Griffin Asset Management Inc. Has $358,000 Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Griffin Asset Management Inc. decreased its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRNGet Rating) by 61.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,640 shares of the biotechnology company’s stock after selling 7,330 shares during the quarter. Griffin Asset Management Inc.’s holdings in BioMarin Pharmaceutical were worth $358,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in BioMarin Pharmaceutical by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 2,399,343 shares of the biotechnology company’s stock worth $211,671,000 after buying an additional 76,459 shares in the last quarter. Norges Bank acquired a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at $207,582,000. Adage Capital Partners GP L.L.C. lifted its stake in shares of BioMarin Pharmaceutical by 372.7% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,865,000 shares of the biotechnology company’s stock valued at $164,773,000 after purchasing an additional 1,470,498 shares during the period. Northern Trust Corp lifted its stake in shares of BioMarin Pharmaceutical by 0.6% in the 4th quarter. Northern Trust Corp now owns 1,363,501 shares of the biotechnology company’s stock valued at $120,465,000 after purchasing an additional 8,188 shares during the period. Finally, Perceptive Advisors LLC acquired a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at $104,253,000. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP Jeffrey Robert Ajer sold 1,180 shares of the firm’s stock in a transaction dated Wednesday, April 13th. The stock was sold at an average price of $82.47, for a total value of $97,314.60. Following the completion of the transaction, the executive vice president now owns 55,077 shares in the company, valued at approximately $4,542,200.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jean Jacques Bienaime sold 10,000 shares of the firm’s stock in a transaction dated Thursday, April 14th. The shares were sold at an average price of $83.66, for a total value of $836,600.00. Following the completion of the transaction, the chief executive officer now owns 334,983 shares of the company’s stock, valued at approximately $28,024,677.78. The disclosure for this sale can be found here. Insiders sold a total of 99,381 shares of company stock valued at $8,225,678 in the last 90 days. 1.75% of the stock is owned by corporate insiders.

A number of research analysts have recently weighed in on BMRN shares. Morgan Stanley raised BioMarin Pharmaceutical from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $96.00 to $113.00 in a research note on Monday, April 25th. Piper Sandler increased their price target on BioMarin Pharmaceutical from $121.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, February 24th. Wedbush lowered their price objective on shares of BioMarin Pharmaceutical from $146.00 to $70.00 and set a “neutral” rating for the company in a research report on Monday, June 13th. StockNews.com cut shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Monday, May 30th. Finally, Credit Suisse Group upped their price objective on shares of BioMarin Pharmaceutical from $105.00 to $106.00 and gave the company an “outperform” rating in a research report on Monday, June 6th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and a consensus target price of $108.46.

BMRN stock opened at $81.32 on Thursday. The stock has a 50-day moving average price of $78.63 and a two-hundred day moving average price of $82.37. The stock has a market cap of $15.04 billion, a PE ratio of 451.78, a price-to-earnings-growth ratio of 1.65 and a beta of 0.42. The company has a current ratio of 4.88, a quick ratio of 3.28 and a debt-to-equity ratio of 0.25. BioMarin Pharmaceutical Inc. has a 1 year low of $70.73 and a 1 year high of $94.20.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Rating) last released its earnings results on Wednesday, April 27th. The biotechnology company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.16. The firm had revenue of $519.36 million during the quarter, compared to analysts’ expectations of $505.11 million. BioMarin Pharmaceutical had a return on equity of 1.36% and a net margin of 2.09%. During the same quarter in the prior year, the company earned $0.29 EPS. On average, analysts forecast that BioMarin Pharmaceutical Inc. will post 0.94 earnings per share for the current fiscal year.

BioMarin Pharmaceutical Profile (Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for BioMarin Pharmaceutical (NASDAQ:BMRN)

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