Capital Research Global Investors Buys 9,691 Shares of BioMarin Pharmaceutical Inc. $BMRN

Capital Research Global Investors raised its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 0.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,547,287 shares of the biotechnology company’s stock after acquiring an additional 9,691 shares during the quarter. Capital Research Global Investors’ holdings in BioMarin Pharmaceutical were worth $151,385,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Activest Wealth Management bought a new position in shares of BioMarin Pharmaceutical in the fourth quarter worth about $26,000. Caitong International Asset Management Co. Ltd bought a new position in shares of BioMarin Pharmaceutical in the third quarter worth about $40,000. Smartleaf Asset Management LLC increased its stake in shares of BioMarin Pharmaceutical by 92.5% in the third quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 360 shares during the period. V Square Quantitative Management LLC bought a new position in shares of BioMarin Pharmaceutical in the fourth quarter worth about $45,000. Finally, Parallel Advisors LLC increased its stake in shares of BioMarin Pharmaceutical by 62.2% in the third quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 295 shares during the period. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Trading Down 0.4%

Shares of BMRN opened at $56.55 on Tuesday. BioMarin Pharmaceutical Inc. has a 12-month low of $49.26 and a 12-month high of $66.28. The company has a quick ratio of 4.20, a current ratio of 5.81 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $10.93 billion, a price-to-earnings ratio of 41.28, a P/E/G ratio of 0.43 and a beta of 0.25. The stock’s 50-day moving average price is $54.29 and its 200 day moving average price is $56.36.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. The Goldman Sachs Group assumed coverage on BioMarin Pharmaceutical in a research note on Monday, May 11th. They issued a “neutral” rating and a $69.00 price objective on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $103.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, March 12th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $66.00 price objective on shares of BioMarin Pharmaceutical in a research note on Tuesday, May 5th. Loop Capital set a $105.00 price objective on BioMarin Pharmaceutical in a research note on Monday, March 2nd. Finally, Weiss Ratings upgraded BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.67.

Insider Activity

In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 3,281 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $53.85, for a total transaction of $176,681.85. Following the sale, the executive vice president directly owned 51,818 shares of the company’s stock, valued at approximately $2,790,399.30. The trade was a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Charles Greg Guyer sold 16,486 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $60.46, for a total value of $996,743.56. Following the sale, the executive vice president directly owned 79,953 shares in the company, valued at $4,833,958.38. The trade was a 17.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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.