Thornburg Investment Management Inc. Sells 11,454 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Thornburg Investment Management Inc. trimmed its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 11.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 85,427 shares of the biotechnology company's stock after selling 11,454 shares during the quarter. Thornburg Investment Management Inc.'s holdings in BioMarin Pharmaceutical were worth $6,039,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of BMRN. Dodge & Cox boosted its stake in shares of 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 grew its position in shares of BioMarin Pharmaceutical by 23.8% during the 4th quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company's stock valued at $853,944,000 after acquiring an additional 2,496,817 shares during the period. Geode Capital Management LLC lifted its stake in 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 purchasing an additional 28,728 shares in the last quarter. Northern Trust Corp increased its holdings 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 increased its holdings 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.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,786 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $59.31, for a total transaction of $105,927.66. Following the completion of the sale, the chief accounting officer directly owned 14,173 shares of the company's stock, valued at $840,600.63. This trade represents a 11.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.85% of the stock is owned by company insiders.

BioMarin Pharmaceutical Stock Up 0.5%

Shares of BMRN traded up $0.29 during midday trading on Friday, reaching $58.14. 3,817,399 shares of the stock were exchanged, compared to its average volume of 1,860,661. BioMarin Pharmaceutical Inc. has a 12-month low of $52.93 and a 12-month high of $94.85. The firm has a 50 day simple moving average of $57.09 and a 200-day simple moving average of $61.83. The company has a quick ratio of 3.49, a current ratio of 5.52 and a debt-to-equity ratio of 0.10. The company has a market cap of $11.15 billion, a price-to-earnings ratio of 21.61, a P/E/G ratio of 0.81 and a beta of 0.17.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wall Street Zen lowered shares of BioMarin Pharmaceutical from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. Morgan Stanley decreased their price target on shares of BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating on the stock in a report on Tuesday, July 22nd. Wolfe Research set a $95.00 price target on shares of BioMarin Pharmaceutical and gave the stock an "outperform" rating in a report on Tuesday, July 15th. The Goldman Sachs Group decreased their price target on shares of BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Finally, Citigroup decreased their price target on shares of BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Six investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, BioMarin Pharmaceutical has a consensus rating of "Moderate Buy" and an average price target of $93.74.

BioMarin Pharmaceutical 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.