BioMarin Pharmaceutical Inc. $BMRN Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC lessened its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 60.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,351 shares of the biotechnology company’s stock after selling 14,489 shares during the period. Sanctuary Advisors LLC’s holdings in BioMarin Pharmaceutical were worth $556,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BMRN. Quent Capital LLC purchased a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter worth about $28,000. Caitong International Asset Management Co. Ltd purchased a new position in BioMarin Pharmaceutical in the third quarter valued at approximately $40,000. Smartleaf Asset Management LLC lifted its position in BioMarin Pharmaceutical by 92.5% during the third quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 360 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in BioMarin Pharmaceutical during the fourth quarter worth approximately $45,000. Finally, Parallel Advisors LLC grew its stake in BioMarin Pharmaceutical by 62.2% during the third quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock worth $42,000 after buying an additional 295 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $54.06 on Friday. The business’s 50 day moving average is $56.38 and its two-hundred day moving average is $56.34. BioMarin Pharmaceutical Inc. has a 52-week low of $50.76 and a 52-week high of $66.28. The firm has a market cap of $10.45 billion, a price-to-earnings ratio of 39.46, a PEG ratio of 0.39 and a beta of 0.23. The company has a quick ratio of 3.50, a current ratio of 5.81 and a debt-to-equity ratio of 0.23.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BMRN shares. Piper Sandler cut their target price on shares of BioMarin Pharmaceutical from $122.00 to $84.00 and set an “overweight” rating on the stock in a research note on Friday, February 6th. Wolfe Research reaffirmed an “outperform” rating on shares of BioMarin Pharmaceutical in a research report on Monday, March 16th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $66.00 price target on shares of BioMarin Pharmaceutical in a report on Tuesday. Guggenheim cut their price objective on BioMarin Pharmaceutical from $106.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Finally, Bank of America reduced their price objective on BioMarin Pharmaceutical from $97.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $90.86.

Insiders Place Their Bets

In related news, EVP Gregory R. Friberg sold 6,326 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $60.38, for a total value of $381,963.88. Following the sale, the executive vice president directly owned 37,578 shares of the company’s stock, valued at $2,268,959.64. This represents a 14.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Charles Greg Guyer sold 16,486 shares of the stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $60.46, for a total transaction of $996,743.56. Following the transaction, the executive vice president owned 79,953 shares in the company, valued at $4,833,958.38. This trade represents a 17.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.85% of the stock is currently 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.