Burkhart sold 2,286 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $90.00, for a total value of $205,740.00. Following the completion of the sale, the chief accounting officer now directly owns 16,156 shares of the company’s stock, valued at $1,454,040. The disclosure for this sale can be found here. Insiders have sold a total of 103,229 shares of company stock worth $9,062,967 in the last quarter. 1.84% of the stock is owned by company insiders.

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.