Hussman Strategic Advisors Inc. Acquires 10,500 Shares of BioMarin Pharmaceutical Inc. $BMRN

Hussman Strategic Advisors Inc. raised its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 50.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,500 shares of the biotechnology company’s stock after buying an additional 10,500 shares during the quarter. Hussman Strategic Advisors Inc.’s holdings in BioMarin Pharmaceutical were worth $1,872,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Capital Research Global Investors boosted its holdings in BioMarin Pharmaceutical by 547.5% in the third quarter. Capital Research Global Investors now owns 2,537,596 shares of the biotechnology company’s stock valued at $137,436,000 after acquiring an additional 2,145,717 shares in the last quarter. Viking Global Investors LP raised its holdings in BioMarin Pharmaceutical by 13.8% in the 2nd quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock worth $675,505,000 after purchasing an additional 1,488,552 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in BioMarin Pharmaceutical by 312.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,419,067 shares of the biotechnology company’s stock worth $84,335,000 after purchasing an additional 1,074,929 shares in the last quarter. LSV Asset Management lifted its position in shares of BioMarin Pharmaceutical by 2,445.5% in the 3rd quarter. LSV Asset Management now owns 845,500 shares of the biotechnology company’s stock worth $45,792,000 after purchasing an additional 812,284 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of BioMarin Pharmaceutical by 42.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,245,186 shares of the biotechnology company’s stock worth $121,597,000 after purchasing an additional 671,566 shares during the period. 98.71% of the stock is owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Price Performance

Shares of BMRN opened at $54.06 on Friday. BioMarin Pharmaceutical Inc. has a fifty-two week low of $50.76 and a fifty-two week high of $66.28. The firm’s 50-day simple moving average is $56.93 and its two-hundred day simple moving average is $56.29. The stock has a market cap of $10.45 billion, a PE ratio of 30.37, a price-to-earnings-growth ratio of 0.54 and a beta of 0.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.50 and a current ratio of 5.21.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BMRN shares. Wells Fargo & Company lifted their target price on shares of BioMarin Pharmaceutical from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Guggenheim decreased their price target on shares of BioMarin Pharmaceutical from $106.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Weiss Ratings upgraded shares of BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday. Stifel Nicolaus set a $68.00 price objective on BioMarin Pharmaceutical in a research report on Tuesday, February 24th. Finally, Barclays upped their target price on BioMarin Pharmaceutical from $80.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $91.48.

Insider Buying and Selling

In other news, EVP Gregory R. Friberg sold 6,326 shares of the firm’s stock in a transaction on 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 transaction, 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 through the SEC website. Also, EVP Charles Greg Guyer sold 16,486 shares of BioMarin Pharmaceutical 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 completion of the transaction, the executive vice president directly owned 79,953 shares of the company’s stock, valued at approximately $4,833,958.38. This represents a 17.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.85% of the stock is owned by company 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.