BioMarin Pharmaceutical Inc. $BMRN Stake Cut by Asset Management One Co. Ltd.

Key Points

• Asset Management One Co. Ltd. reduced its BioMarin stake by 92.5% in Q4, selling 81,858 shares and retaining 6,634 shares worth about $398,000.
• Company insiders also sold meaningful positions: EVP Charles Greg Guyer sold 16,486 shares at $60.46 and EVP Gregory R. Friberg sold 6,326 shares at $60.38, cutting their holdings roughly 17% and 14%, respectively.
• Institutional investors own 98.71% of the stock, and analysts have a consensus “Moderate Buy” rating with an average target price of $90.

Asset Management One Co. Ltd. reduced its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 92.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,634 shares of the biotechnology company's stock after selling 81,858 shares during the period. Asset Management One Co. Ltd.'s holdings in BioMarin Pharmaceutical were worth $398,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. lifted its stake in BioMarin Pharmaceutical by 17.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,681 shares of the biotechnology company's stock worth $635,000 after acquiring an additional 1,581 shares in the last quarter. Parcion Private Wealth LLC acquired a new position in BioMarin Pharmaceutical in the 4th quarter worth about $421,000. KBC Group NV increased its position in BioMarin Pharmaceutical by 10.0% in the 4th quarter. KBC Group NV now owns 168,779 shares of the biotechnology company's stock worth $10,031,000 after purchasing an additional 15,362 shares during the last quarter. Farther Finance Advisors LLC increased its position in BioMarin Pharmaceutical by 977.1% in the 4th quarter. Farther Finance Advisors LLC now owns 4,373 shares of the biotechnology company's stock worth $260,000 after purchasing an additional 3,967 shares during the last quarter. Finally, Assetmark Inc. increased its position in BioMarin Pharmaceutical by 32.0% in the 4th quarter. Assetmark Inc. now owns 19,068 shares of the biotechnology company's stock worth $1,133,000 after purchasing an additional 4,622 shares during the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Charles Greg Guyer sold 16,486 shares of the business's stock in a transaction on 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 owned 79,953 shares in the company, valued at $4,833,958.38. The trade was a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Gregory R. Friberg sold 6,326 shares of the company's 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 completion of the sale, the executive vice president owned 37,578 shares of the company's stock, valued at $2,268,959.64. This represents a 14.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.85% of the company's stock.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $53.18 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.50 and a current ratio of 5.21. The firm has a market cap of $10.28 billion, a P/E ratio of 29.88, a P/E/G ratio of 0.53 and a beta of 0.29. The business's fifty day moving average is $57.53 and its two-hundred day moving average is $56.27. BioMarin Pharmaceutical Inc. has a 52 week low of $50.76 and a 52 week high of $66.28.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BMRN shares. Stifel Nicolaus set a $68.00 price objective on BioMarin Pharmaceutical in a report on Tuesday, February 24th. Barclays increased their price objective on BioMarin Pharmaceutical from $80.00 to $105.00 and gave the company an "overweight" rating in a report on Tuesday, March 3rd. Canaccord Genuity Group increased their price objective on BioMarin Pharmaceutical from $98.00 to $104.00 and gave the company a "buy" rating in a report on Thursday, February 26th. Wolfe Research reissued an "outperform" rating on shares of BioMarin Pharmaceutical in a report on Monday, March 16th. Finally, Piper Sandler lowered their price objective on BioMarin Pharmaceutical from $122.00 to $84.00 and set an "overweight" rating on the stock in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $90.00.

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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