BioMarin Pharmaceutical Inc. $BMRN Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC trimmed its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 16.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,111,698 shares of the biotechnology company’s stock after selling 220,700 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.58% of BioMarin Pharmaceutical worth $66,068,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. New York Life Investment Management LLC acquired a new position in shares of BioMarin Pharmaceutical in the 3rd quarter worth $1,071,000. DNB Asset Management AS grew its holdings in shares of BioMarin Pharmaceutical by 13.8% in the 3rd quarter. DNB Asset Management AS now owns 1,274,284 shares of the biotechnology company’s stock worth $69,015,000 after acquiring an additional 154,954 shares during the last quarter. Savant Capital LLC grew its holdings in shares of BioMarin Pharmaceutical by 54.4% in the 3rd quarter. Savant Capital LLC now owns 82,827 shares of the biotechnology company’s stock worth $4,486,000 after acquiring an additional 29,174 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of 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 acquiring an additional 1,074,929 shares during the last quarter. Finally, Perpetual Ltd grew its holdings in shares of BioMarin Pharmaceutical by 425.7% in the 4th quarter. Perpetual Ltd now owns 25,621 shares of the biotechnology company’s stock worth $1,523,000 after acquiring an additional 20,747 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BMRN has been the topic of a number of recent research reports. Weiss Ratings upgraded BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 29th. Jefferies Financial Group restated a “buy” rating and issued a $103.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, March 12th. Morgan Stanley decreased their target price on BioMarin Pharmaceutical from $120.00 to $119.00 and set an “overweight” rating on the stock in a report on Tuesday, May 5th. Wall Street Zen cut BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Guggenheim decreased their target price on BioMarin Pharmaceutical from $106.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average price target of $88.67.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 16,486 shares of the firm’s stock in a transaction on 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 sale, the executive vice president owned 79,953 shares of the company’s stock, valued at $4,833,958.38. This trade represents a 17.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Gregory R. Friberg sold 3,281 shares of the firm’s stock in a transaction 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 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 trade represents a 5.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.85% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

Shares of BioMarin Pharmaceutical stock opened at $56.77 on Friday. The stock has a market cap of $10.97 billion, a PE ratio of 41.44, a price-to-earnings-growth ratio of 0.43 and a beta of 0.25. The business has a fifty day simple moving average of $54.27 and a 200-day simple moving average of $56.33. The company has a quick ratio of 4.20, a current ratio of 5.81 and a debt-to-equity ratio of 0.23. BioMarin Pharmaceutical Inc. has a 12 month low of $49.26 and a 12 month high of $66.28.

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.