BioMarin Pharmaceutical Inc. $BMRN Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 2.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,582,585 shares of the biotechnology company’s stock after selling 421,247 shares during the quarter. Vanguard Group Inc. owned about 9.67% of BioMarin Pharmaceutical worth $1,006,433,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its holdings in shares of BioMarin Pharmaceutical by 11.5% during the first quarter. NewEdge Advisors LLC now owns 3,769 shares of the biotechnology company’s stock valued at $266,000 after acquiring an additional 388 shares during the period. Empowered Funds LLC grew its position in BioMarin Pharmaceutical by 207.4% in the 1st quarter. Empowered Funds LLC now owns 12,023 shares of the biotechnology company’s stock worth $850,000 after purchasing an additional 8,112 shares during the last quarter. Focus Partners Wealth increased its stake in shares of BioMarin Pharmaceutical by 70.2% in the first quarter. Focus Partners Wealth now owns 11,817 shares of the biotechnology company’s stock valued at $835,000 after purchasing an additional 4,876 shares during the period. Sivia Capital Partners LLC raised its holdings in shares of BioMarin Pharmaceutical by 33.0% during the second quarter. Sivia Capital Partners LLC now owns 4,439 shares of the biotechnology company’s stock valued at $244,000 after buying an additional 1,102 shares during the last quarter. Finally, Securian Asset Management Inc. raised its holdings in shares of BioMarin Pharmaceutical by 1.4% during the second quarter. Securian Asset Management Inc. now owns 14,604 shares of the biotechnology company’s stock valued at $803,000 after buying an additional 197 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Trading Up 1.0%

Shares of BMRN stock opened at $64.08 on Friday. The stock has a 50-day simple moving average of $58.09 and a 200 day simple moving average of $56.05. BioMarin Pharmaceutical Inc. has a fifty-two week low of $50.76 and a fifty-two week high of $73.51. The stock has a market capitalization of $12.31 billion, a P/E ratio of 24.09, a P/E/G ratio of 0.70 and a beta of 0.26. The company has a quick ratio of 3.10, a current ratio of 4.83 and a debt-to-equity ratio of 0.10.

Analysts Set New Price Targets

BMRN has been the topic of several analyst reports. Tudor Pickering set a $88.00 target price on BioMarin Pharmaceutical in a research report on Monday, November 3rd. Piper Sandler decreased their price target on BioMarin Pharmaceutical from $122.00 to $84.00 and set an “overweight” rating for the company in a research note on Friday, February 6th. Wolfe Research restated an “outperform” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, October 28th. Sanford C. Bernstein reduced their price objective on shares of BioMarin Pharmaceutical from $95.00 to $88.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $66.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, October 28th. Fifteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $88.14.

About BioMarin Pharmaceutical

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.