BioMarin Pharmaceutical Inc. $BMRN Position Lifted by C WorldWide Group Holding A S

Key Points

• C WorldWide Group Holding A S increased its BioMarin Pharmaceutical stake by 12.6% in the fourth quarter, bringing its holdings to 267,851 shares worth about $15.9 million.
• Institutional ownership remains very high, with 98.71% of BioMarin shares held by institutions. Several other funds also boosted their positions, including Federated Hermes and DNB Asset Management.
• BioMarin shares opened at $54.06, below recent analyst targets, while Wall Street sentiment remains positive overall with an average Moderate Buy rating and a consensus price target of $90.86.

C WorldWide Group Holding A S raised its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 12.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 267,851 shares of the biotechnology company's stock after acquiring an additional 30,000 shares during the quarter. C WorldWide Group Holding A S owned approximately 0.14% of BioMarin Pharmaceutical worth $15,918,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. boosted its stake in BioMarin Pharmaceutical by 292.6% during the 3rd quarter. Federated Hermes Inc. now owns 278,315 shares of the biotechnology company's stock valued at $15,074,000 after acquiring an additional 207,430 shares during the last quarter. Mediolanum International Funds Ltd boosted its stake in BioMarin Pharmaceutical by 56.2% during the 3rd quarter. Mediolanum International Funds Ltd now owns 137,675 shares of the biotechnology company's stock valued at $7,437,000 after acquiring an additional 49,534 shares during the last quarter. Rakuten Investment Management Inc. bought a new position in BioMarin Pharmaceutical during the 3rd quarter valued at $1,265,000. DNB Asset Management AS boosted its stake in BioMarin Pharmaceutical by 13.8% during the 3rd quarter. DNB Asset Management AS now owns 1,274,284 shares of the biotechnology company's stock valued at $69,015,000 after acquiring an additional 154,954 shares during the last quarter. Finally, New York Life Investment Management LLC bought a new position in BioMarin Pharmaceutical during the 3rd quarter valued at $1,071,000. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock opened at $54.06 on Monday. The firm's 50-day moving average is $56.38 and its 200-day moving average is $56.34. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.20 and a current ratio of 5.81. BioMarin Pharmaceutical Inc. has a 1 year low of $50.76 and a 1 year high of $66.28. The company has a market cap of $10.45 billion, a P/E ratio of 39.46, a PEG ratio of 0.40 and a beta of 0.23.

Insider Transactions at BioMarin Pharmaceutical

In related news, EVP Gregory R. Friberg sold 6,326 shares of the 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Charles Greg Guyer sold 16,486 shares of the stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $60.46, for a total transaction of $996,743.56. Following the completion of the sale, the executive vice president directly owned 79,953 shares in the company, valued at approximately $4,833,958.38. This trade represents a 17.09% decrease in their position. The SEC filing for this sale provides additional information. 0.85% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have commented on BMRN. Royal Bank Of Canada reiterated a "sector perform" rating and set a $66.00 price objective on shares of BioMarin Pharmaceutical in a research note on Tuesday, May 5th. Weiss Ratings upgraded shares of BioMarin Pharmaceutical from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, May 1st. Wolfe Research restated an "outperform" rating on shares of BioMarin Pharmaceutical in a research report on Monday, March 16th. Stifel Nicolaus set a $68.00 price target on shares of BioMarin Pharmaceutical in a research report on Tuesday, February 24th. Finally, Wells Fargo & Company raised their price target on shares of BioMarin Pharmaceutical from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $90.86.

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.

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