Renaissance Technologies LLC Lowers Position in BioMarin Pharmaceutical Inc. $BMRN

Renaissance Technologies LLC decreased its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 22.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,024,871 shares of the biotechnology company’s stock after selling 300,100 shares during the period. Renaissance Technologies LLC’s holdings in BioMarin Pharmaceutical were worth $57,895,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Activest Wealth Management bought a new position in BioMarin Pharmaceutical during the 4th quarter valued at $26,000. CIBC Private Wealth Group LLC boosted its holdings in BioMarin Pharmaceutical by 38.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock worth $39,000 after acquiring an additional 179 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter worth $40,000. V Square Quantitative Management LLC bought a new stake in shares of BioMarin Pharmaceutical in the 4th quarter worth $45,000. Finally, Parallel Advisors LLC raised its holdings in shares of BioMarin Pharmaceutical by 62.2% in the third quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 295 shares during the last quarter. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN opened at $59.33 on Monday. The company’s 50-day moving average is $56.54 and its 200 day moving average is $56.82. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.20 and a current ratio of 5.81. The company has a market capitalization of $11.47 billion, a P/E ratio of 43.31, a price-to-earnings-growth ratio of 0.45 and a beta of 0.24. BioMarin Pharmaceutical Inc. has a fifty-two week low of $49.26 and a fifty-two week high of $66.28.

Insider Transactions at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 3,281 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $53.85, for a total value of $176,681.85. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BMRN shares. Morgan Stanley dropped their price target on shares of BioMarin Pharmaceutical from $120.00 to $119.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 5th. Canaccord Genuity Group decreased their price objective on shares of BioMarin Pharmaceutical from $116.00 to $111.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. Sanford C. Bernstein decreased their price objective on shares of BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. UBS Group reissued a “neutral” rating on shares of BioMarin Pharmaceutical in a research report on Tuesday, July 14th. Finally, Weiss Ratings upgraded BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.26.

About BioMarin Pharmaceutical

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.