D.A. Davidson & CO. Boosts Position in BioMarin Pharmaceutical Inc. $BMRN

D.A. Davidson & CO. raised its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 467.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,063 shares of the biotechnology company’s stock after acquiring an additional 36,293 shares during the quarter. D.A. Davidson & CO.’s holdings in BioMarin Pharmaceutical were worth $2,489,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of BMRN. Norges Bank bought a new stake in shares of BioMarin Pharmaceutical during the 4th quarter valued at about $447,572,000. Vestal Point Capital LP boosted its holdings in shares of BioMarin Pharmaceutical by 261.4% in the fourth 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 last quarter. Viking Global Investors LP boosted its holdings in shares of BioMarin Pharmaceutical by 13.8% in the second quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock worth $675,505,000 after buying an additional 1,488,552 shares during the last quarter. Dimensional Fund Advisors LP grew its position in BioMarin Pharmaceutical by 48.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,321,754 shares of the biotechnology company’s stock valued at $197,405,000 after buying an additional 1,076,568 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in BioMarin Pharmaceutical by 312.4% during 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 buying an additional 1,074,929 shares during the period. 98.71% of the stock is owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Performance

BMRN opened at $59.11 on Tuesday. The firm has a market cap of $11.42 billion, a P/E ratio of 43.15, a PEG ratio of 0.45 and a beta of 0.24. BioMarin Pharmaceutical Inc. has a 1-year low of $49.26 and a 1-year high of $66.28. The company has a 50 day simple moving average of $56.05 and a two-hundred day simple moving average of $56.83. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.81 and a quick ratio of 4.20.

Wall Street Analyst Weigh In

BMRN has been the topic of several recent research reports. Truist Financial upgraded shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Wednesday, March 25th. Royal Bank Of Canada cut their price objective on shares of BioMarin Pharmaceutical from $66.00 to $62.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 7th. HC Wainwright restated a “neutral” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, July 14th. Weiss Ratings raised BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, June 26th. Finally, Morgan Stanley lowered their target price on BioMarin Pharmaceutical from $120.00 to $119.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $88.26.

Insider Activity at BioMarin Pharmaceutical

In related news, EVP Gregory R. Friberg sold 3,281 shares of BioMarin Pharmaceutical stock in a transaction 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 transaction, the executive vice president owned 51,818 shares in the company, valued at approximately $2,790,399.30. The trade was a 5.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.68% of the stock is owned by insiders.

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.