Eurizon Capital SGR S.p.A. Takes Position in BioMarin Pharmaceutical Inc. $BMRN

Eurizon Capital SGR S.p.A. purchased a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 12,304 shares of the biotechnology company’s stock, valued at approximately $730,000.

Other hedge funds also recently modified their holdings of the company. DNB Asset Management AS increased its position in shares of BioMarin Pharmaceutical by 13.8% during the 3rd quarter. DNB Asset Management AS now owns 1,274,284 shares of the biotechnology company’s stock valued at $69,015,000 after purchasing an additional 154,954 shares during the period. New York Life Investment Management LLC acquired a new position in shares of BioMarin Pharmaceutical during the 3rd quarter valued at $1,071,000. Savant Capital LLC increased its position in shares of BioMarin Pharmaceutical by 54.4% during the 3rd quarter. Savant Capital LLC now owns 82,827 shares of the biotechnology company’s stock valued at $4,486,000 after purchasing an additional 29,174 shares during the period. Assenagon Asset Management S.A. increased its position in shares of BioMarin Pharmaceutical by 312.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,419,067 shares of the biotechnology company’s stock valued at $84,335,000 after purchasing an additional 1,074,929 shares during the period. Finally, Braidwell LP acquired a new position in shares of BioMarin Pharmaceutical during the 3rd quarter valued at $28,596,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Morgan Stanley lowered their price target on BioMarin Pharmaceutical from $120.00 to $119.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 5th. Oppenheimer lowered their price target on BioMarin Pharmaceutical from $98.00 to $95.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 24th. Bank of America reduced their price objective on BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Piper Sandler reduced their price objective on BioMarin Pharmaceutical from $122.00 to $84.00 and set an “overweight” rating for the company in a research note on Friday, February 6th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $103.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, March 12th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $88.67.

BioMarin Pharmaceutical Stock Performance

BMRN opened at $54.66 on Thursday. The firm has a market cap of $10.56 billion, a PE ratio of 39.90, a P/E/G ratio of 0.40 and a beta of 0.25. The company has a quick ratio of 4.20, a current ratio of 5.81 and a debt-to-equity ratio of 0.23. The business has a fifty day simple moving average of $54.20 and a 200-day simple moving average of $56.31. BioMarin Pharmaceutical Inc. has a fifty-two week low of $49.26 and a fifty-two week high of $66.28.

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 transaction of $996,743.56. Following the completion of the sale, the executive vice president directly owned 79,953 shares of the company’s stock, valued at $4,833,958.38. This trade represents a 17.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through 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 Company 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.