Dimensional Fund Advisors LP Acquires 481,176 Shares of BioMarin Pharmaceutical Inc. $BMRN

Dimensional Fund Advisors LP grew its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 14.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,802,930 shares of the biotechnology company’s stock after purchasing an additional 481,176 shares during the quarter. Dimensional Fund Advisors LP owned about 1.97% of BioMarin Pharmaceutical worth $214,804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the business. Norges Bank acquired a new position in BioMarin Pharmaceutical in the fourth quarter valued at approximately $447,572,000. Vestal Point Capital LP grew its position in shares of BioMarin Pharmaceutical by 261.4% during the 4th quarter. Vestal Point Capital LP now owns 3,000,000 shares of the biotechnology company’s stock worth $178,290,000 after buying an additional 2,170,000 shares during the period. Viking Global Investors LP increased its stake in shares of BioMarin Pharmaceutical by 13.8% in 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 acquiring an additional 1,488,552 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of BioMarin Pharmaceutical by 3,494.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 957,011 shares of the biotechnology company’s stock valued at $56,875,000 after acquiring an additional 930,390 shares during the period. Finally, River Road Asset Management LLC bought a new position in BioMarin Pharmaceutical during the fourth quarter worth $53,865,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, EVP Gregory R. Friberg sold 3,281 shares of BioMarin Pharmaceutical stock in a transaction that occurred 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 owned 51,818 shares of the company’s stock, valued at $2,790,399.30. The trade was a 5.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.68% of the stock is owned by corporate insiders.

BioMarin Pharmaceutical Trading Up 0.8%

NASDAQ:BMRN opened at $59.33 on Friday. BioMarin Pharmaceutical Inc. has a one year low of $49.26 and a one year high of $66.28. The company has a market cap of $11.47 billion, a PE ratio of 43.31, a PEG ratio of 0.45 and a beta of 0.24. 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 has a 50-day moving average of $56.54 and a 200-day moving average of $56.84.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Bank of America reduced 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. Citigroup raised their target price on BioMarin Pharmaceutical from $75.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Weiss Ratings raised BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, June 26th. HC Wainwright reaffirmed a “neutral” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, July 14th. Finally, Royal Bank Of Canada cut their price target on BioMarin Pharmaceutical from $66.00 to $62.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus target price of $88.26.

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.