Corebridge Financial Inc. Sells 5,143 Shares of BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Corebridge Financial Inc. reduced its position in BioMarin Pharmaceutical by 2.4%, owning approximately 0.11% of the company after selling 5,143 shares.
• Several large investors increased their stakes in BioMarin, with Vestal Point Capital LP notably raising its position by 115.0% in the fourth quarter.
• BioMarin's stock has a market capitalization of $11.23 billion and analysts have given it an average rating of "Moderate Buy," with a consensus target price of $93.17.

Corebridge Financial Inc. reduced its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 210,495 shares of the biotechnology company's stock after selling 5,143 shares during the quarter. Corebridge Financial Inc. owned 0.11% of BioMarin Pharmaceutical worth $14,880,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BMRN. Farther Finance Advisors LLC lifted its position in shares of BioMarin Pharmaceutical by 95.9% during the 1st quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company's stock worth $29,000 after buying an additional 211 shares during the last quarter. LRI Investments LLC increased its stake in shares of BioMarin Pharmaceutical by 856.9% in the fourth quarter. LRI Investments LLC now owns 488 shares of the biotechnology company's stock valued at $32,000 after buying an additional 437 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in shares of BioMarin Pharmaceutical by 71.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company's stock valued at $37,000 after buying an additional 218 shares during the period. Brooklyn Investment Group increased its stake in shares of BioMarin Pharmaceutical by 2,250.0% in the first quarter. Brooklyn Investment Group now owns 564 shares of the biotechnology company's stock valued at $40,000 after buying an additional 540 shares during the period. Finally, Vermillion & White Wealth Management Group LLC acquired a new stake in shares of BioMarin Pharmaceutical in the fourth quarter valued at about $62,000. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Up 1.0%

NASDAQ:BMRN traded up $0.59 on Friday, hitting $58.27. The stock had a trading volume of 1,269,740 shares, compared to its average volume of 1,926,321. BioMarin Pharmaceutical Inc. has a 52 week low of $52.93 and a 52 week high of $93.04. The company has a quick ratio of 3.60, a current ratio of 5.56 and a debt-to-equity ratio of 0.10. The business's fifty day moving average is $57.77 and its 200 day moving average is $61.19. The company has a market cap of $11.19 billion, a PE ratio of 17.29, a P/E/G ratio of 0.75 and a beta of 0.18.

Analysts Set New Price Targets

BMRN has been the subject of several recent analyst reports. The Goldman Sachs Group decreased their target price on BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Zacks Research cut BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Wedbush reaffirmed an "outperform" rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, August 5th. JPMorgan Chase & Co. raised their target price on BioMarin Pharmaceutical from $108.00 to $113.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Finally, UBS Group raised their target price on BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Eighteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.17.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.