BioMarin Pharmaceutical Inc. $BMRN Shares Bought by Westpac Banking Corp

Westpac Banking Corp raised its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 425.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 25,621 shares of the biotechnology company’s stock after buying an additional 20,747 shares during the period. Westpac Banking Corp’s holdings in BioMarin Pharmaceutical were worth $1,523,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in BMRN. Activest Wealth Management acquired a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at approximately $26,000. Smartleaf Asset Management LLC raised its position in shares of BioMarin Pharmaceutical by 92.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 360 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter valued at approximately $40,000. Parallel Advisors LLC raised its position in shares of BioMarin Pharmaceutical by 62.2% during the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 295 shares in the last quarter. Finally, V Square Quantitative Management LLC bought a new position in BioMarin Pharmaceutical during the 4th quarter worth $45,000. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Performance

BMRN opened at $54.66 on Thursday. The stock has a market cap of $10.56 billion, a PE ratio of 39.90, a P/E/G ratio of 0.40 and a beta of 0.25. The company has a current ratio of 5.81, a quick ratio of 4.20 and a debt-to-equity ratio of 0.23. BioMarin Pharmaceutical Inc. has a 1 year low of $49.26 and a 1 year high of $66.28. The stock’s 50 day simple moving average is $54.20 and its 200-day simple moving average is $56.31.

Analyst Upgrades and Downgrades

BMRN has been the subject of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on BioMarin Pharmaceutical in a research report on Monday, May 11th. They issued a “neutral” rating and a $69.00 price target for the company. Jefferies Financial Group restated a “buy” rating and issued a $103.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, March 12th. HC Wainwright dropped their price target on BioMarin Pharmaceutical from $55.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, May 18th. Stifel Nicolaus set a $68.00 price objective on BioMarin Pharmaceutical in a research report on Tuesday, February 24th. Finally, Barclays boosted their price objective on BioMarin Pharmaceutical from $80.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, March 3rd. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $88.67.

Insider Buying and Selling at BioMarin Pharmaceutical

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

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.