BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Position Cut by Moors & Cabot Inc.

Moors & Cabot Inc. lowered its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRNFree Report) by 30.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,966 shares of the biotechnology company’s stock after selling 1,298 shares during the quarter. Moors & Cabot Inc.’s holdings in BioMarin Pharmaceutical were worth $262,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of BMRN. Vanguard Group Inc. boosted its position in BioMarin Pharmaceutical by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 16,502,243 shares of the biotechnology company’s stock worth $1,272,322,000 after acquiring an additional 151,212 shares during the period. Barclays PLC boosted its position in BioMarin Pharmaceutical by 31.6% during the 3rd quarter. Barclays PLC now owns 5,573,157 shares of the biotechnology company’s stock worth $493,111,000 after acquiring an additional 1,336,886 shares during the period. Norges Bank acquired a new stake in BioMarin Pharmaceutical during the 4th quarter worth about $285,013,000. Geode Capital Management LLC lifted its holdings in shares of BioMarin Pharmaceutical by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 2,711,025 shares of the biotechnology company’s stock valued at $234,597,000 after buying an additional 48,902 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of BioMarin Pharmaceutical by 27.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,434,897 shares of the biotechnology company’s stock valued at $124,377,000 after buying an additional 306,018 shares during the last quarter. Hedge funds and other institutional investors own 92.78% of the company’s stock.

Wall Street Analysts Forecast Growth

BMRN has been the subject of several research reports. Morgan Stanley reduced their price target on BioMarin Pharmaceutical from $125.00 to $117.00 and set an “overweight” rating for the company in a report on Thursday, November 2nd. Cantor Fitzgerald dropped their price target on BioMarin Pharmaceutical from $120.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, November 2nd. Barclays dropped their price target on BioMarin Pharmaceutical from $125.00 to $111.00 and set an “overweight” rating on the stock in a research report on Thursday, November 2nd. BMO Capital Markets dropped their price target on BioMarin Pharmaceutical from $102.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, November 3rd. Finally, Robert W. Baird dropped their price target on BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 30th. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $110.16.

Check Out Our Latest Stock Analysis on BioMarin Pharmaceutical

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $89.80 on Wednesday. The business’s 50-day simple moving average is $94.06 and its 200 day simple moving average is $89.90. The stock has a market cap of $16.92 billion, a price-to-earnings ratio of 116.62, a P/E/G ratio of 0.99 and a beta of 0.31. BioMarin Pharmaceutical Inc. has a 12-month low of $76.02 and a 12-month high of $112.03. The company has a quick ratio of 1.65, a current ratio of 2.54 and a debt-to-equity ratio of 0.12.

Insider Activity at BioMarin Pharmaceutical

In related news, Director Jean Jacques Bienaime sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $98.19, for a total value of $981,900.00. Following the transaction, the director now owns 425,162 shares in the company, valued at $41,746,656.78. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other BioMarin Pharmaceutical news, Director Jean Jacques Bienaime sold 10,000 shares of the stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $98.19, for a total value of $981,900.00. Following the transaction, the director now owns 425,162 shares of the company’s stock, valued at $41,746,656.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP George Eric Davis sold 13,764 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $95.30, for a total value of $1,311,709.20. Following the completion of the transaction, the executive vice president now directly owns 55,710 shares in the company, valued at approximately $5,309,163. The disclosure for this sale can be found here. Insiders have sold a total of 33,764 shares of company stock worth $3,233,509 over the last 90 days. Insiders own 1.84% of the company’s stock.

About BioMarin Pharmaceutical

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for BioMarin Pharmaceutical (NASDAQ:BMRN)

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