BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board cut its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRNFree Report) by 0.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 260,571 shares of the biotechnology company’s stock after selling 1,600 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.14% of BioMarin Pharmaceutical worth $23,055,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. EFG Asset Management North America Corp. increased its position in BioMarin Pharmaceutical by 44.9% during the third quarter. EFG Asset Management North America Corp. now owns 67,322 shares of the biotechnology company’s stock worth $5,957,000 after buying an additional 20,874 shares during the last quarter. National Bank of Canada FI increased its position in BioMarin Pharmaceutical by 3,233.6% during the third quarter. National Bank of Canada FI now owns 610,911 shares of the biotechnology company’s stock worth $53,192,000 after buying an additional 592,585 shares during the last quarter. C WorldWide Group Holding A S increased its position in BioMarin Pharmaceutical by 18.7% during the third quarter. C WorldWide Group Holding A S now owns 253,851 shares of the biotechnology company’s stock worth $22,461,000 after buying an additional 40,000 shares during the last quarter. AMI Asset Management Corp acquired a new position in BioMarin Pharmaceutical during the third quarter worth $27,838,000. Finally, Scout Investments Inc. increased its position in BioMarin Pharmaceutical by 61.7% during the second quarter. Scout Investments Inc. now owns 934,595 shares of the biotechnology company’s stock worth $81,562,000 after buying an additional 356,753 shares during the last quarter. 92.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP George Eric Davis sold 13,764 shares of the business’s stock in a transaction on 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 owns 55,710 shares of the company’s stock, valued at approximately $5,309,163. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Jean Jacques Bienaime sold 10,000 shares of the company’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $93.99, for a total value of $939,900.00. Following the completion of the transaction, the director now directly owns 425,112 shares of the company’s stock, valued at approximately $39,956,276.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP George Eric Davis sold 13,764 shares of the company’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $95.30, for a total transaction of $1,311,709.20. Following the completion of the transaction, the executive vice president now directly owns 55,710 shares of the company’s stock, valued at $5,309,163. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,764 shares of company stock worth $3,233,509. Insiders own 1.84% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

Shares of BioMarin Pharmaceutical stock opened at $88.46 on Monday. The firm has a fifty day moving average of $93.92 and a two-hundred day moving average of $89.93. The stock has a market capitalization of $16.66 billion, a price-to-earnings ratio of 114.88, a PEG ratio of 1.00 and a beta of 0.31. BioMarin Pharmaceutical Inc. has a 52 week low of $76.02 and a 52 week high of $110.67. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.65 and a current ratio of 2.54.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BMRN shares. Wedbush reiterated a “neutral” rating and issued a $78.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, November 2nd. Wells Fargo & Company assumed coverage on shares of BioMarin Pharmaceutical in a research note on Wednesday, November 15th. They set an “overweight” rating and a $100.00 price target for the company. Stifel Nicolaus restated a “buy” rating and set a $101.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, December 21st. Royal Bank of Canada restated a “sector perform” rating and set a $100.00 price target on shares of BioMarin Pharmaceutical in a research note on Tuesday, November 7th. Finally, Sanford C. Bernstein upgraded shares of BioMarin Pharmaceutical from an “underperform” rating to a “market perform” rating and set a $82.00 price target for the company in a research note on Monday, October 23rd. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average target price of $110.16.

Read Our Latest Report on BMRN

BioMarin Pharmaceutical Company Profile

(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.

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

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