Daiwa Securities Group Inc. lowered its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 37.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,191 shares of the biotechnology company’s stock after selling 9,229 shares during the period. Daiwa Securities Group Inc.’s holdings in BioMarin Pharmaceutical were worth $1,283,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Usca Ria LLC purchased a new stake in shares of BioMarin Pharmaceutical during the third quarter worth $26,000. Meeder Asset Management Inc. lifted its stake in BioMarin Pharmaceutical by 73.6% during the third quarter. Meeder Asset Management Inc. now owns 408 shares of the biotechnology company’s stock worth $27,000 after purchasing an additional 173 shares during the period. Allred Capital Management LLC bought a new position in shares of BioMarin Pharmaceutical in the fourth quarter valued at approximately $51,000. Vista Private Wealth Partners. LLC bought a new position in shares of BioMarin Pharmaceutical in the third quarter valued at approximately $52,000. Finally, Exchange Traded Concepts LLC bought a new position in shares of BioMarin Pharmaceutical in the fourth quarter valued at approximately $74,000. Institutional investors own 95.85% of the company’s stock.
BMRN has been the subject of a number of research analyst reports. Canaccord Genuity cut their target price on shares of BioMarin Pharmaceutical from $117.00 to $108.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Robert W. Baird reiterated a “buy” rating and issued a $120.00 target price on shares of BioMarin Pharmaceutical in a research note on Friday, December 13th. BidaskClub upgraded shares of BioMarin Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Wedbush reiterated a “buy” rating and issued a $158.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, January 21st. Finally, Bank of America reiterated a “buy” rating and issued a $90.00 target price on shares of BioMarin Pharmaceutical in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $110.67.
Shares of BMRN stock opened at $86.57 on Friday. BioMarin Pharmaceutical Inc. has a 12-month low of $62.88 and a 12-month high of $96.85. The firm has a market capitalization of $15.96 billion, a price-to-earnings ratio of -332.96 and a beta of 1.39. The company has a quick ratio of 2.53, a current ratio of 3.77 and a debt-to-equity ratio of 0.27. The firm has a fifty day moving average of $86.34 and a 200-day moving average of $77.74.
In related news, EVP George Eric Davis sold 3,190 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.66, for a total value of $254,115.40. Following the completion of the transaction, the executive vice president now directly owns 68,709 shares of the company’s stock, valued at approximately $5,473,358.94. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jean Jacques Bienaime sold 10,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $77.60, for a total transaction of $776,000.00. Following the completion of the transaction, the chief executive officer now directly owns 327,070 shares of the company’s stock, valued at $25,380,632. The disclosure for this sale can be found here. Insiders sold a total of 32,940 shares of company stock valued at $2,730,495 in the last three months. 1.90% of the stock is owned by company insiders.
About BioMarin Pharmaceutical
BioMarin Pharmaceutical Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.
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