Plato Investment Management Ltd Sells 24,793 Shares of BioMarin Pharmaceutical Inc. $BMRN

Plato Investment Management Ltd lowered its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 92.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,024 shares of the biotechnology company’s stock after selling 24,793 shares during the period. Plato Investment Management Ltd’s holdings in BioMarin Pharmaceutical were worth $121,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Viking Global Investors LP lifted its stake in BioMarin Pharmaceutical by 13.8% during the 2nd quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock valued at $675,505,000 after acquiring an additional 1,488,552 shares during the period. AQR Capital Management LLC lifted its stake in BioMarin Pharmaceutical by 6.3% during the 3rd quarter. AQR Capital Management LLC now owns 5,932,109 shares of the biotechnology company’s stock valued at $321,283,000 after acquiring an additional 351,536 shares during the period. Capital Research Global Investors lifted its stake in BioMarin Pharmaceutical by 547.5% during the 3rd 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 during the period. Dimensional Fund Advisors LP lifted its stake in BioMarin Pharmaceutical by 42.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,245,186 shares of the biotechnology company’s stock valued at $121,597,000 after acquiring an additional 671,566 shares during the period. Finally, Northern Trust Corp lifted its stake in BioMarin Pharmaceutical by 0.4% during the 3rd quarter. Northern Trust Corp now owns 1,662,268 shares of the biotechnology company’s stock valued at $90,028,000 after acquiring an additional 7,157 shares during the period. Institutional investors own 98.71% of the company’s stock.

Insider Activity at BioMarin Pharmaceutical

In related news, EVP Gregory R. Friberg sold 3,281 shares of the 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 of the company’s stock, valued at approximately $2,790,399.30. This represents a 5.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Charles Greg Guyer sold 16,486 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $60.46, for a total transaction of $996,743.56. Following the completion of the sale, the executive vice president directly owned 79,953 shares of the company’s stock, valued at $4,833,958.38. This represents a 17.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 26,093 shares of company stock valued at $1,555,389 over the last three months. 0.85% of the stock is currently owned by insiders.

BioMarin Pharmaceutical Trading Down 2.7%

BioMarin Pharmaceutical stock opened at $52.58 on Tuesday. The firm has a 50 day moving average of $56.06 and a 200 day moving average of $56.33. The firm has a market capitalization of $10.16 billion, a price-to-earnings ratio of 38.38, a P/E/G ratio of 0.40 and a beta of 0.23. BioMarin Pharmaceutical Inc. has a 12-month low of $50.76 and a 12-month high of $66.28. The company has a current ratio of 5.81, a quick ratio of 4.20 and a debt-to-equity ratio of 0.23.

Analyst Upgrades and Downgrades

BMRN has been the subject of several research reports. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $66.00 price target on shares of BioMarin Pharmaceutical in a research report on Tuesday, May 5th. Sanford C. Bernstein reduced their price target on shares of BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating for the company in a research report on Tuesday, May 5th. Barclays upped their price target on shares of BioMarin Pharmaceutical from $80.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, March 3rd. Oppenheimer reduced their price target on shares of BioMarin Pharmaceutical from $98.00 to $95.00 and set an “outperform” rating for the company in a research report on Tuesday, February 24th. Finally, Guggenheim reduced 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 report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average target price of $89.91.

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.