BioMarin Pharmaceutical Inc. $BMRN Stake Boosted by Diversified Trust Co.

Diversified Trust Co. boosted its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 184.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,297 shares of the biotechnology company’s stock after purchasing an additional 9,265 shares during the quarter. Diversified Trust Co.’s holdings in BioMarin Pharmaceutical were worth $850,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BMRN. Quent Capital LLC acquired a new position in BioMarin Pharmaceutical during the 3rd quarter valued at approximately $28,000. Smartleaf Asset Management LLC increased its stake in BioMarin Pharmaceutical by 92.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 360 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of BioMarin Pharmaceutical during the third quarter valued at approximately $40,000. Parallel Advisors LLC boosted its stake in BioMarin Pharmaceutical by 62.2% during the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 295 shares in the last quarter. Finally, Employees Retirement System of Texas acquired a new position in BioMarin Pharmaceutical during the second quarter worth about $58,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BMRN has been the subject of several recent research reports. Canaccord Genuity Group increased their target price on shares of BioMarin Pharmaceutical from $98.00 to $104.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Piper Sandler lowered their price target on BioMarin Pharmaceutical from $122.00 to $84.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. Sanford C. Bernstein upped their target price on BioMarin Pharmaceutical from $90.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Wolfe Research reaffirmed an “outperform” rating on shares of BioMarin Pharmaceutical in a research note on Monday, March 16th. Finally, Truist Financial upgraded BioMarin Pharmaceutical to a “strong-buy” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $90.00.

BioMarin Pharmaceutical Price Performance

NASDAQ BMRN opened at $54.14 on Friday. The company has a current ratio of 5.21, a quick ratio of 3.50 and a debt-to-equity ratio of 0.10. The company has a fifty day simple moving average of $58.44 and a 200 day simple moving average of $56.15. The company has a market cap of $10.41 billion, a P/E ratio of 30.42, a P/E/G ratio of 0.55 and a beta of 0.25. BioMarin Pharmaceutical Inc. has a 1 year low of $50.76 and a 1 year high of $72.81.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 6,326 shares of the business’s stock in a transaction 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 $2,268,959.64. The trade was a 14.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Charles Greg Guyer sold 16,486 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $60.46, for a total transaction of $996,743.56. Following the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.85% of the stock is owned by insiders.

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.