BioMarin Pharmaceutical Inc. $BMRN Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lessened its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 39.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,680 shares of the biotechnology company’s stock after selling 16,209 shares during the quarter. Daiwa Securities Group Inc.’s holdings in BioMarin Pharmaceutical were worth $1,466,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Activest Wealth Management acquired a new stake in shares of BioMarin Pharmaceutical during the fourth quarter valued at about $26,000. Smartleaf Asset Management LLC grew its holdings in BioMarin Pharmaceutical by 92.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock worth $40,000 after acquiring an additional 360 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in BioMarin Pharmaceutical during the 3rd quarter worth approximately $40,000. Parallel Advisors LLC grew its holdings in BioMarin Pharmaceutical by 62.2% during the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 295 shares in the last quarter. Finally, V Square Quantitative Management LLC purchased a new stake in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $45,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at BioMarin Pharmaceutical

In related 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 value of $176,681.85. Following the transaction, the executive vice president owned 51,818 shares in the company, valued at approximately $2,790,399.30. This trade represents a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.85% of the stock is currently owned by insiders.

BioMarin Pharmaceutical Trading Down 3.0%

Shares of BMRN stock opened at $56.17 on Thursday. The firm has a market cap of $10.86 billion, a P/E ratio of 41.00, a PEG ratio of 0.44 and a beta of 0.25. BioMarin Pharmaceutical Inc. has a 1-year low of $49.26 and a 1-year high of $66.28. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.81 and a quick ratio of 4.20. The firm’s 50-day simple moving average is $54.40 and its 200-day simple moving average is $56.42.

Wall Street Analyst Weigh In

BMRN has been the subject of several recent analyst reports. Wolfe Research restated an “outperform” rating on shares of BioMarin Pharmaceutical in a research report on Monday, March 16th. Wells Fargo & Company boosted their price objective on shares of BioMarin Pharmaceutical from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. The Goldman Sachs Group assumed coverage on shares of BioMarin Pharmaceutical in a research note on Monday, May 11th. They issued a “neutral” rating and a $69.00 price objective on the stock. Bank of America cut their price target on shares of BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Finally, Citigroup started coverage on shares of BioMarin Pharmaceutical in a report on Tuesday, May 19th. They issued a “buy” rating and a $75.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.