Tokio Marine Asset Management Co. Ltd. Sells 9,438 Shares of BioMarin Pharmaceutical Inc. $BMRN

Tokio Marine Asset Management Co. Ltd. decreased its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 41.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,100 shares of the biotechnology company’s stock after selling 9,438 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in BioMarin Pharmaceutical were worth $779,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quent Capital LLC bought a new position in BioMarin Pharmaceutical during the third quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd bought a new position in BioMarin Pharmaceutical during the third quarter valued at approximately $40,000. Smartleaf Asset Management LLC lifted its position 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 purchasing an additional 360 shares during the period. V Square Quantitative Management LLC bought a new position in BioMarin Pharmaceutical during the fourth quarter valued at approximately $45,000. Finally, Parallel Advisors LLC lifted its position in BioMarin Pharmaceutical by 62.2% during the third quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 295 shares during the period. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Down 0.5%

BMRN opened at $54.62 on Wednesday. The company has a current ratio of 5.21, a quick ratio of 3.50 and a debt-to-equity ratio of 0.10. BioMarin Pharmaceutical Inc. has a 1-year low of $50.76 and a 1-year high of $66.28. The company has a market capitalization of $10.50 billion, a PE ratio of 30.69, a PEG ratio of 0.54 and a beta of 0.29. The firm’s 50 day simple moving average is $57.90 and its two-hundred day simple moving average is $56.31.

Analysts Set New Price Targets

BMRN has been the topic of a number of research analyst reports. Jefferies Financial Group restated a “buy” rating and set a $103.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, March 12th. Stifel Nicolaus set a $68.00 price objective on shares of BioMarin Pharmaceutical in a research report on Tuesday, February 24th. Wolfe Research restated an “outperform” rating on shares of BioMarin Pharmaceutical in a research report on Monday, March 16th. Sanford C. Bernstein increased their price target on shares of BioMarin Pharmaceutical from $90.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Finally, HC Wainwright decreased their price target on shares of BioMarin Pharmaceutical from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average target price of $90.00.

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 6,326 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $60.38, for a total value of $381,963.88. Following the transaction, the executive vice president directly owned 37,578 shares in the company, valued at approximately $2,268,959.64. This trade represents a 14.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Charles Greg Guyer sold 16,486 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $60.46, for a total transaction of $996,743.56. Following the completion of the sale, the executive vice president directly owned 79,953 shares of the company’s stock, valued at approximately $4,833,958.38. This trade represents a 17.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.85% of the stock is currently owned by company insiders.

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.