BioMarin Pharmaceutical Inc. $BMRN Shares Sold by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. lessened its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 97.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,914 shares of the biotechnology company’s stock after selling 161,663 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in BioMarin Pharmaceutical were worth $233,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Activest Wealth Management purchased a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth $26,000. Quent Capital LLC purchased a new position in shares of BioMarin Pharmaceutical in the 3rd quarter worth $28,000. Smartleaf Asset Management LLC raised its position in shares of BioMarin Pharmaceutical by 92.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock worth $40,000 after buying an additional 360 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of BioMarin Pharmaceutical in the 3rd quarter worth $40,000. Finally, Parallel Advisors LLC increased its holdings in BioMarin Pharmaceutical by 62.2% in the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 295 shares in the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Up 1.3%

Shares of BioMarin Pharmaceutical stock opened at $53.55 on Thursday. The business has a 50-day moving average of $55.76 and a 200-day moving average of $56.32. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.81 and a quick ratio of 4.20. The company has a market capitalization of $10.35 billion, a PE ratio of 39.09, a P/E/G ratio of 0.39 and a beta of 0.23. BioMarin Pharmaceutical Inc. has a 1-year low of $50.76 and a 1-year high of $66.28.

Insider Activity

In other news, EVP Charles Greg Guyer sold 16,486 shares of the 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 transaction, the executive vice president owned 79,953 shares of the company’s stock, valued at approximately $4,833,958.38. This trade represents a 17.09% decrease in their ownership of the stock. 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 the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $60.38, for a total transaction of $381,963.88. Following the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 26,093 shares of company stock worth $1,555,389 in the last ninety days. Corporate insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on BMRN shares. Oppenheimer lowered their price target on BioMarin Pharmaceutical from $98.00 to $95.00 and set an “outperform” rating for the company in a report on Tuesday, February 24th. Truist Financial upgraded BioMarin Pharmaceutical to a “strong-buy” rating in a report on Wednesday, March 25th. The Goldman Sachs Group started coverage on BioMarin Pharmaceutical in a report on Monday. They issued a “neutral” rating and a $69.00 price target for the company. Jefferies Financial Group reiterated a “buy” rating and issued a $103.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, March 12th. Finally, Canaccord Genuity Group increased their price target on BioMarin Pharmaceutical from $104.00 to $116.00 and gave the company a “buy” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.91.

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.