Bessemer Group Inc. Has $5.05 Million Stock Holdings in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Bessemer Group Inc. boosted its BioMarin Pharmaceutical stake by 41.9% in the first quarter, ending with 89,439 shares valued at about $5.05 million.
• Institutional ownership remains very high, with 98.71% of BioMarin’s stock held by hedge funds and other institutions, and several other firms also recently added to or increased positions.
• Analyst sentiment is mixed but generally positive: the stock has a Moderate Buy consensus rating with a target price of $88.26, though some firms recently trimmed price targets and one downgraded the shares to hold.

Bessemer Group Inc. increased its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 41.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,439 shares of the biotechnology company's stock after acquiring an additional 26,403 shares during the period. Bessemer Group Inc.'s holdings in BioMarin Pharmaceutical were worth $5,053,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Activest Wealth Management bought a new position in shares of BioMarin Pharmaceutical in the fourth quarter valued at approximately $26,000. CIBC Private Wealth Group LLC grew its holdings in BioMarin Pharmaceutical by 38.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company's stock worth $39,000 after buying an additional 179 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in BioMarin Pharmaceutical in the 3rd quarter valued at $40,000. V Square Quantitative Management LLC purchased a new stake in BioMarin Pharmaceutical in the 4th quarter valued at $45,000. Finally, Parallel Advisors LLC lifted 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 acquiring an additional 295 shares in the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BMRN. Truist Financial raised shares of BioMarin Pharmaceutical to a "strong-buy" rating in a report on Wednesday, March 25th. Royal Bank Of Canada dropped their price target on shares of BioMarin Pharmaceutical from $66.00 to $62.00 and set a "sector perform" rating on the stock in a research report on Tuesday, July 7th. Morgan Stanley cut their price target on shares of BioMarin Pharmaceutical from $120.00 to $119.00 and set an "overweight" rating on the stock in a report on Tuesday, May 5th. Sanford C. Bernstein reduced their price objective on shares of BioMarin Pharmaceutical from $94.00 to $82.00 and set an "outperform" rating for the company in a research report on Tuesday, May 5th. Finally, Wall Street Zen lowered shares of BioMarin Pharmaceutical from a "buy" rating to a "hold" rating in a research note on Saturday, June 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.26.

BioMarin Pharmaceutical Stock Down 0.8%

BMRN stock opened at $59.11 on Tuesday. The stock has a market cap of $11.42 billion, a P/E ratio of 43.15, a P/E/G ratio of 0.45 and a beta of 0.24. The company has a current ratio of 5.81, a quick ratio of 4.20 and a debt-to-equity ratio of 0.23. The stock's fifty day simple moving average is $56.05 and its two-hundred day simple moving average is $56.83. BioMarin Pharmaceutical Inc. has a 1-year low of $49.26 and a 1-year high of $66.28.

Insider Activity at BioMarin Pharmaceutical

In related news, EVP Gregory R. Friberg sold 3,281 shares of the business's stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $53.85, for a total value of $176,681.85. Following the transaction, the executive vice president directly owned 51,818 shares of the company's stock, valued at approximately $2,790,399.30. The trade was a 5.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.68% of the stock is owned by insiders.

BioMarin Pharmaceutical 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.

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