Ellevest Inc. Decreases Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Posted by Defense World Staff on Apr 28th, 2023

Ellevest Inc. cut its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Get Rating) by 38.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 380 shares of the biotechnology company’s stock after selling 242 shares during the quarter. Ellevest Inc.’s holdings in BioMarin Pharmaceutical were worth $39,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Xponance Inc. boosted its stake in shares of BioMarin Pharmaceutical by 3.2% in the third quarter. Xponance Inc. now owns 3,584 shares of the biotechnology company’s stock valued at $304,000 after purchasing an additional 112 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in BioMarin Pharmaceutical by 0.8% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,473 shares of the biotechnology company’s stock valued at $1,227,000 after acquiring an additional 117 shares in the last quarter. CWM LLC raised its holdings in BioMarin Pharmaceutical by 19.1% in the third quarter. CWM LLC now owns 930 shares of the biotechnology company’s stock valued at $79,000 after acquiring an additional 149 shares in the last quarter. MML Investors Services LLC raised its holdings in BioMarin Pharmaceutical by 2.9% in the third quarter. MML Investors Services LLC now owns 5,926 shares of the biotechnology company’s stock valued at $502,000 after acquiring an additional 165 shares in the last quarter. Finally, Private Advisor Group LLC raised its holdings in BioMarin Pharmaceutical by 6.3% in the third quarter. Private Advisor Group LLC now owns 3,021 shares of the biotechnology company’s stock valued at $256,000 after acquiring an additional 180 shares in the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on BMRN. StockNews.com started coverage on shares of BioMarin Pharmaceutical in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Stifel Nicolaus increased their target price on shares of BioMarin Pharmaceutical from $114.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, February 28th. Bank of America increased their price objective on shares of BioMarin Pharmaceutical to $200.00 in a report on Wednesday, January 4th. Wedbush dropped their price objective on shares of BioMarin Pharmaceutical from $83.00 to $74.00 and set a “neutral” rating on the stock in a report on Tuesday, February 28th. Finally, Guggenheim dropped their price objective on shares of BioMarin Pharmaceutical from $125.00 to $120.00 in a report on Thursday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $118.65.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $92.45 on Friday. BioMarin Pharmaceutical Inc. has a one year low of $70.73 and a one year high of $117.77. The company has a 50-day moving average of $96.86 and a two-hundred day moving average of $99.16. The stock has a market cap of $17.34 billion, a price-to-earnings ratio of 124.93 and a beta of 0.38. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.67 and a quick ratio of 3.15.

BioMarin Pharmaceutical (NASDAQ:BMRN – Get Rating) last announced its earnings results on Monday, February 27th. The biotechnology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.01). BioMarin Pharmaceutical had a return on equity of 3.73% and a net margin of 6.75%. The firm had revenue of $537.54 million during the quarter, compared to analyst estimates of $533.88 million. On average, equities research analysts expect that BioMarin Pharmaceutical Inc. will post 1.17 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Jean Jacques Bienaime sold 8,000 shares of the stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $90.45, for a total value of $723,600.00. Following the completion of the sale, the chief executive officer now directly owns 487,856 shares of the company’s stock, valued at $44,126,575.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Jean Jacques Bienaime sold 8,000 shares of the stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $90.45, for a total value of $723,600.00. Following the completion of the sale, the chief executive officer now directly owns 487,856 shares of the company’s stock, valued at $44,126,575.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director V Bryan Lawlis sold 8,500 shares of the stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $97.09, for a total transaction of $825,265.00. Following the completion of the sale, the director now directly owns 28,950 shares of the company’s stock, valued at $2,810,755.50. The disclosure for this sale can be found here. Insiders sold a total of 72,500 shares of company stock worth $7,196,515 over the last ninety days. 1.75% of the stock is currently owned by company insiders.

BioMarin Pharmaceutical Company Profile

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BioMarin Pharmaceutical, Inc engages in the development and commercialization of therapies for people with serious and life-threatening rare diseases and medical conditions. Its pipeline products include Valoctocogene roxaparvovec, Vosoritide, and BMN 307. The company was founded by John C. Klock, Christopher M.