Blair William & Co. IL Cuts Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Blair William & Co. IL trimmed its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 85.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,800 shares of the biotechnology company’s stock after selling 27,542 shares during the period. Blair William & Co. IL’s holdings in BioMarin Pharmaceutical were worth $339,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Dodge & Cox boosted its position in BioMarin Pharmaceutical by 6.1% during the fourth quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company’s stock valued at $969,270,000 after buying an additional 847,917 shares during the period. Capital Research Global Investors boosted its position in BioMarin Pharmaceutical by 23.8% during the fourth quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company’s stock valued at $853,944,000 after buying an additional 2,496,817 shares during the period. Northern Trust Corp boosted its position in BioMarin Pharmaceutical by 16.2% during the fourth quarter. Northern Trust Corp now owns 1,725,039 shares of the biotechnology company’s stock valued at $113,387,000 after buying an additional 240,681 shares during the period. AQR Capital Management LLC boosted its position in BioMarin Pharmaceutical by 114.5% during the fourth quarter. AQR Capital Management LLC now owns 1,283,599 shares of the biotechnology company’s stock valued at $84,371,000 after buying an additional 685,099 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in BioMarin Pharmaceutical by 19.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,055,087 shares of the biotechnology company’s stock valued at $69,351,000 after buying an additional 174,634 shares during the period. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,786 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $59.31, for a total value of $105,927.66. Following the sale, the chief accounting officer owned 14,173 shares in the company, valued at approximately $840,600.63. This trade represents a 11.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.85% of the company’s stock.

BioMarin Pharmaceutical Trading Down 0.9%

NASDAQ:BMRN opened at $56.80 on Tuesday. The company’s 50 day moving average price is $57.29 and its 200-day moving average price is $61.70. BioMarin Pharmaceutical Inc. has a 52 week low of $52.93 and a 52 week high of $94.85. The company has a quick ratio of 3.60, a current ratio of 5.56 and a debt-to-equity ratio of 0.10. The stock has a market cap of $10.91 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 0.74 and a beta of 0.18.

Analysts Set New Price Targets

BMRN has been the subject of several analyst reports. JPMorgan Chase & Co. upped their price target on shares of BioMarin Pharmaceutical from $108.00 to $113.00 and gave the company an “overweight” rating in a research report on Monday, July 14th. The Goldman Sachs Group cut their price target on shares of BioMarin Pharmaceutical from $124.00 to $104.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Wall Street Zen upgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Guggenheim upped their price objective on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Finally, Wolfe Research set a $95.00 price objective on shares of BioMarin Pharmaceutical and gave the company an “outperform” rating in a research note on Tuesday, July 15th. Six investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.17.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.