BioMarin Pharmaceutical Inc. $BMRN Shares Purchased by Quantbot Technologies LP

Quantbot Technologies LP boosted its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1,255.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 9,082 shares of the biotechnology company’s stock after buying an additional 8,412 shares during the period. Quantbot Technologies LP’s holdings in BioMarin Pharmaceutical were worth $492,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BMRN. Handelsbanken Fonder AB increased its position in shares of BioMarin Pharmaceutical by 6.2% in the third quarter. Handelsbanken Fonder AB now owns 52,900 shares of the biotechnology company’s stock worth $2,865,000 after acquiring an additional 3,100 shares in the last quarter. Andra AP fonden lifted its holdings in shares of BioMarin Pharmaceutical by 282.3% during the 3rd quarter. Andra AP fonden now owns 142,200 shares of the biotechnology company’s stock valued at $7,702,000 after acquiring an additional 105,000 shares in the last quarter. R Squared Ltd boosted its position in BioMarin Pharmaceutical by 15.7% during the 3rd quarter. R Squared Ltd now owns 8,845 shares of the biotechnology company’s stock worth $479,000 after purchasing an additional 1,199 shares during the period. DNB Asset Management AS boosted its position in BioMarin Pharmaceutical by 13.8% during the 3rd quarter. DNB Asset Management AS now owns 1,274,284 shares of the biotechnology company’s stock worth $69,015,000 after purchasing an additional 154,954 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in BioMarin Pharmaceutical by 3.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 7,151 shares of the biotechnology company’s stock valued at $387,000 after purchasing an additional 235 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on BMRN. Guggenheim cut their price objective on BioMarin Pharmaceutical from $106.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Sanford C. Bernstein upped their target price on BioMarin Pharmaceutical from $90.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Truist Financial increased their target price on BioMarin Pharmaceutical from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd. Stifel Nicolaus set a $68.00 target price on BioMarin Pharmaceutical in a report on Tuesday, February 24th. Finally, HC Wainwright reduced their price target on BioMarin Pharmaceutical from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 25th. Fifteen 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. Based on data from MarketBeat, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and an average price target of $89.64.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP Gregory R. Friberg sold 6,326 shares of the firm’s 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 completion of the sale, the executive vice president directly owned 37,578 shares in the company, valued at $2,268,959.64. This trade represents a 14.41% 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. 0.85% of the stock is owned by corporate insiders.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock opened at $61.12 on Monday. BioMarin Pharmaceutical Inc. has a 12-month low of $50.76 and a 12-month high of $73.51. 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 $11.75 billion, a price-to-earnings ratio of 34.34, a price-to-earnings-growth ratio of 0.53 and a beta of 0.25. The firm’s fifty day moving average price is $58.92 and its 200 day moving average price is $56.25.

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.