Covea Finance increased its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 37.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 106,300 shares of the biotechnology company's stock after purchasing an additional 29,200 shares during the quarter. Covea Finance owned approximately 0.06% of BioMarin Pharmaceutical worth $7,514,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in BMRN. Vestal Point Capital LP lifted its position in BioMarin Pharmaceutical by 115.0% during the 4th quarter. Vestal Point Capital LP now owns 860,000 shares of the biotechnology company's stock worth $56,528,000 after buying an additional 460,000 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of BioMarin Pharmaceutical in the fourth quarter valued at about $257,000. Smartleaf Asset Management LLC raised its holdings in BioMarin Pharmaceutical by 111.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company's stock worth $58,000 after acquiring an additional 466 shares in the last quarter. Natixis Advisors LLC acquired a new position in BioMarin Pharmaceutical during the fourth quarter valued at approximately $1,297,000. Finally, Principal Securities Inc. boosted its position in BioMarin Pharmaceutical by 24.0% during the fourth quarter. Principal Securities Inc. now owns 1,749 shares of the biotechnology company's stock valued at $115,000 after purchasing an additional 339 shares during the last quarter. Institutional investors own 98.71% of the company's stock.
Insider Activity at BioMarin Pharmaceutical
In related news, CAO Erin Burkhart sold 1,786 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $59.31, for a total transaction of $105,927.66. Following the transaction, the chief accounting officer now directly owns 14,173 shares of the company's stock, valued at approximately $840,600.63. This trade represents a 11.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.85% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the company. Wall Street Zen raised BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 25th. The Goldman Sachs Group decreased 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. Citigroup lowered their target price on shares of BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Finally, Oppenheimer upgraded shares of BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 price target for the company in a research note on Monday, February 24th. Six investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $93.45.
Check Out Our Latest Report on BMRN
BioMarin Pharmaceutical Stock Performance
Shares of BioMarin Pharmaceutical stock traded down $0.24 on Friday, hitting $55.00. The stock had a trading volume of 4,711,888 shares, compared to its average volume of 1,720,407. The stock has a market cap of $10.55 billion, a price-to-earnings ratio of 20.45, a price-to-earnings-growth ratio of 0.75 and a beta of 0.19. The company has a quick ratio of 3.49, a current ratio of 5.52 and a debt-to-equity ratio of 0.10. BioMarin Pharmaceutical Inc. has a twelve month low of $52.93 and a twelve month high of $94.85. The business's 50 day moving average is $58.88 and its two-hundred day moving average is $63.65.
BioMarin Pharmaceutical Company Profile
(
Free Report)
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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