Perpetual Ltd Grows Stake in BioMarin Pharmaceutical Inc. $BMRN

Perpetual Ltd increased its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 425.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,621 shares of the biotechnology company’s stock after purchasing an additional 20,747 shares during the period. Perpetual Ltd’s holdings in BioMarin Pharmaceutical were worth $1,523,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BMRN. Nisa Investment Advisors LLC raised its position in shares of BioMarin Pharmaceutical by 7.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,741 shares of the biotechnology company’s stock valued at $163,000 after buying an additional 195 shares during the last quarter. Grandfield & Dodd LLC boosted its position in shares of BioMarin Pharmaceutical by 1.2% during the third quarter. Grandfield & Dodd LLC now owns 18,967 shares of the biotechnology company’s stock worth $1,027,000 after acquiring an additional 217 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in BioMarin Pharmaceutical by 3.4% during the third quarter. EverSource Wealth Advisors LLC now owns 7,151 shares of the biotechnology company’s stock valued at $387,000 after acquiring an additional 235 shares in the last quarter. Davis Investment Partners LLC grew its stake in BioMarin Pharmaceutical by 3.1% during the fourth quarter. Davis Investment Partners LLC now owns 8,031 shares of the biotechnology company’s stock valued at $477,000 after acquiring an additional 243 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings in BioMarin Pharmaceutical by 0.6% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 38,890 shares of the biotechnology company’s stock valued at $2,138,000 after acquiring an additional 250 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors.

Insider Transactions at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 6,326 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $60.38, for a total value of $381,963.88. Following the completion of the sale, the executive vice president owned 37,578 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Charles Greg Guyer sold 16,486 shares of the business’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 value of $996,743.56. Following the transaction, the executive vice president owned 79,953 shares of the company’s stock, valued at $4,833,958.38. This trade represents a 17.09% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.85% of the stock is currently owned by insiders.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN opened at $55.50 on Friday. The firm has a market capitalization of $10.67 billion, a PE ratio of 31.18, a PEG ratio of 0.55 and a beta of 0.29. The stock’s fifty day moving average is $58.41 and its 200 day moving average is $56.21. BioMarin Pharmaceutical Inc. has a fifty-two week low of $50.76 and a fifty-two week high of $68.54. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.50 and a current ratio of 5.21.

Analysts Set New Price Targets

BMRN has been the topic of several research analyst reports. Barclays boosted their price target on shares of BioMarin Pharmaceutical from $80.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 3rd. Loop Capital set a $105.00 price objective on BioMarin Pharmaceutical in a research report on Monday, March 2nd. HC Wainwright decreased their target price on BioMarin Pharmaceutical from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 25th. Guggenheim decreased their target price on 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, Wells Fargo & Company increased their price target on BioMarin Pharmaceutical from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.