BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Acquired by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Get Rating) by 11.6% during the third quarter, HoldingsChannel reports. The fund owned 15,431 shares of the biotechnology company’s stock after acquiring an additional 1,600 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in BioMarin Pharmaceutical were worth $1,308,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Altshuler Shaham Ltd acquired a new position in shares of BioMarin Pharmaceutical during the third quarter worth about $25,000. Quadrant Capital Group LLC increased its stake in shares of BioMarin Pharmaceutical by 188.6% during the second quarter. Quadrant Capital Group LLC now owns 355 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 232 shares during the period. Acadian Asset Management LLC increased its stake in shares of BioMarin Pharmaceutical by 395.4% during the first quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 344 shares during the period. Capital Wealth Alliance LLC purchased a new stake in BioMarin Pharmaceutical during the second quarter worth about $34,000. Finally, Ellevest Inc. boosted its holdings in BioMarin Pharmaceutical by 268.0% during the third quarter. Ellevest Inc. now owns 622 shares of the biotechnology company’s stock worth $53,000 after buying an additional 453 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BMRN. Oppenheimer downgraded shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 22nd. Jefferies Financial Group upped their price target on shares of BioMarin Pharmaceutical from $100.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, November 29th. BMO Capital Markets reduced their price target on shares of BioMarin Pharmaceutical from $107.00 to $102.00 and set a “market perform” rating on the stock in a report on Tuesday, March 7th. Stifel Nicolaus upped their price target on shares of BioMarin Pharmaceutical from $114.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, February 28th. Finally, Credit Suisse Group upped their price target on shares of BioMarin Pharmaceutical from $110.00 to $127.00 and gave the company an “outperform” rating in a report on Tuesday, February 28th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $120.11.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $90.25 on Wednesday. BioMarin Pharmaceutical Inc. has a 52-week low of $70.73 and a 52-week high of $117.77. The firm has a fifty day moving average of $107.00 and a 200-day moving average of $97.66. The firm has a market capitalization of $16.83 billion, a P/E ratio of 121.96 and a beta of 0.39. The company has a quick ratio of 3.15, a current ratio of 4.67 and a debt-to-equity ratio of 0.24.

Insider Transactions at BioMarin Pharmaceutical

In other news, EVP Jeffrey Robert Ajer sold 49,000 shares of the stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $115.70, for a total value of $5,669,300.00. Following the completion of the sale, the executive vice president now owns 41,088 shares of the company’s stock, valued at $4,753,881.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Jeffrey Robert Ajer sold 49,000 shares of the stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $115.70, for a total value of $5,669,300.00. Following the completion of the sale, the executive vice president now owns 41,088 shares of the company’s stock, valued at $4,753,881.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian Mueller sold 2,500 shares of the company’s stock in a transaction on Friday, January 13th. The shares were sold at an average price of $114.50, for a total transaction of $286,250.00. Following the completion of the transaction, the chief financial officer now owns 27,746 shares of the company’s stock, valued at $3,176,917. The disclosure for this sale can be found here. Insiders sold 115,500 shares of company stock valued at $12,607,900 over the last 90 days. Corporate insiders own 1.75% of the company’s stock.

BioMarin Pharmaceutical Profile

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BioMarin Pharmaceutical, Inc engages in the development and commercialization of therapies for people with serious and life-threatening rare diseases and medical conditions. Its pipeline products include Valoctocogene roxaparvovec, Vosoritide, and BMN 307. The company was founded by John C. Klock, Christopher M.