AGF Management Ltd. Sells 1,194,524 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

AGF Management Ltd. lowered its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 96.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 39,932 shares of the biotechnology company’s stock after selling 1,194,524 shares during the quarter. AGF Management Ltd.’s holdings in BioMarin Pharmaceutical were worth $2,625,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of BMRN. Daiwa Securities Group Inc. raised its stake in BioMarin Pharmaceutical by 25.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 22,615 shares of the biotechnology company’s stock worth $1,487,000 after buying an additional 4,609 shares in the last quarter. AlphaQuest LLC increased its holdings in shares of BioMarin Pharmaceutical by 137.8% in the 4th quarter. AlphaQuest LLC now owns 10,311 shares of the biotechnology company’s stock valued at $678,000 after acquiring an additional 5,975 shares during the period. Edgestream Partners L.P. raised its position in shares of BioMarin Pharmaceutical by 407.7% in the 4th quarter. Edgestream Partners L.P. now owns 144,996 shares of the biotechnology company’s stock worth $9,531,000 after acquiring an additional 116,434 shares in the last quarter. Callan Family Office LLC purchased a new stake in shares of BioMarin Pharmaceutical during the 4th quarter worth $491,000. Finally, E Fund Management Co. Ltd. boosted its position in BioMarin Pharmaceutical by 13.0% during the fourth quarter. E Fund Management Co. Ltd. now owns 14,462 shares of the biotechnology company’s stock valued at $951,000 after purchasing an additional 1,666 shares in the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Insider Transactions at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,344 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $68.38, for a total value of $91,902.72. Following the completion of the sale, the chief accounting officer now 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.85% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Scotiabank boosted their price objective on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 20th. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Oppenheimer upgraded BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 target price on the stock in a research note on Monday, February 24th. Citigroup increased their price target on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Finally, Wolfe Research started coverage on BioMarin Pharmaceutical in a research note on Friday, November 15th. They set an “outperform” rating and a $95.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.00.

BioMarin Pharmaceutical Stock Up 0.1 %

BMRN opened at $70.60 on Friday. The company has a fifty day moving average of $66.16 and a two-hundred day moving average of $69.10. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33. BioMarin Pharmaceutical Inc. has a fifty-two week low of $60.63 and a fifty-two week high of $94.85. The stock has a market capitalization of $13.47 billion, a price-to-earnings ratio of 32.09, a PEG ratio of 0.61 and a beta of 0.33.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.18. The company had revenue of $747.31 million during the quarter, compared to analysts’ expectations of $711.05 million. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. On average, research analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share 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.