University of Texas Texas AM Investment Management Co. Purchases Shares of 41,928 BioMarin Pharmaceutical Inc. $BMRN

University of Texas Texas AM Investment Management Co. purchased a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 41,928 shares of the biotechnology company’s stock, valued at approximately $2,492,000.

Other large investors also recently bought and sold shares of the company. Activest Wealth Management acquired a new position in BioMarin Pharmaceutical in the fourth quarter valued at approximately $26,000. CIBC Private Wealth Group LLC lifted its holdings in BioMarin Pharmaceutical by 38.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock valued at $39,000 after acquiring an additional 179 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in BioMarin Pharmaceutical in the third quarter valued at approximately $40,000. Smartleaf Asset Management LLC lifted its holdings in BioMarin Pharmaceutical by 92.5% in the third quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 360 shares during the period. Finally, V Square Quantitative Management LLC acquired a new position in BioMarin Pharmaceutical in the fourth quarter valued at approximately $45,000. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Down 0.5%

Shares of BMRN opened at $55.65 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.20 and a current ratio of 5.81. BioMarin Pharmaceutical Inc. has a one year low of $49.26 and a one year high of $66.28. The stock has a market capitalization of $10.76 billion, a price-to-earnings ratio of 40.62, a PEG ratio of 0.43 and a beta of 0.25. The stock has a 50 day moving average price of $54.35 and a 200 day moving average price of $56.43.

Insider Activity at BioMarin Pharmaceutical

In related news, EVP Gregory R. Friberg sold 3,281 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $53.85, for a total transaction of $176,681.85. Following the completion of the sale, the executive vice president directly owned 51,818 shares in the company, valued at approximately $2,790,399.30. The trade was a 5.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Guggenheim reduced their target price 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. Canaccord Genuity Group reduced their target price on BioMarin Pharmaceutical from $116.00 to $111.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. Wells Fargo & Company upped their target price on BioMarin Pharmaceutical from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Wolfe Research reaffirmed an “outperform” rating on shares of BioMarin Pharmaceutical in a research note on Monday, March 16th. Finally, Wall Street Zen downgraded BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $88.67.

BioMarin Pharmaceutical Company 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.