BioMarin Pharmaceutical Inc. $BMRN Stake Lowered by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd trimmed its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 27.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 78,338 shares of the biotechnology company’s stock after selling 29,627 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in BioMarin Pharmaceutical were worth $4,425,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. CIBC Private Wealth Group LLC boosted its position 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 valued at $39,000 after purchasing an additional 179 shares during the period. Northwestern Mutual Investment Management Company LLC increased its position in BioMarin Pharmaceutical by 0.4% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 42,982 shares of the biotechnology company’s stock worth $2,554,000 after buying an additional 183 shares during the period. Nisa Investment Advisors LLC lifted its stake in BioMarin Pharmaceutical by 7.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,741 shares of the biotechnology company’s stock valued at $163,000 after buying an additional 195 shares during the last quarter. Davis Investment Partners LLC boosted its holdings in shares of BioMarin Pharmaceutical by 3.1% during the fourth quarter. Davis Investment Partners LLC now owns 8,031 shares of the biotechnology company’s stock valued at $477,000 after acquiring an additional 243 shares during the period. Finally, Caerus Investment Advisors LLC boosted its holdings in shares of BioMarin Pharmaceutical by 2.8% during the fourth quarter. Caerus Investment Advisors LLC now owns 10,236 shares of the biotechnology company’s stock valued at $608,000 after acquiring an additional 278 shares during the period. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

BMRN stock opened at $58.99 on Monday. The company has a 50-day simple moving average of $54.80 and a 200 day simple moving average of $56.71. The company has a market capitalization of $11.40 billion, a P/E ratio of 43.06, a PEG ratio of 0.45 and a beta of 0.24. 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 fifty-two week low of $49.26 and a fifty-two week high of $66.28.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BMRN. Wolfe Research reaffirmed an “outperform” rating on shares of BioMarin Pharmaceutical in a report on Monday, March 16th. HC Wainwright restated a “neutral” rating on shares of BioMarin Pharmaceutical in a research report on Monday, June 22nd. Weiss Ratings upgraded shares of BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, June 26th. Jefferies Financial Group reiterated a “buy” rating and set a $103.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, March 12th. Finally, Sanford C. Bernstein decreased their price objective on BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and a consensus target price of $88.67.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP Gregory R. Friberg sold 3,281 shares of the company’s 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.85% of the company’s stock.

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.