Crossmark Global Holdings Inc. Buys 21,000 Shares of BioMarin Pharmaceutical Inc. $BMRN

Crossmark Global Holdings Inc. boosted its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 39.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,158 shares of the biotechnology company’s stock after buying an additional 21,000 shares during the period. Crossmark Global Holdings Inc.’s holdings in BioMarin Pharmaceutical were worth $4,016,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC raised its position in shares of BioMarin Pharmaceutical by 90.7% in the 2nd quarter. AQR Capital Management LLC now owns 5,580,573 shares of the biotechnology company’s stock valued at $306,429,000 after buying an additional 2,654,768 shares in the last quarter. Norges Bank acquired a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter worth approximately $112,352,000. Viking Global Investors LP boosted its position in shares of BioMarin Pharmaceutical by 13.8% during the 2nd quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock worth $675,505,000 after acquiring an additional 1,488,552 shares in the last quarter. LSV Asset Management increased its stake in BioMarin Pharmaceutical by 2,445.5% in the third quarter. LSV Asset Management now owns 845,500 shares of the biotechnology company’s stock valued at $45,792,000 after acquiring an additional 812,284 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in BioMarin Pharmaceutical by 42.7% in the third quarter. Dimensional Fund Advisors LP now owns 2,245,186 shares of the biotechnology company’s stock valued at $121,597,000 after acquiring an additional 671,566 shares during the last quarter. 98.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Truist Financial upped their target price on BioMarin Pharmaceutical from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, December 23rd. HC Wainwright decreased their price target on BioMarin Pharmaceutical from $60.00 to $55.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 25th. Weiss Ratings reissued a “sell (d)” rating on shares of BioMarin Pharmaceutical in a report on Monday, December 29th. Wells Fargo & Company upped their price objective on BioMarin Pharmaceutical from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Finally, Sanford C. Bernstein raised their price objective on BioMarin Pharmaceutical from $90.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Fifteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average price target of $89.64.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $61.12 on Friday. The stock’s 50 day moving average is $58.92 and its 200 day moving average is $56.27. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.21 and a quick ratio of 3.50. The firm has a market cap of $11.75 billion, a P/E ratio of 34.34, a P/E/G ratio of 0.53 and a beta of 0.25. BioMarin Pharmaceutical Inc. has a one year low of $50.76 and a one year high of $73.51.

Insider Transactions at BioMarin Pharmaceutical

In other news, EVP Gregory R. Friberg sold 6,326 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $60.38, for a total value of $381,963.88. Following the transaction, the executive vice president owned 37,578 shares in the company, valued at approximately $2,268,959.64. The trade was a 14.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.85% of the company’s stock.

BioMarin Pharmaceutical Profile

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.