Tidal Investments LLC Reduces Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Tidal Investments LLC trimmed its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 57.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,039 shares of the biotechnology company's stock after selling 17,428 shares during the quarter. Tidal Investments LLC's holdings in BioMarin Pharmaceutical were worth $857,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund increased its stake in BioMarin Pharmaceutical by 0.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 38,738 shares of the biotechnology company's stock worth $2,546,000 after buying an additional 164 shares during the period. Fifth Third Bancorp increased its position in shares of BioMarin Pharmaceutical by 13.9% in the 4th quarter. Fifth Third Bancorp now owns 1,351 shares of the biotechnology company's stock valued at $89,000 after purchasing an additional 165 shares during the last quarter. Freedom Investment Management Inc. increased its position in shares of BioMarin Pharmaceutical by 3.8% in the 4th quarter. Freedom Investment Management Inc. now owns 5,022 shares of the biotechnology company's stock valued at $330,000 after purchasing an additional 184 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in shares of BioMarin Pharmaceutical by 64.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company's stock valued at $41,000 after purchasing an additional 233 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of BioMarin Pharmaceutical by 27.5% in the 4th quarter. Blue Trust Inc. now owns 1,095 shares of the biotechnology company's stock valued at $77,000 after purchasing an additional 236 shares during the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BMRN. The Goldman Sachs Group dropped their price objective on shares of BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Piper Sandler upped their target price on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Cantor Fitzgerald restated an "overweight" rating and issued a $90.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. UBS Group upped their target price on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Finally, Bank of America upped their target price on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $93.45.

BioMarin Pharmaceutical Price Performance

NASDAQ:BMRN traded up $0.46 during mid-day trading on Thursday, hitting $58.55. 3,982,519 shares of the company's stock traded hands, compared to its average volume of 1,879,134. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33. The firm's 50 day simple moving average is $61.62 and its 200 day simple moving average is $64.61. BioMarin Pharmaceutical Inc. has a 1 year low of $52.93 and a 1 year high of $94.85. The company has a market cap of $11.23 billion, a PE ratio of 26.61, a price-to-earnings-growth ratio of 0.61 and a beta of 0.27.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,786 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $59.31, for a total transaction of $105,927.66. Following the transaction, the chief accounting officer now directly owns 14,173 shares of the company's stock, valued at $840,600.63. The trade was a 11.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 3,354 shares of company stock valued at $216,269. Insiders own 0.85% of the company's stock.

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.