KBC Group NV Purchases 15,362 Shares of BioMarin Pharmaceutical Inc. $BMRN

KBC Group NV lifted its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 10.0% during the 4th quarter, Holdings Channel reports. The firm owned 168,779 shares of the biotechnology company’s stock after acquiring an additional 15,362 shares during the period. KBC Group NV’s holdings in BioMarin Pharmaceutical were worth $10,031,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in BMRN. Capital Research Global Investors grew its holdings in shares of BioMarin Pharmaceutical by 547.5% in the third 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 last quarter. Viking Global Investors LP lifted its stake in BioMarin Pharmaceutical by 13.8% in the second 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 during the period. Assenagon Asset Management S.A. lifted its stake in BioMarin Pharmaceutical by 312.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,419,067 shares of the biotechnology company’s stock worth $84,335,000 after acquiring an additional 1,074,929 shares during the period. LSV Asset Management lifted 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 worth $45,792,000 after acquiring an additional 812,284 shares during the period. Finally, Dimensional Fund Advisors LP lifted 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 worth $121,597,000 after acquiring an additional 671,566 shares during the period. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

Shares of BioMarin Pharmaceutical stock opened at $54.64 on Friday. 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 has a market capitalization of $10.51 billion, a P/E ratio of 30.70, a P/E/G ratio of 0.53 and a beta of 0.29. The business has a fifty day simple moving average of $58.06 and a two-hundred day simple moving average of $56.31. BioMarin Pharmaceutical Inc. has a 12 month low of $50.76 and a 12 month high of $66.28.

Analyst Ratings Changes

A number of analysts recently commented on BMRN shares. Barclays raised their price target on BioMarin Pharmaceutical from $80.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 3rd. Guggenheim dropped their price target on BioMarin Pharmaceutical from $106.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Wells Fargo & Company raised their price target on BioMarin Pharmaceutical from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Truist Financial raised BioMarin Pharmaceutical to a “strong-buy” rating in a research note on Wednesday, March 25th. Finally, Stifel Nicolaus set a $68.00 price target on BioMarin Pharmaceutical in a research note on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $90.00.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 6,326 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $60.38, for a total transaction of $381,963.88. Following the completion of the transaction, the executive vice president owned 37,578 shares of the company’s stock, valued at approximately $2,268,959.64. This trade represents a 14.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Charles Greg Guyer sold 16,486 shares of the firm’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $60.46, for a total value of $996,743.56. Following the transaction, the executive vice president directly owned 79,953 shares of the company’s stock, valued at $4,833,958.38. This represents a 17.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.85% of the company’s stock.

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.