Sector Gamma AS grew its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Free Report) by 12.9% in the 4th quarter, Holdings Channel reports. The fund owned 198,505 shares of the biotechnology company’s stock after buying an additional 22,653 shares during the period. BioMarin Pharmaceutical accounts for 2.7% of Sector Gamma AS’s investment portfolio, making the stock its 16th largest holding. Sector Gamma AS’s holdings in BioMarin Pharmaceutical were worth $11,797,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Viking Global Investors LP boosted its position in BioMarin Pharmaceutical by 13.8% in the second quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock valued at $675,505,000 after buying an additional 1,488,552 shares in the last quarter. Norges Bank acquired a new stake in BioMarin Pharmaceutical in the fourth quarter valued at approximately $447,572,000. AQR Capital Management LLC boosted its position in BioMarin Pharmaceutical by 6.3% in the third quarter. AQR Capital Management LLC now owns 5,932,109 shares of the biotechnology company’s stock valued at $321,283,000 after buying an additional 351,536 shares in the last quarter. Geode Capital Management LLC boosted its position in BioMarin Pharmaceutical by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 3,674,089 shares of the biotechnology company’s stock valued at $218,395,000 after buying an additional 131,969 shares in the last quarter. Finally, Capital Research Global Investors boosted its position in BioMarin Pharmaceutical by 0.4% in the fourth quarter. Capital Research Global Investors now owns 2,547,287 shares of the biotechnology company’s stock valued at $151,385,000 after buying an additional 9,691 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.
Analyst Upgrades and Downgrades
BMRN has been the subject of several recent research reports. Wells Fargo & Company upped their price objective on BioMarin Pharmaceutical from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Weiss Ratings upgraded shares of BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 29th. Wall Street Zen lowered shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $66.00 price objective on shares of BioMarin Pharmaceutical in a report on Tuesday, May 5th. Finally, Loop Capital set a $105.00 price objective on shares of BioMarin Pharmaceutical in a report on Monday, March 2nd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.67.
BioMarin Pharmaceutical Stock Performance
NASDAQ:BMRN opened at $55.54 on Friday. The company has a market capitalization of $10.73 billion, a PE ratio of 40.54, a P/E/G ratio of 0.43 and a beta of 0.25. The company has a 50 day simple moving average of $54.38 and a two-hundred day simple moving average of $56.43. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.20 and a current ratio of 5.81. BioMarin Pharmaceutical Inc. has a fifty-two week low of $49.26 and a fifty-two week high of $66.28.
Insiders Place Their Bets
In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 3,281 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $53.85, for a total transaction of $176,681.85. Following the completion of the sale, the executive vice president owned 51,818 shares of the company’s stock, valued at approximately $2,790,399.30. This represents a 5.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.85% of the company’s stock.
BioMarin Pharmaceutical 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.
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