SG Americas Securities LLC Sells 242,715 Shares of BioMarin Pharmaceutical Inc. $BMRN

SG Americas Securities LLC decreased its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 62.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 146,963 shares of the biotechnology company’s stock after selling 242,715 shares during the quarter. SG Americas Securities LLC’s holdings in BioMarin Pharmaceutical were worth $8,302,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at approximately $447,572,000. Vestal Point Capital LP grew its holdings in BioMarin Pharmaceutical by 261.4% during the fourth quarter. Vestal Point Capital LP now owns 3,000,000 shares of the biotechnology company’s stock valued at $178,290,000 after purchasing an additional 2,170,000 shares during the period. Capital Research Global Investors increased its stake in 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 valued at $137,436,000 after purchasing an additional 2,145,717 shares in the last quarter. Viking Global Investors LP increased 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 valued at $675,505,000 after purchasing an additional 1,488,552 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in BioMarin Pharmaceutical by 48.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,321,754 shares of the biotechnology company’s stock worth $197,405,000 after purchasing an additional 1,076,568 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Up 2.9%

BioMarin Pharmaceutical stock opened at $59.00 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.81 and a quick ratio of 4.20. The company’s 50-day moving average is $54.43 and its 200-day moving average is $56.51. The firm has a market capitalization of $11.40 billion, a PE ratio of 43.06, a P/E/G ratio of 0.45 and a beta of 0.25. BioMarin Pharmaceutical Inc. has a fifty-two week low of $49.26 and a fifty-two week high of $66.28.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wolfe Research reissued an “outperform” rating on shares of BioMarin Pharmaceutical in a research note on Monday, March 16th. Morgan Stanley lowered their price target on shares of BioMarin Pharmaceutical from $120.00 to $119.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 5th. Wall Street Zen downgraded BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Citigroup began coverage on BioMarin Pharmaceutical in a research report on Tuesday, May 19th. They set a “buy” rating and a $75.00 price target for the company. Finally, Canaccord Genuity Group lowered their price target on BioMarin Pharmaceutical from $116.00 to $111.00 and set a “buy” rating on the stock in a research report on Friday, May 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $88.67.

Insider Buying and Selling

In related news, EVP Gregory R. Friberg sold 3,281 shares of BioMarin Pharmaceutical stock in a transaction dated 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 transaction, the executive vice president owned 51,818 shares in the company, valued at approximately $2,790,399.30. This trade represents a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.85% of the company’s stock.

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.