BioMarin Pharmaceutical Inc. $BMRN Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lessened its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,127,847 shares of the biotechnology company’s stock after selling 454,738 shares during the quarter. Vanguard Group Inc. owned 0.09% of BioMarin Pharmaceutical worth $1,077,338,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of BMRN. NewEdge Advisors LLC grew its stake in BioMarin Pharmaceutical by 11.5% during the 1st quarter. NewEdge Advisors LLC now owns 3,769 shares of the biotechnology company’s stock valued at $266,000 after purchasing an additional 388 shares in the last quarter. Empowered Funds LLC grew its stake in BioMarin Pharmaceutical by 207.4% during the 1st quarter. Empowered Funds LLC now owns 12,023 shares of the biotechnology company’s stock valued at $850,000 after purchasing an additional 8,112 shares in the last quarter. Focus Partners Wealth grew its stake in BioMarin Pharmaceutical by 70.2% during the 1st quarter. Focus Partners Wealth now owns 11,817 shares of the biotechnology company’s stock valued at $835,000 after purchasing an additional 4,876 shares in the last quarter. Sivia Capital Partners LLC grew its stake in BioMarin Pharmaceutical by 33.0% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,439 shares of the biotechnology company’s stock valued at $244,000 after purchasing an additional 1,102 shares in the last quarter. Finally, Invesco Ltd. grew its stake in BioMarin Pharmaceutical by 23.5% during the 2nd quarter. Invesco Ltd. now owns 618,835 shares of the biotechnology company’s stock valued at $34,017,000 after purchasing an additional 117,617 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

Analysts Set New Price Targets

BMRN has been the subject of a number of recent analyst reports. Wells Fargo & Company raised 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. Sanford C. Bernstein increased their target price on BioMarin Pharmaceutical from $90.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Bank of America reduced their target price on BioMarin Pharmaceutical from $97.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. Truist Financial raised BioMarin Pharmaceutical to a “strong-buy” rating in a report on Wednesday, March 25th. Finally, Weiss Ratings downgraded BioMarin Pharmaceutical from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average target price of $91.48.

Insider Buying and Selling

In related news, EVP Gregory R. Friberg sold 6,326 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $60.38, for a total value of $381,963.88. Following the sale, the executive vice president owned 37,578 shares of the company’s stock, valued at approximately $2,268,959.64. This trade represents a 14.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Charles Greg Guyer sold 16,486 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $60.46, for a total value of $996,743.56. Following the completion of the sale, the executive vice president directly owned 79,953 shares in the company, valued at approximately $4,833,958.38. This trade represents a 17.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.85% of the company’s stock.

BioMarin Pharmaceutical Trading Up 0.3%

NASDAQ:BMRN opened at $54.06 on Friday. The company has a quick ratio of 3.50, a current ratio of 5.21 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $56.93 and its two-hundred day moving average is $56.26. BioMarin Pharmaceutical Inc. has a 52 week low of $50.76 and a 52 week high of $66.28. The company has a market cap of $10.45 billion, a PE ratio of 30.37, a P/E/G ratio of 0.54 and a beta of 0.23.

About BioMarin Pharmaceutical

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.