Erste Asset Management GmbH reduced its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Free Report) by 89.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,935 shares of the biotechnology company’s stock after selling 620,000 shares during the period. Erste Asset Management GmbH’s holdings in BioMarin Pharmaceutical were worth $4,580,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. TD Private Client Wealth LLC boosted its holdings in BioMarin Pharmaceutical by 57.4% in the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 186 shares during the period. SBI Securities Co. Ltd. purchased a new position in BioMarin Pharmaceutical in the fourth quarter valued at $36,000. Meeder Asset Management Inc. boosted its holdings in BioMarin Pharmaceutical by 920.8% in the third quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 663 shares during the period. True Wealth Design LLC boosted its holdings in BioMarin Pharmaceutical by 13,400.0% in the third quarter. True Wealth Design LLC now owns 810 shares of the biotechnology company’s stock valued at $57,000 after purchasing an additional 804 shares during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in BioMarin Pharmaceutical by 111.2% in the fourth 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. 98.71% of the stock is currently owned by hedge funds and other institutional investors.
BioMarin Pharmaceutical Stock Performance
Shares of BMRN stock opened at $69.44 on Friday. The stock has a market capitalization of $13.25 billion, a PE ratio of 31.56, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a 52-week low of $60.63 and a 52-week high of $94.85. The stock’s 50-day moving average price is $66.22 and its 200 day moving average price is $68.96. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11.
Insiders Place Their Bets
In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,344 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $68.38, for a total transaction of $91,902.72. Following the transaction, the chief accounting officer now owns 13,105 shares in the company, valued at approximately $896,119.90. The trade was a 9.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.85% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on BMRN shares. Wolfe Research assumed coverage on BioMarin Pharmaceutical in a report on Friday, November 15th. They issued an “outperform” rating and a $95.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Oppenheimer raised BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price target for the company in a report on Monday, February 24th. Finally, UBS Group lifted their price target on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $94.00.
Check Out Our Latest Stock Report on BioMarin Pharmaceutical
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.
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