Yousif Capital Management LLC Decreases Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Yousif Capital Management LLC cut its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 2.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 68,061 shares of the biotechnology company’s stock after selling 1,708 shares during the quarter. Yousif Capital Management LLC’s holdings in BioMarin Pharmaceutical were worth $4,811,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in BMRN. Pallas Capital Advisors LLC raised its position in shares of BioMarin Pharmaceutical by 702.7% in the first quarter. Pallas Capital Advisors LLC now owns 25,733 shares of the biotechnology company’s stock valued at $1,819,000 after purchasing an additional 22,527 shares during the period. Farther Finance Advisors LLC grew its stake in BioMarin Pharmaceutical by 95.9% in the 1st quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 211 shares in the last quarter. Toth Financial Advisory Corp grew its stake in BioMarin Pharmaceutical by 2,878.0% in the 1st quarter. Toth Financial Advisory Corp now owns 6,105 shares of the biotechnology company’s stock valued at $432,000 after buying an additional 5,900 shares in the last quarter. Wesbanco Bank Inc. bought a new stake in BioMarin Pharmaceutical during the 1st quarter valued at $1,131,000. Finally, UMB Bank n.a. lifted its position in shares of BioMarin Pharmaceutical by 120.5% during the first quarter. UMB Bank n.a. now owns 2,247 shares of the biotechnology company’s stock worth $159,000 after acquiring an additional 1,228 shares in the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,786 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $59.31, for a total value of $105,927.66. Following the completion of the sale, the chief accounting officer now owns 14,173 shares in the company, valued at approximately $840,600.63. The trade was a 11.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 3,354 shares of company stock valued at $216,269 over the last three months. Insiders own 0.85% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ BMRN opened at $57.16 on Thursday. The stock’s 50-day moving average is $59.14 and its 200 day moving average is $64.11. The stock has a market cap of $10.96 billion, a price-to-earnings ratio of 25.98, a P/E/G ratio of 0.61 and a beta of 0.19. BioMarin Pharmaceutical Inc. has a 1-year low of $52.93 and a 1-year high of $94.85. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BMRN shares. Piper Sandler lifted their price target on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Scotiabank raised their price objective on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, February 20th. Finally, The Goldman Sachs Group reduced their price objective on shares of BioMarin Pharmaceutical from $124.00 to $104.00 and set a “buy” rating for the company in a research note on Monday, May 5th. Six investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.45.

BioMarin Pharmaceutical Profile

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.