SG Americas Securities LLC Sells 242,715 Shares of BioMarin Pharmaceutical Inc. $BMRN

SG Americas Securities LLC lessened its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 62.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 146,963 shares of the biotechnology company’s stock after selling 242,715 shares during the period. SG Americas Securities LLC owned approximately 0.08% of BioMarin Pharmaceutical worth $8,302,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC raised its holdings in shares of BioMarin Pharmaceutical by 11.5% in the 1st quarter. NewEdge Advisors LLC now owns 3,769 shares of the biotechnology company’s stock worth $266,000 after buying an additional 388 shares in the last quarter. Empowered Funds LLC boosted its stake in BioMarin Pharmaceutical by 207.4% in the 1st quarter. Empowered Funds LLC now owns 12,023 shares of the biotechnology company’s stock valued at $850,000 after buying an additional 8,112 shares in the last quarter. Focus Partners Wealth grew its position in BioMarin Pharmaceutical by 70.2% in the first quarter. Focus Partners Wealth now owns 11,817 shares of the biotechnology company’s stock valued at $835,000 after acquiring an additional 4,876 shares during the period. Sivia Capital Partners LLC raised its stake in BioMarin Pharmaceutical by 33.0% during the second quarter. Sivia Capital Partners LLC now owns 4,439 shares of the biotechnology company’s stock worth $244,000 after acquiring an additional 1,102 shares in the last quarter. Finally, Invesco Ltd. raised its stake in BioMarin Pharmaceutical by 23.5% during the second quarter. Invesco Ltd. now owns 618,835 shares of the biotechnology company’s stock worth $34,017,000 after acquiring an additional 117,617 shares in the last quarter. Institutional investors own 98.71% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BMRN. Wall Street Zen downgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. The Goldman Sachs Group began coverage on shares of BioMarin Pharmaceutical in a report on Monday, May 11th. They set a “neutral” rating and a $69.00 price objective for the company. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $66.00 price objective on shares of BioMarin Pharmaceutical in a research report on Tuesday, May 5th. Truist Financial raised BioMarin Pharmaceutical to a “strong-buy” rating in a research note on Wednesday, March 25th. Finally, Wolfe Research restated an “outperform” rating on shares of BioMarin Pharmaceutical in a report on Monday, March 16th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.67.

Insider Activity at BioMarin Pharmaceutical

In other news, EVP Gregory R. Friberg sold 3,281 shares of BioMarin Pharmaceutical 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 sale, 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 through this link. 0.85% of the stock is currently owned by corporate insiders.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ:BMRN opened at $59.00 on Friday. The stock has a market capitalization of $11.40 billion, a P/E ratio of 43.06, a P/E/G ratio of 0.45 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 current ratio of 5.81, a quick ratio of 4.20 and a debt-to-equity ratio of 0.23. The business has a 50-day moving average price of $54.43 and a two-hundred day moving average price of $56.51.

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.