Aberdeen Group plc Sells 80,297 Shares of BioMarin Pharmaceutical Inc. $BMRN

Aberdeen Group plc lessened its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 8.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 902,751 shares of the biotechnology company’s stock after selling 80,297 shares during the period. Aberdeen Group plc owned about 0.47% of BioMarin Pharmaceutical worth $48,893,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. NewEdge Advisors LLC boosted its stake in shares of BioMarin Pharmaceutical by 11.5% in the first quarter. NewEdge Advisors LLC now owns 3,769 shares of the biotechnology company’s stock valued at $266,000 after buying an additional 388 shares during the period. Empowered Funds LLC raised its holdings in BioMarin Pharmaceutical by 207.4% in the 1st quarter. Empowered Funds LLC now owns 12,023 shares of the biotechnology company’s stock valued at $850,000 after acquiring an additional 8,112 shares in the last quarter. Focus Partners Wealth lifted its position in shares of BioMarin Pharmaceutical by 70.2% during the 1st quarter. Focus Partners Wealth now owns 11,817 shares of the biotechnology company’s stock valued at $835,000 after acquiring an additional 4,876 shares during the period. Sivia Capital Partners LLC grew its holdings in shares of BioMarin Pharmaceutical by 33.0% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,439 shares of the biotechnology company’s stock worth $244,000 after purchasing an additional 1,102 shares in the last quarter. Finally, Blair William & Co. IL grew its holdings in shares of BioMarin Pharmaceutical by 9.0% during the 2nd quarter. Blair William & Co. IL now owns 5,232 shares of the biotechnology company’s stock worth $288,000 after purchasing an additional 432 shares in the last quarter. 98.71% of the stock is owned by institutional investors.

BioMarin Pharmaceutical Trading Down 0.1%

Shares of BioMarin Pharmaceutical stock opened at $59.87 on Monday. The firm’s 50 day moving average is $57.25 and its 200 day moving average is $55.95. The firm has a market capitalization of $11.50 billion, a PE ratio of 22.51, a price-to-earnings-growth ratio of 0.65 and a beta of 0.26. BioMarin Pharmaceutical Inc. has a 1 year low of $50.76 and a 1 year high of $73.51. The company has a current ratio of 4.83, a quick ratio of 3.10 and a debt-to-equity ratio of 0.10.

Analysts Set New Price Targets

BMRN has been the subject of a number of analyst reports. Sanford C. Bernstein dropped their price target on BioMarin Pharmaceutical from $95.00 to $88.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Truist Financial raised their target price on shares of BioMarin Pharmaceutical from $80.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, December 23rd. Leerink Partners downgraded 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. Weiss Ratings reiterated a “sell (d)” rating on shares of BioMarin Pharmaceutical in a research report on Monday, December 29th. Finally, Wolfe Research restated an “outperform” rating on shares of BioMarin Pharmaceutical in a research report on Tuesday, October 28th. Seventeen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $88.29.

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.