Must Asset Management Inc. lowered its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 39.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,779 shares of the biotechnology company’s stock after selling 4,328 shares during the quarter. BioMarin Pharmaceutical comprises approximately 0.4% of Must Asset Management Inc.’s investment portfolio, making the stock its 21st biggest holding. Must Asset Management Inc.’s holdings in BioMarin Pharmaceutical were worth $566,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the company. Lake Point Wealth Management acquired a new position in shares of BioMarin Pharmaceutical during the second quarter worth about $33,000. Sierra Capital LLC acquired a new position in BioMarin Pharmaceutical during the 1st quarter worth approximately $38,000. JTC Employer Solutions Trusteee Ltd bought a new position in shares of BioMarin Pharmaceutical during the 2nd quarter worth approximately $47,000. Berman Capital Advisors LLC raised its holdings in shares of BioMarin Pharmaceutical by 45.2% in the second quarter. Berman Capital Advisors LLC now owns 588 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 183 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of BioMarin Pharmaceutical by 1,621.6% in the first quarter. Bessemer Group Inc. now owns 637 shares of the biotechnology company’s stock worth $49,000 after purchasing an additional 600 shares in the last quarter. Institutional investors own 94.44% of the company’s stock.
Shares of NASDAQ:BMRN traded up $0.61 during midday trading on Thursday, hitting $79.64. The stock had a trading volume of 2,623 shares, compared to its average volume of 1,128,757. The company has a quick ratio of 3.71, a current ratio of 5.32 and a debt-to-equity ratio of 0.25. The business’s 50-day simple moving average is $78.39 and its 200-day simple moving average is $78.90. BioMarin Pharmaceutical Inc. has a 12 month low of $71.65 and a 12 month high of $92.57. The company has a market cap of $14.60 billion, a P/E ratio of 18.42, a PEG ratio of 15.81 and a beta of 0.53.
A number of research analysts recently weighed in on BMRN shares. Royal Bank of Canada reaffirmed a “hold” rating and issued a $88.00 target price on shares of BioMarin Pharmaceutical in a research report on Tuesday, September 7th. Zacks Investment Research downgraded BioMarin Pharmaceutical from a “buy” rating to a “hold” rating and set a $81.00 target price on the stock. in a research report on Tuesday, August 3rd. Jefferies Financial Group started coverage on BioMarin Pharmaceutical in a research report on Thursday, July 29th. They set a “buy” rating and a $112.00 price target for the company. Wedbush restated a “buy” rating and issued a $152.00 price target on shares of BioMarin Pharmaceutical in a research note on Tuesday, September 7th. Finally, SVB Leerink reiterated a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, September 14th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of “Buy” and an average price target of $101.39.
BioMarin Pharmaceutical Company Profile
BioMarin Pharmaceutical, Inc engages in the development and commercialization of therapies for people with serious and life-threatening rare diseases and medical conditions. Its pipeline products include Valoctocogene roxaparvovec, Vosoritide, and BMN 307. The company was founded by John C. Klock, Christopher M.
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