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

Nomura Asset Management Co. Ltd. reduced its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 45.4% during the 4th quarter, HoldingsChannel reports. The firm owned 67,652 shares of the biotechnology company’s stock after selling 56,320 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in BioMarin Pharmaceutical were worth $4,021,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Activest Wealth Management acquired a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $26,000. Smartleaf Asset Management LLC boosted its holdings 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 worth $40,000 after purchasing an additional 360 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of BioMarin Pharmaceutical during the 3rd quarter worth approximately $40,000. Parallel Advisors LLC boosted its holdings 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 worth $42,000 after purchasing an additional 295 shares during the last quarter. Finally, V Square Quantitative Management LLC acquired a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $45,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BMRN has been the topic of a number of recent analyst reports. Barclays upped their price objective on BioMarin Pharmaceutical from $80.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, March 3rd. HC Wainwright decreased their price objective on BioMarin Pharmaceutical from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, May 18th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $66.00 price objective on shares of BioMarin Pharmaceutical in a report on Tuesday, May 5th. Loop Capital set a $105.00 price objective on BioMarin Pharmaceutical in a report on Monday, March 2nd. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $103.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, March 12th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $88.67.

BioMarin Pharmaceutical Trading Up 3.3%

BMRN opened at $56.47 on Friday. BioMarin Pharmaceutical Inc. has a one year low of $49.26 and a one year high of $66.28. The stock has a market capitalization of $10.91 billion, a PE ratio of 41.22, a P/E/G ratio of 0.41 and a beta of 0.25. The business’s 50 day moving average price is $54.25 and its 200 day moving average price is $56.33. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.20 and a current ratio of 5.81.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 16,486 shares of the business’s stock in a transaction that occurred 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gregory R. Friberg sold 3,281 shares of the business’s stock in a transaction that occurred 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. The trade was a 5.95% decrease in their position. The SEC filing for this sale provides additional information. 0.85% of the stock is owned by insiders.

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.