LPL Financial LLC lessened its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Get Rating) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,687 shares of the biotechnology company’s stock after selling 859 shares during the period. LPL Financial LLC’s holdings in BioMarin Pharmaceutical were worth $2,658,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of BMRN. Altshuler Shaham Ltd purchased a new position in BioMarin Pharmaceutical during the 3rd quarter valued at about $25,000. TCI Wealth Advisors Inc. increased its holdings in BioMarin Pharmaceutical by 68.0% during the 4th quarter. TCI Wealth Advisors Inc. now owns 247 shares of the biotechnology company’s stock valued at $26,000 after purchasing an additional 100 shares during the period. Acadian Asset Management LLC increased its holdings in BioMarin Pharmaceutical by 395.4% during the 1st quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 344 shares during the period. Baystate Wealth Management LLC purchased a new position in BioMarin Pharmaceutical during the 4th quarter valued at about $41,000. Finally, Ellevest Inc. increased its holdings in BioMarin Pharmaceutical by 268.0% during the 3rd quarter. Ellevest Inc. now owns 622 shares of the biotechnology company’s stock valued at $53,000 after purchasing an additional 453 shares during the period. Institutional investors own 96.26% of the company’s stock.
BioMarin Pharmaceutical Stock Down 0.4 %
BMRN opened at $91.90 on Friday. The company has a quick ratio of 3.21, a current ratio of 4.75 and a debt-to-equity ratio of 0.23. The firm has a market cap of $17.25 billion, a P/E ratio of 241.84 and a beta of 0.38. BioMarin Pharmaceutical Inc. has a 52 week low of $70.73 and a 52 week high of $117.77. The business’s fifty day simple moving average is $94.77 and its 200 day simple moving average is $99.86.
Wall Street Analyst Weigh In
BMRN has been the topic of a number of research analyst reports. Credit Suisse Group boosted their price target on BioMarin Pharmaceutical from $110.00 to $127.00 and gave the company an “outperform” rating in a report on Tuesday, February 28th. 888 reiterated a “maintains” rating on shares of BioMarin Pharmaceutical in a report on Thursday, April 27th. 92 Resources reiterated a “maintains” rating on shares of BioMarin Pharmaceutical in a report on Thursday, April 27th. Oppenheimer downgraded BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 22nd. Finally, Sanford C. Bernstein started coverage on BioMarin Pharmaceutical in a research note on Tuesday, March 21st. They issued an “underperform” rating and a $81.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $118.65.
Insider Buying and Selling at BioMarin Pharmaceutical
In other news, CEO Jean Jacques Bienaime sold 8,000 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $90.45, for a total value of $723,600.00. Following the completion of the transaction, the chief executive officer now owns 487,856 shares in the company, valued at approximately $44,126,575.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 8,000 shares of BioMarin Pharmaceutical stock in a transaction on Monday, March 13th. The stock was sold at an average price of $90.45, for a total transaction of $723,600.00. Following the sale, the chief executive officer now owns 487,856 shares of the company’s stock, valued at approximately $44,126,575.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director V Bryan Lawlis sold 8,500 shares of the business’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $97.09, for a total value of $825,265.00. Following the completion of the sale, the director now directly owns 28,950 shares in the company, valued at approximately $2,810,755.50. The disclosure for this sale can be found here. Insiders sold a total of 81,500 shares of company stock worth $7,735,465 in the last 90 days. 1.84% of the stock is owned by corporate insiders.
BioMarin Pharmaceutical Profile
BioMarin Pharmaceutical, Inc engages in the development and commercialization of therapies for people with serious and life-threatening rare diseases and medical conditions. Its pipeline products include Valoctocogene roxaparvovec, Vosoritide, and BMN 307. The company was founded by John C. Klock, Christopher M.
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