Baader Bank Aktiengesellschaft Takes Position in BioMarin Pharmaceutical Inc. $BMRN

Baader Bank Aktiengesellschaft bought a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,710 shares of the biotechnology company’s stock, valued at approximately $577,000.

Several other hedge funds have also recently made changes to their positions in BMRN. Activest Wealth Management purchased a new position in shares of BioMarin Pharmaceutical during the fourth quarter valued at approximately $26,000. Quent Capital LLC purchased a new position in shares of BioMarin Pharmaceutical during the third quarter valued at approximately $28,000. Smartleaf Asset Management LLC increased its stake in shares of 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 during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of BioMarin Pharmaceutical during the third quarter valued at approximately $40,000. Finally, Parallel Advisors LLC increased its stake in shares of BioMarin Pharmaceutical by 62.2% during the third quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 295 shares during the period. 98.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at BioMarin Pharmaceutical

In other news, EVP Gregory R. Friberg sold 3,281 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $53.85, for a total value of $176,681.85. Following the sale, the executive vice president directly owned 51,818 shares of the company’s stock, valued at approximately $2,790,399.30. This represents a 5.95% 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 stock was sold at an average price of $60.46, for a total value of $996,743.56. Following the completion of the sale, the executive vice president directly owned 79,953 shares in the company, valued at approximately $4,833,958.38. This represents a 17.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,093 shares of company stock worth $1,555,389 over the last 90 days. 0.85% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BMRN. Sanford C. Bernstein reduced their target price on BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Guggenheim dropped their price target 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. Truist Financial upgraded BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Wednesday, March 25th. Barclays lifted their price target on BioMarin Pharmaceutical from $80.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, March 3rd. Finally, Weiss Ratings upgraded BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and a consensus price target of $89.91.

BioMarin Pharmaceutical Trading Down 0.6%

NASDAQ BMRN opened at $53.24 on Friday. The company has a quick ratio of 4.20, a current ratio of 5.81 and a debt-to-equity ratio of 0.23. BioMarin Pharmaceutical Inc. has a twelve month low of $50.76 and a twelve month high of $66.28. The firm has a market capitalization of $10.29 billion, a PE ratio of 38.86, a P/E/G ratio of 0.40 and a beta of 0.23. The stock’s 50 day moving average is $55.65 and its 200 day moving average is $56.31.

BioMarin Pharmaceutical 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.