Deutsche Bank AG Has $133.42 Million Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Key Points

• Deutsche Bank AG reduced its stake in BioMarin Pharmaceutical Inc. by 35.6%, selling over one million shares and leaving it with 1,887,353 shares, valued at approximately $133 million.
• Despite the decline in Deutsche Bank's holdings, several institutional investors, such as Byrne Financial Freedom LLC and Farther Finance Advisors LLC, have increased their positions in BioMarin during the same period.
• BioMarin's stock is currently down 3.6% and has a consensus rating of "Moderate Buy" with a target price of $93.17 from analysts.

Deutsche Bank AG decreased its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 35.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,887,353 shares of the biotechnology company's stock after selling 1,045,165 shares during the period. Deutsche Bank AG owned about 0.98% of BioMarin Pharmaceutical worth $133,417,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMRN. Bank of Nova Scotia raised its stake in shares of BioMarin Pharmaceutical by 15.5% in the fourth quarter. Bank of Nova Scotia now owns 15,507 shares of the biotechnology company's stock valued at $1,019,000 after acquiring an additional 2,083 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of BioMarin Pharmaceutical by 4.1% in the fourth quarter. Renaissance Technologies LLC now owns 435,871 shares of the biotechnology company's stock valued at $28,650,000 after acquiring an additional 17,000 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of BioMarin Pharmaceutical by 5.6% in the fourth quarter. Bessemer Group Inc. now owns 5,301 shares of the biotechnology company's stock valued at $349,000 after acquiring an additional 281 shares during the last quarter. Treasurer of the State of North Carolina raised its stake in shares of BioMarin Pharmaceutical by 2.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 95,864 shares of the biotechnology company's stock valued at $6,301,000 after acquiring an additional 1,900 shares during the last quarter. Finally, Covestor Ltd raised its stake in shares of BioMarin Pharmaceutical by 24.1% in the fourth quarter. Covestor Ltd now owns 1,278 shares of the biotechnology company's stock valued at $84,000 after acquiring an additional 248 shares during the last quarter. Institutional investors own 98.71% of the company's stock.

BioMarin Pharmaceutical Stock Down 1.4%

BMRN traded down $0.84 during trading on Thursday, hitting $57.46. The company had a trading volume of 494,513 shares, compared to its average volume of 1,936,343. The company has a market capitalization of $11.03 billion, a PE ratio of 17.05, a PEG ratio of 0.73 and a beta of 0.18. BioMarin Pharmaceutical Inc. has a one year low of $52.93 and a one year high of $94.85. The firm's 50-day moving average price is $57.33 and its 200 day moving average price is $61.64. The company has a quick ratio of 3.60, a current ratio of 5.56 and a debt-to-equity ratio of 0.10.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,786 shares of the business'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 sale, the chief accounting officer directly owned 14,173 shares of the company's stock, valued at $840,600.63. The trade was a 11.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.85% of the stock is owned by company insiders.

Analysts Set New Price Targets

BMRN has been the subject of a number of research reports. Wedbush reissued an "outperform" rating and issued a $94.00 price target on shares of BioMarin Pharmaceutical in a report on Tuesday, August 5th. JPMorgan Chase & Co. raised their price target on shares of BioMarin Pharmaceutical from $108.00 to $113.00 and gave the company an "overweight" rating in a report on Monday, July 14th. The Goldman Sachs Group lowered their price target on shares of BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating for the company in a report on Monday, May 5th. Morgan Stanley lowered 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. Finally, UBS Group raised their price target on shares of BioMarin Pharmaceutical from $113.00 to $114.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Six analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $93.17.

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.