Cwm LLC Sells 77,791 Shares of BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Cwm LLC reduced its stake in BioMarin by 47.3%, selling 77,791 shares in Q4 and now holds 86,616 shares worth about $5.15 million per its 13F filing.
• Analysts are mixed but overall cautious: MarketBeat shows a consensus rating of "Moderate Buy" with an average price target of $90, while several firms recently cut targets (Piper Sandler to $84; BofA to $85) and Weiss Ratings downgraded to a sell.
• Company insiders have been selling as well — two EVPs disclosed sales totaling 22,812 shares — and insiders now own just 0.85% of BioMarin's stock.

Cwm LLC lessened its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 47.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 86,616 shares of the biotechnology company's stock after selling 77,791 shares during the quarter. Cwm LLC's holdings in BioMarin Pharmaceutical were worth $5,148,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Capital Research Global Investors raised its stake in BioMarin Pharmaceutical by 547.5% in the third quarter. Capital Research Global Investors now owns 2,537,596 shares of the biotechnology company's stock valued at $137,436,000 after purchasing an additional 2,145,717 shares in the last quarter. Viking Global Investors LP boosted its position in shares of BioMarin Pharmaceutical by 13.8% during the 2nd quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company's stock worth $675,505,000 after acquiring an additional 1,488,552 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in BioMarin Pharmaceutical by 312.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,419,067 shares of the biotechnology company's stock valued at $84,335,000 after acquiring an additional 1,074,929 shares during the last quarter. LSV Asset Management increased its stake in BioMarin Pharmaceutical by 2,445.5% in the third quarter. LSV Asset Management now owns 845,500 shares of the biotechnology company's stock valued at $45,792,000 after acquiring an additional 812,284 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in BioMarin Pharmaceutical by 42.7% in the third quarter. Dimensional Fund Advisors LP now owns 2,245,186 shares of the biotechnology company's stock valued at $121,597,000 after acquiring an additional 671,566 shares during the last quarter. Institutional investors own 98.71% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BMRN shares. Piper Sandler decreased their price objective on shares of BioMarin Pharmaceutical from $122.00 to $84.00 and set an "overweight" rating on the stock in a research note on Friday, February 6th. Truist Financial raised shares of BioMarin Pharmaceutical to a "strong-buy" rating in a research note on Wednesday, March 25th. Bank of America decreased their price objective on shares of BioMarin Pharmaceutical from $97.00 to $85.00 and set a "buy" rating on the stock in a research note on Wednesday, March 11th. Weiss Ratings cut shares of BioMarin Pharmaceutical from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, April 16th. Finally, Loop Capital set a $105.00 price objective on shares of BioMarin Pharmaceutical in a research note on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $90.00.

BioMarin Pharmaceutical Stock Down 0.5%

BMRN stock opened at $54.62 on Wednesday. The stock has a market capitalization of $10.50 billion, a P/E ratio of 30.69, a price-to-earnings-growth ratio of 0.54 and a beta of 0.29. The company has a current ratio of 5.21, a quick ratio of 3.50 and a debt-to-equity ratio of 0.10. BioMarin Pharmaceutical Inc. has a 12 month low of $50.76 and a 12 month high of $66.28. The firm has a 50-day moving average price of $57.90 and a 200-day moving average price of $56.31.

Insider Transactions at BioMarin Pharmaceutical

In other 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 completion of the transaction, the executive vice president owned 37,578 shares of the company's stock, valued at approximately $2,268,959.64. This represents a 14.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 transaction, the executive vice president directly owned 79,953 shares of the company's stock, valued at $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 currently owned by corporate insiders.

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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