Caerus Investment Advisors LLC Acquires New Position in BioMarin Pharmaceutical Inc. $BMRN

Caerus Investment Advisors LLC acquired a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 9,958 shares of the biotechnology company’s stock, valued at approximately $539,000.

Other institutional investors also recently bought and sold shares of the company. Dodge & Cox grew its stake in shares of BioMarin Pharmaceutical by 1.0% in the 2nd quarter. Dodge & Cox now owns 15,108,310 shares of the biotechnology company’s stock valued at $830,504,000 after buying an additional 153,070 shares during the period. Viking Global Investors LP lifted its holdings in BioMarin Pharmaceutical by 13.8% in the second quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock valued at $675,505,000 after acquiring an additional 1,488,552 shares during the last quarter. AQR Capital Management LLC lifted its holdings in BioMarin Pharmaceutical by 6.3% in the third quarter. AQR Capital Management LLC now owns 5,932,109 shares of the biotechnology company’s stock valued at $321,283,000 after acquiring an additional 351,536 shares during the last quarter. Geode Capital Management LLC grew its position in BioMarin Pharmaceutical by 1.3% in the second quarter. Geode Capital Management LLC now owns 3,474,438 shares of the biotechnology company’s stock worth $190,417,000 after acquiring an additional 43,185 shares during the period. Finally, Capital Research Global Investors increased its stake in BioMarin Pharmaceutical by 547.5% during the third quarter. Capital Research Global Investors now owns 2,537,596 shares of the biotechnology company’s stock worth $137,436,000 after acquiring an additional 2,145,717 shares during the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at BioMarin Pharmaceutical

In related news, EVP Charles Greg Guyer sold 16,486 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $60.46, for a total transaction of $996,743.56. Following the sale, the executive vice president directly owned 79,953 shares in the company, valued at approximately $4,833,958.38. This represents a 17.09% 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. Also, EVP Gregory R. Friberg sold 6,326 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $60.38, for a total transaction of $381,963.88. Following the completion of the sale, 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 SEC filing for this sale provides additional information. 0.85% of the stock is owned by company insiders.

BioMarin Pharmaceutical Trading Down 2.4%

BMRN opened at $56.05 on Wednesday. BioMarin Pharmaceutical Inc. has a 52 week low of $50.76 and a 52 week high of $73.18. 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 has a fifty day simple moving average of $58.85 and a 200-day simple moving average of $56.30. The firm has a market cap of $10.78 billion, a P/E ratio of 31.49, a P/E/G ratio of 0.56 and a beta of 0.25.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BMRN. HC Wainwright decreased their price target on BioMarin Pharmaceutical from $60.00 to $55.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 25th. Jefferies Financial Group reissued a “buy” rating and set a $103.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, March 12th. Barclays boosted their price objective on shares of BioMarin Pharmaceutical from $80.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, March 3rd. Guggenheim lowered their target price on shares of BioMarin Pharmaceutical from $106.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Finally, Piper Sandler dropped their price target on shares of BioMarin Pharmaceutical from $122.00 to $84.00 and set an “overweight” rating for the company in a research report on Friday, February 6th. Seventeen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $90.00.

BioMarin Pharmaceutical Company 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.