BioMarin Pharmaceutical Inc. $BMRN Shares Sold by Inceptionr LLC

Inceptionr LLC cut its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 29.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,789 shares of the biotechnology company’s stock after selling 10,816 shares during the quarter. Inceptionr LLC’s holdings in BioMarin Pharmaceutical were worth $1,397,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financiere des Professionnels Fonds d investissement inc. bought a new position in shares of BioMarin Pharmaceutical in the third quarter worth $1,047,000. Jump Financial LLC raised its stake in shares of BioMarin Pharmaceutical by 530.3% during the second quarter. Jump Financial LLC now owns 291,217 shares of the biotechnology company’s stock valued at $16,008,000 after purchasing an additional 245,017 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of BioMarin Pharmaceutical by 90.7% during the second quarter. AQR Capital Management LLC now owns 5,580,573 shares of the biotechnology company’s stock valued at $306,429,000 after purchasing an additional 2,654,768 shares in the last quarter. Federated Hermes Inc. lifted its holdings in BioMarin Pharmaceutical by 292.6% in the third quarter. Federated Hermes Inc. now owns 278,315 shares of the biotechnology company’s stock worth $15,074,000 after purchasing an additional 207,430 shares during the period. Finally, Mediolanum International Funds Ltd lifted its holdings in BioMarin Pharmaceutical by 56.2% in the third quarter. Mediolanum International Funds Ltd now owns 137,675 shares of the biotechnology company’s stock worth $7,437,000 after purchasing an additional 49,534 shares during the period. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN opened at $61.12 on Monday. The company’s fifty day moving average is $58.92 and its two-hundred day moving average is $56.25. The company has a market cap of $11.75 billion, a P/E ratio of 34.34, a price-to-earnings-growth ratio of 0.53 and a beta of 0.25. BioMarin Pharmaceutical Inc. has a 12-month low of $50.76 and a 12-month high of $73.51. The company has a quick ratio of 3.50, a current ratio of 5.21 and a debt-to-equity ratio of 0.10.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, EVP Gregory R. Friberg sold 6,326 shares of the company’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $60.38, for a total transaction of $381,963.88. Following the transaction, the executive vice president directly owned 37,578 shares of the company’s stock, valued at approximately $2,268,959.64. The trade was a 14.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on BMRN shares. Oppenheimer lowered their target price on shares of BioMarin Pharmaceutical from $98.00 to $95.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 24th. Wells Fargo & Company upped their price target on shares of BioMarin Pharmaceutical from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Guggenheim decreased their price objective on shares of BioMarin Pharmaceutical from $106.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Barclays raised their price objective on shares of BioMarin Pharmaceutical from $80.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, March 3rd. Finally, Truist Financial increased their price target on BioMarin Pharmaceutical from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd. Fifteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and an average target price of $89.64.

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.