Zurcher Kantonalbank Zurich Cantonalbank Sells 99,451 Shares of BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Zurcher Kantonalbank cut its stake by 61.8% in Q4, selling 99,451 BioMarin shares and now holds 61,400 shares valued at roughly $3.65 million.
• Company insiders also sold stock: EVP Charles Greg Guyer sold 16,486 shares (~$996,744) and EVP Gregory R. Friberg sold 6,326 shares, leaving insiders with about 0.85% ownership.
• Analysts collectively rate BioMarin a Moderate Buy with an average price target of $90, though individual targets vary widely (roughly $55–$105) and several firms have recently adjusted their views.

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 61.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,400 shares of the biotechnology company's stock after selling 99,451 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in BioMarin Pharmaceutical were worth $3,649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of BMRN. Quent Capital LLC purchased a new position in BioMarin Pharmaceutical in the 3rd quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of BioMarin Pharmaceutical during the third quarter valued at approximately $40,000. Smartleaf Asset Management LLC boosted its stake in shares of BioMarin Pharmaceutical by 92.5% during the third quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company's stock valued at $40,000 after purchasing an additional 360 shares during the period. V Square Quantitative Management LLC bought a new position in shares of BioMarin Pharmaceutical in the fourth quarter worth approximately $45,000. Finally, Parallel Advisors LLC grew its holdings in shares of BioMarin Pharmaceutical by 62.2% in the third quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company's stock worth $42,000 after purchasing an additional 295 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Price Performance

BMRN opened at $53.18 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.50 and a current ratio of 5.21. The stock has a market capitalization of $10.28 billion, a PE ratio of 29.88, a price-to-earnings-growth ratio of 0.53 and a beta of 0.29. The stock's 50 day moving average price is $57.53 and its 200-day moving average price is $56.28. BioMarin Pharmaceutical Inc. has a 52-week low of $50.76 and a 52-week high of $66.28.

Insiders Place Their Bets

In other news, EVP Charles Greg Guyer sold 16,486 shares of BioMarin Pharmaceutical stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $60.46, for a total transaction of $996,743.56. Following the sale, the executive vice president owned 79,953 shares of the company's stock, valued at approximately $4,833,958.38. The trade was a 17.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gregory R. Friberg sold 6,326 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $60.38, for a total transaction of $381,963.88. Following the sale, the executive vice president directly owned 37,578 shares in the company, valued at $2,268,959.64. The trade was a 14.41% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.85% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of BioMarin Pharmaceutical from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, February 18th. Sanford C. Bernstein raised their price target on shares of BioMarin Pharmaceutical from $90.00 to $94.00 and gave the stock an "outperform" rating in a report on Wednesday, February 25th. Piper Sandler decreased their price objective on shares of BioMarin Pharmaceutical from $122.00 to $84.00 and set an "overweight" rating on the stock in a research report on Friday, February 6th. HC Wainwright lowered their price objective on shares of BioMarin Pharmaceutical from $60.00 to $55.00 and set a "neutral" rating for the company in a research note on Wednesday, February 25th. Finally, Barclays upped their price objective on shares of BioMarin Pharmaceutical from $80.00 to $105.00 and gave the company an "overweight" rating in a research note on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $90.00.

BioMarin Pharmaceutical Profile

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company's commercial portfolio includes several approved therapies targeting inherited disorders.

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