BioMarin Pharmaceutical Inc. $BMRN Shares Sold by Groupama Asset Managment

Key Points

• Groupama Asset Management sold 90,606 shares of BioMarin Pharmaceutical, reducing its stake by 87.6%, leaving it with 12,818 shares valued at $916,000.
• A number of institutional investors, including NewEdge Advisors LLC and First Trust Advisors LP, have significantly increased their stakes in BioMarin Pharmaceutical during the previous quarter.
• BioMarin Pharmaceutical has an average rating of "Moderate Buy" from analysts, with a consensus price target of $93.17, despite a diverse range of price targets from various firms.

Groupama Asset Managment reduced its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 87.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,818 shares of the biotechnology company's stock after selling 90,606 shares during the period. Groupama Asset Managment's holdings in BioMarin Pharmaceutical were worth $916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in BMRN. Nuveen LLC acquired a new position in BioMarin Pharmaceutical during the 1st quarter valued at about $184,475,000. Soleus Capital Management L.P. acquired a new position in BioMarin Pharmaceutical during the 4th quarter valued at about $65,822,000. Fuller & Thaler Asset Management Inc. acquired a new position in BioMarin Pharmaceutical during the 1st quarter valued at about $59,125,000. AQR Capital Management LLC increased its position in BioMarin Pharmaceutical by 114.5% during the 4th quarter. AQR Capital Management LLC now owns 1,283,599 shares of the biotechnology company's stock valued at $84,371,000 after buying an additional 685,099 shares in the last quarter. Finally, Vestal Point Capital LP increased 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 valued at $56,528,000 after buying an additional 460,000 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN traded down $0.1240 during mid-day trading on Monday, reaching $58.4560. The company had a trading volume of 952,255 shares, compared to its average volume of 1,928,860. 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 stock has a market capitalization of $11.22 billion, a P/E ratio of 17.33, a PEG ratio of 0.75 and a beta of 0.18. The stock has a 50 day moving average of $57.49 and a two-hundred day moving average of $61.35.

Wall Street Analyst Weigh In

BMRN has been the topic of several recent analyst reports. Citigroup reduced their target price on BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Morgan Stanley reduced their target price on BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 22nd. UBS Group increased their price objective on BioMarin Pharmaceutical from $113.00 to $114.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. The Goldman Sachs Group cut their price objective on BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Finally, Zacks Research lowered BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Eighteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $93.17.

About BioMarin Pharmaceutical

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.