Sector Gamma AS Purchases 22,653 Shares of BioMarin Pharmaceutical Inc. $BMRN

Sector Gamma AS lifted its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 12.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 198,505 shares of the biotechnology company’s stock after buying an additional 22,653 shares during the quarter. BioMarin Pharmaceutical comprises approximately 2.7% of Sector Gamma AS’s holdings, making the stock its 16th biggest position. Sector Gamma AS owned approximately 0.10% of BioMarin Pharmaceutical worth $11,797,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Caerus Investment Advisors LLC grew its stake in shares of BioMarin Pharmaceutical by 2.8% in the fourth quarter. Caerus Investment Advisors LLC now owns 10,236 shares of the biotechnology company’s stock valued at $608,000 after buying an additional 278 shares in the last quarter. Meeder Asset Management Inc. boosted its position in BioMarin Pharmaceutical by 1,974.1% during the fourth quarter. Meeder Asset Management Inc. now owns 1,763 shares of the biotechnology company’s stock worth $105,000 after purchasing an additional 1,678 shares during the period. Janney Montgomery Scott LLC boosted its position in BioMarin Pharmaceutical by 113.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 22,514 shares of the biotechnology company’s stock worth $1,338,000 after purchasing an additional 11,965 shares during the period. Illinois Municipal Retirement Fund boosted its position in BioMarin Pharmaceutical by 26.5% during the fourth quarter. Illinois Municipal Retirement Fund now owns 171,711 shares of the biotechnology company’s stock worth $10,205,000 after purchasing an additional 35,986 shares during the period. Finally, Financiere des Professionnels Fonds d investissement inc. boosted its position in BioMarin Pharmaceutical by 5.9% during the fourth quarter. Financiere des Professionnels Fonds d investissement inc. now owns 20,467 shares of the biotechnology company’s stock worth $1,216,000 after purchasing an additional 1,138 shares during the period. 98.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Oppenheimer reduced their price objective on shares of BioMarin Pharmaceutical from $98.00 to $95.00 and set an “outperform” rating for the company in a research report on Tuesday, February 24th. The Goldman Sachs Group assumed coverage on shares of BioMarin Pharmaceutical in a research report on Monday, May 11th. They set a “neutral” rating and a $69.00 price objective for the company. Wall Street Zen cut shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Jefferies Financial Group reaffirmed a “buy” rating and set a $103.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, March 12th. Finally, Truist Financial raised shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Wednesday, March 25th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.67.

Insider Buying and Selling

In related news, EVP Gregory R. Friberg sold 3,281 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $53.85, for a total value of $176,681.85. Following the completion of the transaction, the executive vice president owned 51,818 shares of the company’s stock, valued at $2,790,399.30. The trade was a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.85% of the stock is currently owned by company insiders.

BioMarin Pharmaceutical Trading Down 1.1%

Shares of BioMarin Pharmaceutical stock opened at $55.54 on Friday. The firm has a 50-day moving average of $54.38 and a 200-day moving average of $56.43. The stock has a market cap of $10.73 billion, a PE ratio of 40.54, a PEG ratio of 0.43 and a beta of 0.25. BioMarin Pharmaceutical Inc. has a 52-week low of $49.26 and a 52-week high of $66.28. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.20 and a current ratio of 5.81.

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.