Comerica Bank Sells 14,326 Shares of BioMarin Pharmaceutical Inc. $BMRN

Comerica Bank reduced its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 18.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 62,650 shares of the biotechnology company’s stock after selling 14,326 shares during the quarter. Comerica Bank’s holdings in BioMarin Pharmaceutical were worth $3,723,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quent Capital LLC bought a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter worth approximately $28,000. Smartleaf Asset Management LLC lifted its stake in shares of BioMarin Pharmaceutical by 92.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock worth $40,000 after acquiring an additional 360 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter worth approximately $40,000. Parallel Advisors LLC lifted its stake in shares of BioMarin Pharmaceutical by 62.2% during the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 295 shares during the last quarter. Finally, V Square Quantitative Management LLC bought a new stake in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $45,000. 98.71% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Gregory R. Friberg sold 6,326 shares of BioMarin Pharmaceutical stock in a transaction 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 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Charles Greg Guyer sold 16,486 shares of the business’s stock in a transaction 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 transaction, the executive vice president owned 79,953 shares in the company, 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. Company insiders own 0.85% of the company’s stock.

BioMarin Pharmaceutical Trading Up 0.3%

Shares of NASDAQ:BMRN opened at $54.06 on Friday. BioMarin Pharmaceutical Inc. has a 12-month low of $50.76 and a 12-month high of $66.28. The business’s fifty day simple moving average is $56.93 and its 200-day simple moving average is $56.29. The company has a market capitalization of $10.45 billion, a PE ratio of 30.37, a P/E/G ratio of 0.54 and a beta of 0.23. The company has a current ratio of 5.21, a quick ratio of 3.50 and a debt-to-equity ratio of 0.10.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on BMRN shares. HC Wainwright decreased their price target on BioMarin Pharmaceutical from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. Weiss Ratings raised BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday. Barclays raised their price objective on BioMarin Pharmaceutical from $80.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. Wolfe Research restated an “outperform” rating on shares of BioMarin Pharmaceutical in a report on Monday, March 16th. Finally, Stifel Nicolaus set a $68.00 price objective on BioMarin Pharmaceutical in a report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and an average price target of $91.48.

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.