BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Stake Raised by Shell Asset Management Co.

Shell Asset Management Co. grew its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRNFree Report) by 10.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,847 shares of the biotechnology company’s stock after buying an additional 351 shares during the quarter. Shell Asset Management Co.’s holdings in BioMarin Pharmaceutical were worth $340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in BMRN. Norges Bank acquired a new stake in shares of BioMarin Pharmaceutical during the 4th quarter valued at about $285,013,000. Barclays PLC lifted its holdings in BioMarin Pharmaceutical by 31.6% in the 3rd quarter. Barclays PLC now owns 5,573,157 shares of the biotechnology company’s stock worth $493,111,000 after purchasing an additional 1,336,886 shares during the last quarter. National Bank of Canada FI lifted its holdings in BioMarin Pharmaceutical by 3,233.6% in the 3rd quarter. National Bank of Canada FI now owns 610,911 shares of the biotechnology company’s stock worth $53,192,000 after purchasing an additional 592,585 shares during the last quarter. Jennison Associates LLC lifted its holdings in BioMarin Pharmaceutical by 231.5% in the 3rd quarter. Jennison Associates LLC now owns 589,344 shares of the biotechnology company’s stock worth $52,145,000 after purchasing an additional 411,543 shares during the last quarter. Finally, Polar Capital Holdings Plc lifted its holdings in BioMarin Pharmaceutical by 300.0% in the 1st quarter. Polar Capital Holdings Plc now owns 500,000 shares of the biotechnology company’s stock worth $38,550,000 after purchasing an additional 375,000 shares during the last quarter. 92.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, 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 value of $1,311,709.20. Following the sale, the executive vice president now directly owns 55,710 shares in the company, valued at $5,309,163. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other BioMarin Pharmaceutical news, 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 value of $1,311,709.20. Following the sale, the executive vice president now directly owns 55,710 shares in the company, valued at $5,309,163. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jean Jacques Bienaime sold 10,000 shares of the company’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $98.19, for a total value of $981,900.00. Following the completion of the sale, the director now owns 425,162 shares in the company, valued at $41,746,656.78. The disclosure for this sale can be found here. Insiders have sold 33,764 shares of company stock worth $3,233,509 over the last three months. Company insiders own 1.84% of the company’s stock.

Wall Street Analyst Weigh In

BMRN has been the subject of several analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $100.00 target price on shares of BioMarin Pharmaceutical in a report on Tuesday, November 7th. Sanford C. Bernstein upgraded BioMarin Pharmaceutical from an “underperform” rating to a “market perform” rating and set a $82.00 target price for the company in a report on Monday, October 23rd. Wells Fargo & Company began coverage on BioMarin Pharmaceutical in a report on Wednesday, November 15th. They issued an “overweight” rating and a $100.00 target price for the company. Morgan Stanley cut 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. Finally, BMO Capital Markets cut their price target on BioMarin Pharmaceutical from $102.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, November 3rd. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average price target of $110.16.

Read Our Latest Report on BMRN

BioMarin Pharmaceutical Stock Performance

BMRN opened at $88.46 on Monday. The stock’s 50 day simple moving average is $93.92 and its 200-day simple moving average is $89.93. BioMarin Pharmaceutical Inc. has a 1 year low of $76.02 and a 1 year high of $110.67. The stock has a market cap of $16.66 billion, a PE ratio of 114.88, a P/E/G ratio of 1.00 and a beta of 0.31. The company has a current ratio of 2.54, a quick ratio of 1.65 and a debt-to-equity ratio of 0.12.

BioMarin Pharmaceutical 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.

Further Reading

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

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