BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. decreased its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 83.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,336 shares of the biotechnology company's stock after selling 31,087 shares during the period. Pacer Advisors Inc.'s holdings in BioMarin Pharmaceutical were worth $448,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC raised its stake in BioMarin Pharmaceutical by 95.9% during the first quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company's stock valued at $29,000 after buying an additional 211 shares in the last quarter. LRI Investments LLC increased its holdings in shares of BioMarin Pharmaceutical by 856.9% in the 4th quarter. LRI Investments LLC now owns 488 shares of the biotechnology company's stock valued at $32,000 after acquiring an additional 437 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of BioMarin Pharmaceutical by 71.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company's stock valued at $37,000 after acquiring an additional 218 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of BioMarin Pharmaceutical by 64.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company's stock valued at $41,000 after acquiring an additional 233 shares in the last quarter. Finally, Vermillion & White Wealth Management Group LLC bought a new position in BioMarin Pharmaceutical during the fourth quarter worth $62,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Trading Down 1.6%

BioMarin Pharmaceutical stock opened at $57.85 on Friday. BioMarin Pharmaceutical Inc. has a 12-month low of $52.93 and a 12-month high of $94.85. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.52 and a quick ratio of 3.49. The stock has a market capitalization of $11.09 billion, a PE ratio of 21.51, a price-to-earnings-growth ratio of 0.81 and a beta of 0.17. The firm has a 50 day simple moving average of $57.09 and a 200-day simple moving average of $61.83.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. The Goldman Sachs Group lowered their target price on shares of BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Morgan Stanley decreased their price target on shares of BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating for the company in a report on Tuesday, July 22nd. Citigroup dropped their price objective on shares of BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. JPMorgan Chase & Co. raised their target price on shares of BioMarin Pharmaceutical from $108.00 to $113.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Finally, Wolfe Research set a $95.00 target price on BioMarin Pharmaceutical and gave the company an "outperform" rating in a report on Tuesday, July 15th. Six research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $93.74.

Insiders Place Their Bets

In other news, CAO Erin Burkhart sold 1,786 shares of BioMarin Pharmaceutical stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $59.31, for a total transaction of $105,927.66. Following the transaction, the chief accounting officer directly owned 14,173 shares in the company, valued at approximately $840,600.63. This trade represents a 11.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.85% of the stock is owned by company insiders.

BioMarin Pharmaceutical 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.

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