Two Sigma Advisers LP Reduces Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Two Sigma Advisers LP cut its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 41.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,014 shares of the biotechnology company's stock after selling 74,300 shares during the period. Two Sigma Advisers LP owned about 0.06% of BioMarin Pharmaceutical worth $7,034,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in BioMarin Pharmaceutical by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 19,372,185 shares of the biotechnology company's stock valued at $1,273,334,000 after purchasing an additional 93,531 shares during the last quarter. Dodge & Cox lifted its position in shares of BioMarin Pharmaceutical by 6.1% in the 4th quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company's stock worth $969,270,000 after acquiring an additional 847,917 shares during the period. Capital Research Global Investors lifted its stake in BioMarin Pharmaceutical by 23.8% during the fourth quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company's stock worth $853,944,000 after purchasing an additional 2,496,817 shares during the period. Norges Bank bought a new position in shares of BioMarin Pharmaceutical in the fourth quarter valued at about $234,645,000. Finally, Geode Capital Management LLC increased its holdings in BioMarin Pharmaceutical by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 3,288,778 shares of the biotechnology company's stock valued at $215,784,000 after purchasing an additional 28,728 shares during the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Erin Burkhart sold 1,786 shares of the company's 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 now directly owns 14,173 shares of the company's stock, valued at approximately $840,600.63. This represents a 11.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 3,354 shares of company stock valued at $216,269 in the last ninety days. Insiders own 0.85% of the company's stock.

BioMarin Pharmaceutical Stock Up 0.3%

Shares of BMRN traded up $0.18 during midday trading on Thursday, hitting $58.27. The company had a trading volume of 837,772 shares, compared to its average volume of 1,867,065. BioMarin Pharmaceutical Inc. has a 1 year low of $52.93 and a 1 year high of $94.85. The company's 50-day simple moving average is $61.62 and its 200-day simple moving average is $64.61. 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 has a market capitalization of $11.18 billion, a P/E ratio of 26.49, a P/E/G ratio of 0.61 and a beta of 0.27.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BMRN. Scotiabank boosted their price target on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a "sector perform" rating in a research note on Thursday, February 20th. Citigroup lowered their target price on shares of BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Bank of America upped their target price on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Piper Sandler upped their price objective on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Finally, The Goldman Sachs Group cut their price target on shares of BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Six analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $93.45.

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.