Assenagon Asset Management S.A. Raises Stock Holdings in BioMarin Pharmaceutical Inc. $BMRN

Assenagon Asset Management S.A. increased its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 312.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,419,067 shares of the biotechnology company’s stock after acquiring an additional 1,074,929 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.74% of BioMarin Pharmaceutical worth $84,335,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Diversified Trust Co. grew its holdings in BioMarin Pharmaceutical by 184.1% during the fourth quarter. Diversified Trust Co. now owns 14,297 shares of the biotechnology company’s stock valued at $850,000 after purchasing an additional 9,265 shares during the period. Sound View Wealth Advisors Group LLC bought a new stake in shares of BioMarin Pharmaceutical in the fourth quarter valued at $434,000. NorthCrest Asset Manangement LLC lifted its position in shares of BioMarin Pharmaceutical by 4.7% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 12,483 shares of the biotechnology company’s stock valued at $735,000 after buying an additional 564 shares during the last quarter. Central Pacific Bank Trust Division grew its stake in shares of BioMarin Pharmaceutical by 9.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 5,750 shares of the biotechnology company’s stock worth $342,000 after acquiring an additional 500 shares during the period. Finally, Davis Investment Partners LLC grew its stake in shares of BioMarin Pharmaceutical by 3.1% during the 4th quarter. Davis Investment Partners LLC now owns 8,031 shares of the biotechnology company’s stock worth $477,000 after acquiring an additional 243 shares during the period. Institutional investors own 98.71% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on BMRN. Oppenheimer lowered their price objective on BioMarin Pharmaceutical from $98.00 to $95.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 24th. Loop Capital set a $105.00 target price on shares of BioMarin Pharmaceutical in a research report on Monday, March 2nd. Truist Financial lifted their target price on shares of BioMarin Pharmaceutical from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, December 23rd. Guggenheim lowered their price target on shares of BioMarin Pharmaceutical from $106.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Finally, Sanford C. Bernstein upped their price target on shares of BioMarin Pharmaceutical from $90.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Seventeen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and an average target price of $90.00.

BioMarin Pharmaceutical Stock Down 1.3%

Shares of NASDAQ BMRN opened at $54.09 on Wednesday. BioMarin Pharmaceutical Inc. has a 52 week low of $50.76 and a 52 week high of $73.18. The business has a 50-day simple moving average of $58.45 and a two-hundred day simple moving average of $56.17. 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 company has a market cap of $10.40 billion, a P/E ratio of 30.39, a P/E/G ratio of 0.54 and a beta of 0.25.

Insider Activity

In related news, EVP Gregory R. Friberg sold 6,326 shares of the business’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 transaction, the executive vice president 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Charles Greg Guyer sold 16,486 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $60.46, for a total transaction of $996,743.56. Following the completion of the sale, the executive vice president owned 79,953 shares in the company, valued at $4,833,958.38. This represents a 17.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.85% of the company’s stock.

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.