Diversified Trust Co. Has $850,000 Stock Position in BioMarin Pharmaceutical Inc. $BMRN

Diversified Trust Co. raised its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 184.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 14,297 shares of the biotechnology company’s stock after purchasing an additional 9,265 shares during the quarter. Diversified Trust Co.’s holdings in BioMarin Pharmaceutical were worth $850,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its position in BioMarin Pharmaceutical by 90.7% in the second quarter. AQR Capital Management LLC now owns 5,580,573 shares of the biotechnology company’s stock worth $306,429,000 after purchasing an additional 2,654,768 shares during the period. Capital Research Global Investors grew its holdings in shares of BioMarin Pharmaceutical by 547.5% in the 3rd quarter. Capital Research Global Investors now owns 2,537,596 shares of the biotechnology company’s stock worth $137,436,000 after purchasing an additional 2,145,717 shares during the last quarter. Norges Bank bought a new stake in BioMarin Pharmaceutical during the second quarter worth about $112,352,000. Viking Global Investors LP increased its holdings in BioMarin Pharmaceutical by 13.8% during the 2nd quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock valued at $675,505,000 after purchasing an additional 1,488,552 shares in the last quarter. Finally, LSV Asset Management raised its position in BioMarin Pharmaceutical by 2,445.5% in the 3rd quarter. LSV Asset Management now owns 845,500 shares of the biotechnology company’s stock valued at $45,792,000 after purchasing an additional 812,284 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

Insider Activity

In related news, EVP Charles Greg Guyer sold 16,486 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $60.46, for a total transaction of $996,743.56. Following the sale, the executive vice president owned 79,953 shares in the company, valued at approximately $4,833,958.38. This represents a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Gregory R. Friberg sold 6,326 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $60.38, for a total value of $381,963.88. Following the transaction, the executive vice president directly owned 37,578 shares of the company’s stock, valued at $2,268,959.64. This trade represents a 14.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BMRN shares. Bank of America reduced their target price on shares of BioMarin Pharmaceutical from $97.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, March 11th. Sanford C. Bernstein upped their target price on shares of BioMarin Pharmaceutical from $90.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Leerink Partners lowered shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $82.00 to $60.00 in a report on Wednesday, December 3rd. Piper Sandler cut their target price on BioMarin Pharmaceutical from $122.00 to $84.00 and set an “overweight” rating on the stock in a research note on Friday, February 6th. Finally, Barclays upped their price objective on shares of BioMarin Pharmaceutical from $80.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $90.00.

BioMarin Pharmaceutical Trading Down 2.5%

NASDAQ BMRN opened at $54.14 on Friday. The stock’s 50 day moving average price is $58.44 and its two-hundred day moving average price is $56.15. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.50 and a current ratio of 5.21. The stock has a market capitalization of $10.41 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 0.55 and a beta of 0.25. BioMarin Pharmaceutical Inc. has a 52 week low of $50.76 and a 52 week high of $72.81.

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.