Daiwa Securities Group Inc. decreased its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Free Report) by 39.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 24,680 shares of the biotechnology company’s stock after selling 16,209 shares during the quarter. Daiwa Securities Group Inc.’s holdings in BioMarin Pharmaceutical were worth $1,466,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Activest Wealth Management purchased a new stake in shares of BioMarin Pharmaceutical during the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC raised its stake in BioMarin Pharmaceutical by 92.5% during the third quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 360 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in BioMarin Pharmaceutical during the third quarter worth $40,000. Parallel Advisors LLC boosted its holdings in shares of BioMarin Pharmaceutical by 62.2% in the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 295 shares during the period. Finally, V Square Quantitative Management LLC acquired a new position in BioMarin Pharmaceutical in the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the stock. Canaccord Genuity Group reduced their price target on shares of BioMarin Pharmaceutical from $116.00 to $111.00 and set a “buy” rating for the company in a report on Friday, May 22nd. Loop Capital set a $105.00 price objective on shares of BioMarin Pharmaceutical in a report on Monday, March 2nd. Jefferies Financial Group reiterated a “buy” rating and issued a $103.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, March 12th. Citigroup began coverage on shares of BioMarin Pharmaceutical in a research report on Tuesday, May 19th. They issued a “buy” rating and a $75.00 price target on the stock. Finally, Stifel Nicolaus set a $68.00 price objective on BioMarin Pharmaceutical in a report on Tuesday, February 24th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.67.
Insider Buying and Selling at BioMarin Pharmaceutical
In other news, EVP Gregory R. Friberg sold 3,281 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $53.85, for a total value of $176,681.85. Following the transaction, the executive vice president owned 51,818 shares in the company, valued at $2,790,399.30. This represents a 5.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.85% of the stock is owned by corporate insiders.
BioMarin Pharmaceutical Price Performance
NASDAQ BMRN opened at $56.17 on Thursday. The stock’s 50-day moving average price is $54.40 and its two-hundred day moving average price is $56.42. The company has a current ratio of 5.81, a quick ratio of 4.20 and a debt-to-equity ratio of 0.23. The company has a market cap of $10.86 billion, a PE ratio of 41.00, a PEG ratio of 0.44 and a beta of 0.25. BioMarin Pharmaceutical Inc. has a 1 year low of $49.26 and a 1 year high of $66.28.
BioMarin Pharmaceutical Company Profile
BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.
The company’s commercial portfolio includes several approved therapies targeting inherited disorders.
Featured Stories
- Five stocks we like better than BioMarin Pharmaceutical
- Everpure: AI Storage Uncertainty Overshadows Breakneck Growth
- This Tech ETF Is Beating QQQ—and Canada May Be Part of the Reason
- Intel Is the Market’s Most Mispriced AI Hedge
- The Biggest Opportunity From SpaceX’s IPO May Surprise You
Want to see what other hedge funds are holding BMRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Free Report).
Receive News & Ratings for BioMarin Pharmaceutical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioMarin Pharmaceutical and related companies with MarketBeat.com's FREE daily email newsletter.
