PKO Investment Management Joint Stock Co bought a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 12,000 shares of the biotechnology company's stock, valued at approximately $789,000.
A number of other large investors have also recently made changes to their positions in the stock. Norges Bank bought a new position in BioMarin Pharmaceutical in the fourth quarter worth about $234,645,000. Capital Research Global Investors raised its holdings in BioMarin Pharmaceutical by 23.8% in the fourth quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company's stock worth $853,944,000 after purchasing an additional 2,496,817 shares in the last quarter. Soleus Capital Management L.P. bought a new position in BioMarin Pharmaceutical in the fourth quarter worth about $65,822,000. Dodge & Cox raised its holdings in BioMarin Pharmaceutical by 6.1% in the fourth quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company's stock worth $969,270,000 after purchasing an additional 847,917 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in BioMarin Pharmaceutical by 114.5% in the fourth quarter. AQR Capital Management LLC now owns 1,283,599 shares of the biotechnology company's stock worth $84,371,000 after purchasing an additional 685,099 shares in the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at BioMarin Pharmaceutical
In other news, CAO Erin Burkhart sold 1,295 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total transaction of $92,618.40. Following the completion of the transaction, the chief accounting officer now directly owns 16,955 shares of the company's stock, valued at approximately $1,212,621.60. The trade was a 7.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 3,354 shares of company stock valued at $216,269 in the last three months. 0.85% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on BMRN shares. UBS Group boosted their target price on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Piper Sandler boosted their target price on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Cantor Fitzgerald restated an "overweight" rating and set a $90.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Bank of America upped their price objective on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $70.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, BioMarin Pharmaceutical has an average rating of "Moderate Buy" and a consensus price target of $93.45.
Check Out Our Latest Stock Report on BioMarin Pharmaceutical
BioMarin Pharmaceutical Trading Down 1.8%
NASDAQ BMRN traded down $1.02 during trading on Monday, hitting $57.05. The stock had a trading volume of 1,912,176 shares, compared to its average volume of 1,874,029. The company has a market capitalization of $10.94 billion, a PE ratio of 25.93, a PEG ratio of 0.61 and a beta of 0.27. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11. The firm has a 50 day moving average price of $60.79 and a 200 day moving average price of $64.44. BioMarin Pharmaceutical Inc. has a twelve month low of $52.93 and a twelve month high of $94.85.
About BioMarin Pharmaceutical
(
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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