KBC Group NV Lowers Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

KBC Group NV reduced its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 45.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 125,300 shares of the biotechnology company's stock after selling 105,398 shares during the quarter. KBC Group NV owned approximately 0.07% of BioMarin Pharmaceutical worth $8,857,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its holdings in BioMarin Pharmaceutical by 1.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 101,937 shares of the biotechnology company's stock worth $6,926,000 after buying an additional 1,452 shares during the period. Alta Wealth Advisors LLC bought a new stake in BioMarin Pharmaceutical in the first quarter valued at approximately $526,000. Robeco Institutional Asset Management B.V. increased its position in BioMarin Pharmaceutical by 12.3% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 97,261 shares of the biotechnology company's stock valued at $6,875,000 after purchasing an additional 10,687 shares during the period. Wealthquest Corp bought a new position in BioMarin Pharmaceutical during the 1st quarter worth approximately $234,000. Finally, Lecap Asset Management Ltd. raised its holdings in BioMarin Pharmaceutical by 15.7% during the 1st quarter. Lecap Asset Management Ltd. now owns 9,822 shares of the biotechnology company's stock worth $694,000 after purchasing an additional 1,330 shares during the last quarter. Institutional investors own 98.71% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BMRN shares. Morgan Stanley began coverage on shares of BioMarin Pharmaceutical in a research report on Thursday. They set an "overweight" rating and a $97.00 price objective for the company. Wall Street Zen raised shares of 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 price target on BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating for the company in a report on Monday, May 5th. Finally, Citigroup dropped their price objective on BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Six analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.61.

BioMarin Pharmaceutical Stock Up 0.1%

BMRN stock traded up $0.08 during midday trading on Friday, reaching $57.25. 1,376,747 shares of the company's stock traded hands, compared to its average volume of 1,731,510. The company has a market cap of $10.98 billion, a price-to-earnings ratio of 21.28, a P/E/G ratio of 0.78 and a beta of 0.17. The firm's fifty day moving average price is $58.00 and its 200-day moving average price is $62.99. 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 52 week low of $52.93 and a 52 week high of $94.85.

Insider Buying and Selling at BioMarin Pharmaceutical

In other 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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.85% of the company's stock.

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.