Geode Capital Management LLC Purchases 131,969 Shares of BioMarin Pharmaceutical Inc. $BMRN

Geode Capital Management LLC boosted its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 3.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,674,089 shares of the biotechnology company’s stock after buying an additional 131,969 shares during the period. Geode Capital Management LLC owned approximately 1.91% of BioMarin Pharmaceutical worth $218,395,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BMRN. Activest Wealth Management acquired a new position in BioMarin Pharmaceutical during the 4th quarter valued at about $26,000. Caitong International Asset Management Co. Ltd acquired a new position in BioMarin Pharmaceutical during the 3rd quarter valued at about $40,000. Smartleaf Asset Management LLC boosted its stake in BioMarin Pharmaceutical by 92.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 360 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in BioMarin Pharmaceutical during the 4th quarter valued at about $45,000. Finally, Parallel Advisors LLC boosted its stake in BioMarin Pharmaceutical by 62.2% during the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 295 shares during the last quarter. 98.71% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Gregory R. Friberg sold 3,281 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president owned 51,818 shares in the company, valued at $2,790,399.30. The trade was a 5.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Charles Greg Guyer sold 16,486 shares of the business’s 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 completion of the transaction, the executive vice president owned 79,953 shares in the company, valued at $4,833,958.38. The trade was a 17.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.85% of the stock is owned by insiders.

Analysts Set New Price Targets

BMRN has been the subject of a number of analyst reports. Bank of America cut their price target 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. Citigroup initiated coverage on BioMarin Pharmaceutical in a research note on Tuesday, May 19th. They set a “buy” rating and a $75.00 price target for the company. Sanford C. Bernstein cut their price target on BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. Piper Sandler cut their price target 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, Barclays lifted their price target on BioMarin Pharmaceutical from $80.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, March 3rd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $88.67.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN opened at $53.32 on Wednesday. BioMarin Pharmaceutical Inc. has a twelve month low of $49.26 and a twelve month high of $66.28. The stock’s 50 day moving average price is $54.22 and its 200-day moving average price is $56.33. The company has a market capitalization of $10.31 billion, a PE ratio of 38.92, a PEG ratio of 0.42 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.

BioMarin Pharmaceutical 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.