BioMarin Pharmaceutical Inc. $BMRN Shares Purchased by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG boosted its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 41.7% in the 1st quarter, Holdings Channel reports. The fund owned 43,719 shares of the biotechnology company’s stock after acquiring an additional 12,859 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in BioMarin Pharmaceutical were worth $2,470,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Activest Wealth Management acquired a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $26,000. CIBC Private Wealth Group LLC lifted its position in BioMarin Pharmaceutical by 38.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock worth $39,000 after buying an additional 179 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in BioMarin Pharmaceutical during the third quarter worth approximately $40,000. Parallel Advisors LLC grew its holdings in BioMarin Pharmaceutical by 62.2% in the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 295 shares in the last quarter. Finally, V Square Quantitative Management LLC purchased a new stake in BioMarin Pharmaceutical in the 4th quarter valued at $45,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on BMRN shares. Weiss Ratings upgraded BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, June 26th. Canaccord Genuity Group dropped their price objective on shares of BioMarin Pharmaceutical from $116.00 to $111.00 and set a “buy” rating for the company in a report on Friday, May 22nd. Sanford C. Bernstein cut their price objective on shares of BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating for the company in a research report on Tuesday, May 5th. Wolfe Research reaffirmed an “outperform” rating on shares of BioMarin Pharmaceutical in a research note on Monday, March 16th. Finally, Morgan Stanley decreased their target price on shares of BioMarin Pharmaceutical from $120.00 to $119.00 and set an “overweight” rating on the stock in a report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.50.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 3,281 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were 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 in the company, valued at $2,790,399.30. This represents a 5.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.85% of the stock is currently owned by insiders.

BioMarin Pharmaceutical Price Performance

BMRN opened at $59.20 on Tuesday. The stock’s 50-day moving average price is $55.50 and its 200 day moving average price is $56.85. BioMarin Pharmaceutical Inc. has a 12-month low of $49.26 and a 12-month high of $66.28. The firm has a market cap of $11.44 billion, a price-to-earnings ratio of 43.21, a PEG ratio of 0.45 and a beta of 0.24. The company has a current ratio of 5.81, a quick ratio of 4.20 and a debt-to-equity ratio 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.