EULAV Asset Management Sells 23,000 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

EULAV Asset Management cut its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 17.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 108,000 shares of the biotechnology company’s stock after selling 23,000 shares during the quarter. EULAV Asset Management owned about 0.06% of BioMarin Pharmaceutical worth $7,099,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of BMRN. Erste Asset Management GmbH bought a new position in BioMarin Pharmaceutical in the third quarter worth about $48,527,000. Assenagon Asset Management S.A. raised its position in shares of BioMarin Pharmaceutical by 461.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company’s stock worth $40,205,000 after acquiring an additional 502,695 shares in the last quarter. Vestal Point Capital LP purchased a new position in shares of BioMarin Pharmaceutical in the 3rd quarter valued at approximately $28,116,000. Clearline Capital LP bought a new stake in shares of BioMarin Pharmaceutical during the third quarter valued at approximately $22,477,000. Finally, Bellevue Group AG grew its stake in BioMarin Pharmaceutical by 533.7% in the third quarter. Bellevue Group AG now owns 330,976 shares of the biotechnology company’s stock worth $23,264,000 after purchasing an additional 278,744 shares during the period. 98.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Evercore ISI lowered their price objective on BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Wolfe Research started coverage on shares of BioMarin Pharmaceutical in a research report on Friday, November 15th. They set an “outperform” rating and a $95.00 price target for the company. Canaccord Genuity Group cut their price objective on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, December 12th. Finally, UBS Group boosted their price target on BioMarin Pharmaceutical from $104.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $94.20.

Insider Buying and Selling

In related news, EVP Charles Greg Guyer sold 5,278 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total value of $350,300.86. Following the transaction, the executive vice president now owns 68,909 shares of the company’s stock, valued at approximately $4,573,490.33. This trade represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.85% of the stock is currently owned by corporate insiders.

BioMarin Pharmaceutical Trading Down 0.6 %

NASDAQ:BMRN opened at $63.93 on Friday. The company has a market cap of $12.18 billion, a PE ratio of 38.28, a price-to-earnings-growth ratio of 0.55 and a beta of 0.28. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The company has a 50 day simple moving average of $65.02 and a two-hundred day simple moving average of $72.41. BioMarin Pharmaceutical Inc. has a 12 month low of $60.63 and a 12 month high of $94.85.

BioMarin Pharmaceutical Profile

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.