Jump Financial LLC Sells 15,539 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Jump Financial LLC cut its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 77.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,431 shares of the biotechnology company’s stock after selling 15,539 shares during the quarter. Jump Financial LLC’s holdings in BioMarin Pharmaceutical were worth $291,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. SBI Securities Co. Ltd. bought a new position in BioMarin Pharmaceutical in the fourth quarter worth about $36,000. CIBC Private Wealth Group LLC raised its position in shares of BioMarin Pharmaceutical by 64.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company’s stock worth $41,000 after acquiring an additional 233 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of BioMarin Pharmaceutical by 111.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company’s stock valued at $58,000 after purchasing an additional 466 shares during the period. UMB Bank n.a. boosted its position 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 valued at $67,000 after purchasing an additional 736 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in BioMarin Pharmaceutical by 27.5% in the fourth quarter. Blue Trust Inc. now owns 1,095 shares of the biotechnology company’s stock worth $77,000 after purchasing an additional 236 shares during the period. 98.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Piper Sandler lifted their price target on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Oppenheimer raised shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 target price for the company in a research note on Monday, February 24th. Finally, UBS Group boosted their price target on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $93.14.

Insider Transactions at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,295 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total transaction of $92,618.40. Following the completion of the sale, the chief accounting officer now owns 16,955 shares in the company, valued at approximately $1,212,621.60. This represents a 7.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.85% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ BMRN opened at $63.30 on Friday. The firm’s 50-day moving average price is $66.40 and its 200-day moving average price is $65.99. BioMarin Pharmaceutical Inc. has a 52-week low of $52.93 and a 52-week high of $94.85. The company has a market cap of $12.08 billion, a PE ratio of 28.77, a PEG ratio of 0.61 and a beta of 0.30. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) 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 company had revenue of $747.31 million for the quarter, compared to analysts’ expectations of $711.05 million. As a group, analysts anticipate that BioMarin Pharmaceutical Inc. will post 3.15 EPS 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.