SBI Okasan Asset Management Co.Ltd. Purchases New Shares in BioMarin Pharmaceutical Inc. $BMRN

SBI Okasan Asset Management Co.Ltd. acquired a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 11,300 shares of the biotechnology company’s stock, valued at approximately $678,000.

A number of other institutional investors have also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. boosted its position in BioMarin Pharmaceutical by 20.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 32,134 shares of the biotechnology company’s stock worth $1,910,000 after acquiring an additional 5,513 shares during the period. Geode Capital Management LLC boosted its position in BioMarin Pharmaceutical by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 3,674,089 shares of the biotechnology company’s stock worth $218,395,000 after acquiring an additional 131,969 shares during the period. Allstate Corp boosted its position in BioMarin Pharmaceutical by 53.5% during the 4th quarter. Allstate Corp now owns 9,761 shares of the biotechnology company’s stock worth $580,000 after acquiring an additional 3,402 shares during the period. Fisher Asset Management LLC boosted its position in BioMarin Pharmaceutical by 11.2% during the 4th quarter. Fisher Asset Management LLC now owns 35,290 shares of the biotechnology company’s stock worth $2,097,000 after acquiring an additional 3,564 shares during the period. Finally, Clearstead Advisors LLC boosted its position in BioMarin Pharmaceutical by 79.1% during the 4th quarter. Clearstead Advisors LLC now owns 6,187 shares of the biotechnology company’s stock worth $368,000 after acquiring an additional 2,733 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at BioMarin Pharmaceutical

In other news, EVP Gregory R. Friberg sold 3,281 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $53.85, for a total transaction of $176,681.85. Following the completion of the sale, the executive vice president directly owned 51,818 shares of the company’s stock, valued at $2,790,399.30. This trade represents a 5.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Charles Greg Guyer sold 16,486 shares of the firm’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 sale, the executive vice president directly owned 79,953 shares of the company’s stock, valued at $4,833,958.38. This trade represents a 17.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.85% of the stock is owned by company insiders.

BioMarin Pharmaceutical Stock Up 8.6%

BMRN opened at $57.29 on Friday. BioMarin Pharmaceutical Inc. has a fifty-two week low of $49.26 and a fifty-two week high of $66.28. The business has a 50-day moving average of $54.22 and a 200-day moving average of $56.30. 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 $11.07 billion, a PE ratio of 41.82, a price-to-earnings-growth ratio of 0.40 and a beta of 0.23.

Wall Street Analyst Weigh In

BMRN has been the subject of a number of research reports. The Goldman Sachs Group initiated coverage on BioMarin Pharmaceutical in a research report on Monday, May 11th. They set a “neutral” rating and a $69.00 price objective for the company. Bank of America decreased their price objective on BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th. Wells Fargo & Company raised their price objective on BioMarin Pharmaceutical from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Guggenheim decreased their price objective on BioMarin Pharmaceutical from $106.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Finally, Barclays raised their price objective on BioMarin Pharmaceutical from $80.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 3rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and an average price target of $88.67.

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.