Dodge & Cox Cuts Stock Holdings in BioMarin Pharmaceutical Inc. $BMRN

Dodge & Cox lowered its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 2.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,686,801 shares of the biotechnology company’s stock after selling 421,509 shares during the period. Dodge & Cox owned approximately 7.64% of BioMarin Pharmaceutical worth $795,437,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its stake in BioMarin Pharmaceutical by 11.5% during the 1st quarter. NewEdge Advisors LLC now owns 3,769 shares of the biotechnology company’s stock valued at $266,000 after purchasing an additional 388 shares during the last quarter. Empowered Funds LLC raised its stake in shares of BioMarin Pharmaceutical by 207.4% in the first quarter. Empowered Funds LLC now owns 12,023 shares of the biotechnology company’s stock worth $850,000 after purchasing an additional 8,112 shares during the last quarter. Focus Partners Wealth raised its stake in shares of BioMarin Pharmaceutical by 70.2% in the first quarter. Focus Partners Wealth now owns 11,817 shares of the biotechnology company’s stock worth $835,000 after purchasing an additional 4,876 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of BioMarin Pharmaceutical by 33.0% during the second quarter. Sivia Capital Partners LLC now owns 4,439 shares of the biotechnology company’s stock valued at $244,000 after purchasing an additional 1,102 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of BioMarin Pharmaceutical by 15.4% during the second quarter. Envestnet Asset Management Inc. now owns 50,753 shares of the biotechnology company’s stock valued at $2,790,000 after purchasing an additional 6,777 shares in the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN opened at $58.51 on Friday. The firm’s 50 day simple moving average is $58.96 and its two-hundred day simple moving average is $56.34. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.21 and a quick ratio of 3.50. The company has a market capitalization of $11.25 billion, a P/E ratio of 32.87, a P/E/G ratio of 0.58 and a beta of 0.25. BioMarin Pharmaceutical Inc. has a 1-year low of $50.76 and a 1-year high of $73.18.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 16,486 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $60.46, for a total value of $996,743.56. Following the transaction, the executive vice president directly owned 79,953 shares in the company, valued at $4,833,958.38. The trade was a 17.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gregory R. Friberg sold 6,326 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $60.38, for a total value of $381,963.88. Following the completion of the transaction, the executive vice president owned 37,578 shares of the company’s stock, valued at $2,268,959.64. The trade was a 14.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Barclays lifted their price objective on BioMarin Pharmaceutical from $80.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. Weiss Ratings restated a “sell (d)” rating on shares of BioMarin Pharmaceutical in a research note on Monday, December 29th. Piper Sandler dropped their price target on shares of BioMarin Pharmaceutical from $122.00 to $84.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. Wells Fargo & Company boosted their price objective 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. Finally, Canaccord Genuity Group increased their price objective on shares of BioMarin Pharmaceutical from $98.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Seventeen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $90.00.

BioMarin Pharmaceutical Company 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.