Principal Financial Group Inc. Buys 15,549 Shares of BioMarin Pharmaceutical Inc. $BMRN

Principal Financial Group Inc. lifted its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 3.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 428,607 shares of the biotechnology company’s stock after acquiring an additional 15,549 shares during the quarter. Principal Financial Group Inc. owned approximately 0.22% of BioMarin Pharmaceutical worth $24,212,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CIBC Private Wealth Group LLC grew its stake in BioMarin Pharmaceutical by 38.2% in 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 in the last quarter. Northwestern Mutual Investment Management Company LLC raised its position in BioMarin Pharmaceutical by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 42,982 shares of the biotechnology company’s stock valued at $2,554,000 after purchasing an additional 183 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of BioMarin Pharmaceutical by 7.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,741 shares of the biotechnology company’s stock worth $163,000 after buying an additional 195 shares during the period. Caerus Investment Advisors LLC lifted its holdings in shares of BioMarin Pharmaceutical by 2.8% in the 4th quarter. Caerus Investment Advisors LLC now owns 10,236 shares of the biotechnology company’s stock worth $608,000 after buying an additional 278 shares during the period. Finally, Chicago Partners Investment Group LLC grew its position in shares of BioMarin Pharmaceutical by 2.4% during the 1st quarter. Chicago Partners Investment Group LLC now owns 12,183 shares of the biotechnology company’s stock worth $660,000 after buying an additional 290 shares in the last quarter. Institutional investors own 98.71% of the company’s stock.

Insider Transactions at BioMarin Pharmaceutical

In other news, EVP Gregory R. Friberg sold 3,281 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $53.85, for a total transaction of $176,681.85. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BMRN. Royal Bank Of Canada decreased their price objective on BioMarin Pharmaceutical from $66.00 to $62.00 and set a “sector perform” rating for the company in a report on Tuesday, July 7th. Truist Financial upgraded shares of BioMarin Pharmaceutical to a “strong-buy” rating in a report on Wednesday, March 25th. Weiss Ratings upgraded shares of BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, June 26th. Canaccord Genuity Group lowered their price target on shares of BioMarin Pharmaceutical from $116.00 to $111.00 and set a “buy” rating for the company in a research report on Friday, May 22nd. Finally, UBS Group reiterated a “neutral” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $88.26.

BioMarin Pharmaceutical Stock Down 0.8%

NASDAQ:BMRN opened at $59.11 on Tuesday. The company’s 50-day simple moving average is $56.05 and its 200-day simple moving average is $56.83. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.20 and a current ratio of 5.81. BioMarin Pharmaceutical Inc. has a fifty-two week low of $49.26 and a fifty-two week high of $66.28. The stock has a market capitalization of $11.42 billion, a P/E ratio of 43.15, a P/E/G ratio of 0.45 and a beta of 0.24.

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.