BioMarin Pharmaceutical Inc. $BMRN Shares Sold by Point72 Europe London LLP

Key Points

• Point72 Europe London LLP reduced its stake in BioMarin Pharmaceutical Inc. by 10.1%, selling 6,161 shares to hold a total of 54,580 shares valued at approximately $3.86 million.
• Institutional investors now own 98.71% of BioMarin's stock, with several hedge funds significantly increasing their positions recently, such as Farther Finance Advisors LLC, which raised their stake by 95.9%.
• Analysts remain optimistic about BioMarin, with many providing ratings such as "buy" and "outperform" while setting a consensus target price of $93.17 on the stock.

Point72 Europe London LLP cut its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 10.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,580 shares of the biotechnology company's stock after selling 6,161 shares during the period. Point72 Europe London LLP's holdings in BioMarin Pharmaceutical were worth $3,858,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of BMRN. Farther Finance Advisors LLC boosted its stake in BioMarin Pharmaceutical by 95.9% in the 1st quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company's stock worth $29,000 after purchasing an additional 211 shares in the last quarter. LRI Investments LLC boosted its stake in BioMarin Pharmaceutical by 856.9% in the 4th quarter. LRI Investments LLC now owns 488 shares of the biotechnology company's stock worth $32,000 after purchasing an additional 437 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in BioMarin Pharmaceutical by 71.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company's stock valued at $37,000 after acquiring an additional 218 shares during the period. Brooklyn Investment Group lifted its stake in BioMarin Pharmaceutical by 2,250.0% during the 1st quarter. Brooklyn Investment Group now owns 564 shares of the biotechnology company's stock valued at $40,000 after acquiring an additional 540 shares during the period. Finally, Vermillion & White Wealth Management Group LLC acquired a new stake in BioMarin Pharmaceutical during the 4th quarter valued at approximately $62,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on BMRN. Wolfe Research set a $95.00 target price on shares of BioMarin Pharmaceutical and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Guggenheim upped their target price on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. UBS Group upped their target price on shares of BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Wall Street Zen raised shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. Finally, Morgan Stanley decreased their target price on shares of BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 22nd. Eighteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $93.43.

BioMarin Pharmaceutical Stock Down 3.8%

BioMarin Pharmaceutical stock traded down $2.23 during trading on Thursday, reaching $56.75. The stock had a trading volume of 2,345,466 shares, compared to its average volume of 1,924,548. BioMarin Pharmaceutical Inc. has a 52-week low of $52.93 and a 52-week high of $90.01. The business has a 50 day moving average price of $58.04 and a 200 day moving average price of $61.06. 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 cap of $10.90 billion, a PE ratio of 16.84, a P/E/G ratio of 0.74 and a beta of 0.35.

BioMarin Pharmaceutical Company 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.