BioMarin Pharmaceutical Inc. $BMRN Shares Acquired by Pacer Advisors Inc.

Pacer Advisors Inc. lifted its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 53.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 937,356 shares of the biotechnology company’s stock after buying an additional 327,204 shares during the period. Pacer Advisors Inc. owned approximately 0.49% of BioMarin Pharmaceutical worth $55,707,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Activest Wealth Management purchased a new stake in BioMarin Pharmaceutical in the fourth quarter valued at $26,000. CIBC Private Wealth Group LLC grew its holdings in shares of BioMarin Pharmaceutical by 38.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock worth $39,000 after purchasing an additional 179 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of BioMarin Pharmaceutical during the third quarter worth about $40,000. Parallel Advisors LLC increased its position in shares of BioMarin Pharmaceutical by 62.2% during the third quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 295 shares in the last quarter. Finally, V Square Quantitative Management LLC purchased a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at about $45,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Price Performance

BMRN opened at $54.69 on Friday. The business has a 50 day moving average price of $54.24 and a two-hundred day moving average price of $56.40. The company has a quick ratio of 4.20, a current ratio of 5.81 and a debt-to-equity ratio of 0.23. The company has a market cap of $10.57 billion, a PE ratio of 39.92, a P/E/G ratio of 0.42 and a beta of 0.25. BioMarin Pharmaceutical Inc. has a 52 week low of $49.26 and a 52 week high of $66.28.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BMRN. Morgan Stanley decreased their target price on BioMarin Pharmaceutical from $120.00 to $119.00 and set an “overweight” rating for the company in a research report on Tuesday, May 5th. Guggenheim cut their price target on BioMarin Pharmaceutical from $106.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $66.00 price objective on shares of BioMarin Pharmaceutical in a research note on Tuesday, May 5th. HC Wainwright decreased their price objective on BioMarin Pharmaceutical from $55.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, May 18th. Finally, Oppenheimer lowered their target price on shares of BioMarin Pharmaceutical from $98.00 to $95.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 24th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $88.67.

Insider Activity

In other news, EVP Gregory R. Friberg sold 3,281 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president owned 51,818 shares of the company’s stock, valued at approximately $2,790,399.30. The trade was a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.85% of the company’s stock.

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.