BioMarin Pharmaceutical Inc. $BMRN Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH trimmed its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 36.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,254 shares of the biotechnology company’s stock after selling 8,587 shares during the quarter. Allianz Asset Management GmbH’s holdings in BioMarin Pharmaceutical were worth $826,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in BMRN. Securian Asset Management Inc. grew its position in BioMarin Pharmaceutical by 1.4% during the second quarter. Securian Asset Management Inc. now owns 14,604 shares of the biotechnology company’s stock valued at $803,000 after buying an additional 197 shares during the period. Sittner & Nelson LLC boosted its stake in shares of BioMarin Pharmaceutical by 6.9% during the 2nd quarter. Sittner & Nelson LLC now owns 3,100 shares of the biotechnology company’s stock worth $170,000 after acquiring an additional 200 shares in the last quarter. Grandfield & Dodd LLC grew its position in shares of BioMarin Pharmaceutical by 1.2% during the 3rd quarter. Grandfield & Dodd LLC now owns 18,967 shares of the biotechnology company’s stock valued at $1,027,000 after acquiring an additional 217 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of 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 purchasing an additional 250 shares in the last quarter. Finally, New Wave Wealth Advisors LLC increased its stake in shares of BioMarin Pharmaceutical by 2.5% in the 3rd quarter. New Wave Wealth Advisors LLC now owns 11,910 shares of the biotechnology company’s stock valued at $645,000 after purchasing an additional 288 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN opened at $59.87 on Friday. The firm has a 50-day simple moving average of $57.25 and a 200-day simple moving average of $55.98. The company has a quick ratio of 3.10, a current ratio of 4.83 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $11.50 billion, a price-to-earnings ratio of 22.51, a price-to-earnings-growth ratio of 0.65 and a beta of 0.26. BioMarin Pharmaceutical Inc. has a 52 week low of $50.76 and a 52 week high of $73.51.

Analyst Ratings Changes

A number of equities analysts have issued reports on BMRN shares. Royal Bank Of Canada reiterated a “sector perform” rating and set a $66.00 price target on shares of BioMarin Pharmaceutical in a research report on Tuesday, October 28th. Truist Financial upped their target price on BioMarin Pharmaceutical from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, December 23rd. Piper Sandler dropped their price target on shares of BioMarin Pharmaceutical from $122.00 to $84.00 and set an “overweight” rating on the stock in a research note on Friday, February 6th. Leerink Partners lowered shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $82.00 to $60.00 in a report on Wednesday, December 3rd. Finally, Stifel Nicolaus restated a “hold” rating and set a $61.00 price objective (down from $73.00) on shares of BioMarin Pharmaceutical in a research report on Thursday, November 6th. Seventeen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and an average price target of $88.29.

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.