BioMarin Pharmaceutical Inc. $BMRN Shares Sold by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC trimmed its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 21.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,285 shares of the biotechnology company’s stock after selling 10,530 shares during the period. Kovitz Investment Group Partners LLC’s holdings in BioMarin Pharmaceutical were worth $2,275,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. DNB Asset Management AS increased its stake in shares of BioMarin Pharmaceutical by 13.8% during the third quarter. DNB Asset Management AS now owns 1,274,284 shares of the biotechnology company’s stock valued at $69,015,000 after acquiring an additional 154,954 shares during the period. Assenagon Asset Management S.A. increased its position in shares of BioMarin Pharmaceutical by 312.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,419,067 shares of the biotechnology company’s stock valued at $84,335,000 after purchasing an additional 1,074,929 shares during the period. Braidwell LP bought a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter worth $28,596,000. Perpetual Ltd lifted its holdings in shares of BioMarin Pharmaceutical by 425.7% in the fourth quarter. Perpetual Ltd now owns 25,621 shares of the biotechnology company’s stock valued at $1,523,000 after buying an additional 20,747 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in shares of BioMarin Pharmaceutical by 134.2% in the third quarter. Fisher Asset Management LLC now owns 31,726 shares of the biotechnology company’s stock valued at $1,718,000 after buying an additional 18,181 shares during the period. 98.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BMRN has been the topic of a number of research analyst reports. Sanford C. Bernstein lowered their target price on BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. Truist Financial upgraded BioMarin Pharmaceutical to a “strong-buy” rating in a report on Wednesday, March 25th. Bank of America cut their target price on BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $66.00 target price on shares of BioMarin Pharmaceutical in a report on Tuesday, May 5th. Finally, Wolfe Research reiterated an “outperform” rating on shares of BioMarin Pharmaceutical in a research report on Monday, March 16th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.67.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN opened at $54.69 on Friday. The firm has a 50 day simple moving average of $54.24 and a 200 day simple moving average of $56.40. BioMarin Pharmaceutical Inc. has a 52 week low of $49.26 and a 52 week high of $66.28. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.20 and a current ratio of 5.81. The company has a market cap of $10.57 billion, a PE ratio of 39.92, a price-to-earnings-growth ratio of 0.42 and a beta of 0.25.

Insider Activity

In other news, EVP Gregory R. Friberg sold 3,281 shares of the stock in a transaction on Thursday, May 7th. The stock was 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 owned 51,818 shares in the company, valued at $2,790,399.30. This represents a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.