BioMarin Pharmaceutical Inc. $BMRN Shares Acquired by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC lifted its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 4.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 945,847 shares of the biotechnology company’s stock after purchasing an additional 39,817 shares during the period. Brandywine Global Investment Management LLC’s holdings in BioMarin Pharmaceutical were worth $56,212,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BMRN. New York Life Investment Management LLC purchased a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter worth $1,071,000. DNB Asset Management AS increased 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 valued at $69,015,000 after purchasing an additional 154,954 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of BioMarin Pharmaceutical by 312.4% in the fourth 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. Braidwell LP acquired a new stake in shares of BioMarin Pharmaceutical in the third quarter valued at about $28,596,000. Finally, Perpetual Ltd boosted its holdings in BioMarin Pharmaceutical by 425.7% during the fourth quarter. Perpetual Ltd now owns 25,621 shares of the biotechnology company’s stock worth $1,523,000 after buying an additional 20,747 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $56.77 on Monday. The company has a current ratio of 5.81, a quick ratio of 4.20 and a debt-to-equity ratio of 0.23. The stock has a market cap of $10.97 billion, a P/E ratio of 41.44, a PEG ratio of 0.43 and a beta of 0.25. The company has a 50-day moving average of $54.27 and a two-hundred day moving average of $56.34. BioMarin Pharmaceutical Inc. has a 12-month low of $49.26 and a 12-month high of $66.28.

Insider Buying and Selling

In other news, EVP Gregory R. Friberg sold 3,281 shares of the firm’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 transaction of $176,681.85. Following the completion of the transaction, the executive vice president directly owned 51,818 shares of the company’s stock, valued at $2,790,399.30. This trade represents a 5.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Charles Greg Guyer sold 16,486 shares of BioMarin Pharmaceutical stock in a transaction that occurred 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 transaction, the executive vice president owned 79,953 shares of the company’s stock, valued at $4,833,958.38. This represents a 17.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BMRN. Oppenheimer dropped their target price on shares of BioMarin Pharmaceutical from $98.00 to $95.00 and set an “outperform” rating for the company in a report on Tuesday, February 24th. Guggenheim decreased their price target on BioMarin Pharmaceutical from $106.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Canaccord Genuity Group lowered their price target on BioMarin Pharmaceutical from $116.00 to $111.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. Loop Capital set a $105.00 price objective on BioMarin Pharmaceutical in a research note on Monday, March 2nd. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $66.00 price objective on shares of BioMarin Pharmaceutical in a report on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $88.67.

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.