Boone Capital Management LLC Sells 118,903 Shares of BioMarin Pharmaceutical Inc. $BMRN

Boone Capital Management LLC decreased its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 26.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 328,546 shares of the biotechnology company’s stock after selling 118,903 shares during the period. BioMarin Pharmaceutical comprises 5.8% of Boone Capital Management LLC’s investment portfolio, making the stock its 9th biggest position. Boone Capital Management LLC’s holdings in BioMarin Pharmaceutical were worth $17,794,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. AQR Capital Management LLC boosted its stake in shares of BioMarin Pharmaceutical by 90.7% during the 2nd quarter. AQR Capital Management LLC now owns 5,580,573 shares of the biotechnology company’s stock worth $306,429,000 after acquiring an additional 2,654,768 shares in the last quarter. Capital Research Global Investors raised its holdings in BioMarin Pharmaceutical by 547.5% in the 3rd quarter. Capital Research Global Investors now owns 2,537,596 shares of the biotechnology company’s stock worth $137,436,000 after purchasing an additional 2,145,717 shares during the period. Norges Bank acquired a new position in BioMarin Pharmaceutical in the 2nd quarter worth about $112,352,000. Viking Global Investors LP boosted its position in BioMarin Pharmaceutical by 13.8% during the second quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock worth $675,505,000 after purchasing an additional 1,488,552 shares in the last quarter. Finally, LSV Asset Management grew its holdings 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 purchasing an additional 812,284 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

BMRN opened at $58.51 on Friday. BioMarin Pharmaceutical Inc. has a twelve month low of $50.76 and a twelve month high of $73.18. The firm has a market capitalization of $11.25 billion, a PE ratio of 32.87, a PEG ratio of 0.57 and a beta of 0.25. The company has a current ratio of 5.21, a quick ratio of 3.50 and a debt-to-equity ratio of 0.10. The firm’s 50-day moving average price is $58.96 and its 200 day moving average price is $56.33.

Insider Activity at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 16,486 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $60.46, for a total value of $996,743.56. Following the completion of the sale, the executive vice president directly owned 79,953 shares in the company, valued at $4,833,958.38. This represents a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gregory R. Friberg sold 6,326 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Thursday, February 26th. The stock was 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on BMRN shares. Truist Financial boosted their price objective on BioMarin Pharmaceutical from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, December 23rd. Canaccord Genuity Group lifted their price target on shares of BioMarin Pharmaceutical from $98.00 to $104.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Barclays upped their price objective on shares of BioMarin Pharmaceutical from $80.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 3rd. Wells Fargo & Company boosted their target price on shares of BioMarin Pharmaceutical from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Finally, Guggenheim decreased their price target on shares of BioMarin Pharmaceutical from $106.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Seventeen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.00.

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.