Sector Gamma AS Sells 80,000 Shares of BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Sector Gamma AS has reduced its stake in BioMarin Pharmaceutical Inc. by 36.8%, now holding 137,348 shares after selling 80,000 during the first quarter, which constitutes approximately 3.1% of their holdings.
• Several other institutional investors have increased or initiated stakes in BioMarin, with Aberdeen Group plc boosting its stake by 8.5% and Fox Run Management L.L.C. increasing theirs by 181.3% during the same period.
• BioMarin's stock currently has mixed ratings from analysts, with a consensus rating of "Moderate Buy" and an average target price of $93.17, reflecting differing expectations on its future performance.

Sector Gamma AS reduced its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 36.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 137,348 shares of the biotechnology company's stock after selling 80,000 shares during the quarter. BioMarin Pharmaceutical makes up 3.1% of Sector Gamma AS's portfolio, making the stock its 13th largest holding. Sector Gamma AS owned approximately 0.07% of BioMarin Pharmaceutical worth $9,709,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of BMRN. Nuveen LLC bought a new stake in BioMarin Pharmaceutical during the 1st quarter worth about $184,475,000. Capital Research Global Investors grew its stake in shares of 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 valued at $853,944,000 after buying an additional 2,496,817 shares in the last quarter. Soleus Capital Management L.P. acquired a new stake in BioMarin Pharmaceutical during the 4th quarter valued at $65,822,000. AQR Capital Management LLC grew its holdings in BioMarin Pharmaceutical by 114.5% in 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, Marshall Wace LLP bought a new position in shares of BioMarin Pharmaceutical during the fourth quarter worth approximately $44,735,000. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Trading Down 0.2%

BMRN traded down $0.13 during midday trading on Tuesday, reaching $57.31. 1,434,070 shares of the company's stock traded hands, compared to its average volume of 1,938,624. 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 52 week low of $52.93 and a 52 week high of $94.85. The stock has a market capitalization of $11.00 billion, a price-to-earnings ratio of 17.01, a P/E/G ratio of 0.74 and a beta of 0.18. The firm has a fifty day moving average of $57.42 and a two-hundred day moving average of $61.50.

Wall Street Analysts Forecast Growth

BMRN has been the subject of a number of research analyst reports. Zacks Research cut BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. JPMorgan Chase & Co. raised their price objective on BioMarin Pharmaceutical from $108.00 to $113.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. UBS Group lifted their price objective on BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Morgan Stanley reduced their price target on shares of BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating for the company in a report on Tuesday, July 22nd. Finally, Citigroup cut their target price on BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Eighteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, BioMarin Pharmaceutical has an average rating of "Moderate Buy" and an average target price 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.