Dimensional Fund Advisors LP Purchases 671,566 Shares of BioMarin Pharmaceutical Inc. $BMRN

Dimensional Fund Advisors LP grew its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 42.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,245,186 shares of the biotechnology company’s stock after acquiring an additional 671,566 shares during the quarter. Dimensional Fund Advisors LP owned 1.17% of BioMarin Pharmaceutical worth $121,597,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Quent Capital LLC acquired a new stake in BioMarin Pharmaceutical in the 3rd quarter worth about $28,000. Smartleaf Asset Management LLC boosted its holdings in BioMarin Pharmaceutical by 92.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 360 shares during the period. Employees Retirement System of Texas acquired a new position in shares of BioMarin Pharmaceutical during the 2nd quarter worth approximately $58,000. Jones Financial Companies Lllp increased its holdings in shares of BioMarin Pharmaceutical by 88.1% during the third quarter. Jones Financial Companies Lllp now owns 1,401 shares of the biotechnology company’s stock worth $75,000 after purchasing an additional 656 shares during the period. Finally, Hantz Financial Services Inc. raised its position in shares of BioMarin Pharmaceutical by 47.3% in the third quarter. Hantz Financial Services Inc. now owns 1,555 shares of the biotechnology company’s stock valued at $84,000 after buying an additional 499 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Down 0.9%

Shares of NASDAQ BMRN opened at $60.32 on Thursday. The company has a market cap of $11.60 billion, a price-to-earnings ratio of 33.89, a PEG ratio of 0.53 and a beta of 0.25. The company has a current ratio of 5.21, a quick ratio of 3.50 and a debt-to-equity ratio of 0.10. BioMarin Pharmaceutical Inc. has a 12 month low of $50.76 and a 12 month high of $73.18. The stock has a 50-day moving average price of $58.99 and a two-hundred day moving average price of $56.32.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, 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 value of $381,963.88. Following the sale, the executive vice president owned 37,578 shares in the company, valued at $2,268,959.64. This trade represents a 14.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.85% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Guggenheim cut their price target on BioMarin Pharmaceutical from $106.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Barclays raised their price objective on BioMarin Pharmaceutical from $80.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 3rd. Canaccord Genuity Group upped their target price on BioMarin Pharmaceutical from $98.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Oppenheimer reduced their target price on BioMarin Pharmaceutical from $98.00 to $95.00 and set an “outperform” rating on the stock in a report on Tuesday, February 24th. Finally, Piper Sandler decreased their price target on BioMarin Pharmaceutical from $122.00 to $84.00 and set an “overweight” rating on the stock in a research report on Friday, February 6th. Sixteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $89.43.

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.