Sector Gamma AS Decreases Position in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Sector Gamma AS has decreased its stake in BioMarin Pharmaceutical Inc. by 10.9%, reducing its holdings to 122,348 shares valued at approximately $6.7 million.
• The stock now constitutes 2.2% of Sector Gamma AS's portfolio, making it their 18th largest holding.
• Despite recent adjustments from various institutional investors, BioMarin has received an average target price of $93.26 from analysts, reflecting a generally positive sentiment towards the stock.

Sector Gamma AS trimmed its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 10.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 122,348 shares of the biotechnology company's stock after selling 15,000 shares during the quarter. BioMarin Pharmaceutical makes up 2.2% of Sector Gamma AS's portfolio, making the stock its 18th biggest holding. Sector Gamma AS owned 0.06% of BioMarin Pharmaceutical worth $6,725,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Byrne Financial Freedom LLC boosted its position in BioMarin Pharmaceutical by 4.4% during the first quarter. Byrne Financial Freedom LLC now owns 3,852 shares of the biotechnology company's stock worth $272,000 after purchasing an additional 161 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in BioMarin Pharmaceutical by 0.9% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 22,523 shares of the biotechnology company's stock worth $1,592,000 after purchasing an additional 197 shares in the last quarter. Securian Asset Management Inc. boosted its position in BioMarin Pharmaceutical by 1.4% during the second quarter. Securian Asset Management Inc. now owns 14,604 shares of the biotechnology company's stock worth $803,000 after purchasing an additional 197 shares in the last quarter. Xponance Inc. lifted its position in shares of BioMarin Pharmaceutical by 0.6% in the first quarter. Xponance Inc. now owns 31,877 shares of the biotechnology company's stock valued at $2,253,000 after acquiring an additional 202 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of BioMarin Pharmaceutical by 5.0% in the first quarter. Nisa Investment Advisors LLC now owns 4,572 shares of the biotechnology company's stock valued at $323,000 after acquiring an additional 217 shares in the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Trading Up 2.2%

Shares of BMRN stock opened at $54.55 on Friday. The firm's 50-day simple moving average is $55.35 and its 200-day simple moving average is $57.29. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.56 and a quick ratio of 3.60. BioMarin Pharmaceutical Inc. has a 1-year low of $51.56 and a 1-year high of $73.51. The firm has a market cap of $10.47 billion, a P/E ratio of 16.19, a PEG ratio of 0.67 and a beta of 0.33.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BMRN shares. Raymond James Financial started coverage on BioMarin Pharmaceutical in a research report on Wednesday, September 3rd. They issued an "outperform" rating and a $85.00 price objective on the stock. Zacks Research downgraded BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Guggenheim upped their price objective on BioMarin Pharmaceutical from $101.00 to $106.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Morgan Stanley reduced their price objective 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. Finally, Wall Street Zen downgraded BioMarin Pharmaceutical from a "strong-buy" rating to a "buy" rating in a research report on Saturday, October 11th. Thirteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $93.26.

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.

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