TD Asset Management Inc Trims Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Key Points

• TD Asset Management Inc reduced its holdings in BioMarin Pharmaceutical by 62.7% in the first quarter, now owning 35,122 shares worth approximately $2.48 million.
• Several large investors have significantly increased their positions in BioMarin, with Farther Finance Advisors LLC and LRI Investments LLC boosting their stakes by 95.9% and 856.9%, respectively.
• Wall Street analysts have mixed views on BioMarin’s stock, with six analysts rating it as a hold while nineteen others have given it a buy, resulting in an average target price of $93.74.

TD Asset Management Inc trimmed its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 62.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,122 shares of the biotechnology company's stock after selling 59,008 shares during the period. TD Asset Management Inc's holdings in BioMarin Pharmaceutical were worth $2,483,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of BMRN. Dodge & Cox raised its position in BioMarin Pharmaceutical by 6.1% during the fourth quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company's stock valued at $969,270,000 after purchasing an additional 847,917 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of BioMarin Pharmaceutical by 23.8% in the 4th quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company's stock worth $853,944,000 after buying an additional 2,496,817 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of BioMarin Pharmaceutical by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 3,288,778 shares of the biotechnology company's stock worth $215,784,000 after buying an additional 28,728 shares during the last quarter. Northern Trust Corp boosted its stake in shares of BioMarin Pharmaceutical by 16.2% in the 4th quarter. Northern Trust Corp now owns 1,725,039 shares of the biotechnology company's stock worth $113,387,000 after buying an additional 240,681 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of 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 worth $84,371,000 after buying an additional 685,099 shares during the last quarter. 98.71% of the stock is owned by institutional investors.

BioMarin Pharmaceutical Price Performance

Shares of BMRN stock traded down $1.22 during mid-day trading on Wednesday, hitting $60.71. 1,112,099 shares of the stock were exchanged, compared to its average volume of 1,922,404. The firm has a fifty day moving average of $57.24 and a 200 day moving average of $61.79. 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. The company has a market cap of $11.64 billion, a PE ratio of 18.00, a price-to-earnings-growth ratio of 0.83 and a beta of 0.18.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,786 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $59.31, for a total value of $105,927.66. Following the completion of the sale, the chief accounting officer owned 14,173 shares in the company, valued at approximately $840,600.63. This represents a 11.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.85% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on BMRN shares. UBS Group lifted their target price on BioMarin Pharmaceutical from $113.00 to $114.00 and gave the company a "buy" rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their target price on BioMarin Pharmaceutical from $108.00 to $113.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Wedbush reiterated an "outperform" rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a research report on Tuesday. Morgan Stanley lowered their target price 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, Wolfe Research set a $95.00 price target on BioMarin Pharmaceutical and gave the company an "outperform" rating in a report on Tuesday, July 15th. Six research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $94.29.

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.