Swiss Life Asset Management Ltd Sells 54,282 Shares of BioMarin Pharmaceutical Inc. $BMRN

Swiss Life Asset Management Ltd decreased its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 72.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,285 shares of the biotechnology company’s stock after selling 54,282 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in BioMarin Pharmaceutical were worth $1,099,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Quent Capital LLC purchased a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter valued at about $28,000. Smartleaf Asset Management LLC boosted its holdings in shares of BioMarin Pharmaceutical by 92.5% in the third quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock worth $40,000 after buying an additional 360 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of BioMarin Pharmaceutical in the third quarter worth approximately $40,000. Parallel Advisors LLC grew its position in BioMarin Pharmaceutical by 62.2% during the third quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 295 shares during the period. Finally, Employees Retirement System of Texas bought a new stake in BioMarin Pharmaceutical during the second quarter valued at approximately $58,000. 98.71% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at BioMarin Pharmaceutical

In related news, EVP Gregory R. Friberg sold 6,326 shares of the stock in a transaction that occurred 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 directly owned 37,578 shares of the company’s stock, valued at approximately $2,268,959.64. This represents a 14.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Charles Greg Guyer sold 16,486 shares of the firm’s stock in a transaction that occurred 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 owned 79,953 shares of the company’s stock, valued at $4,833,958.38. This represents a 17.09% decrease in their position. The SEC filing for this sale provides additional information. 0.85% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Oppenheimer decreased their price target on shares of BioMarin Pharmaceutical from $98.00 to $95.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 24th. Wolfe Research restated an “outperform” rating on shares of BioMarin Pharmaceutical in a research note on Monday, March 16th. Sanford C. Bernstein raised their target price on BioMarin Pharmaceutical from $90.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Canaccord Genuity Group lifted their target price on BioMarin Pharmaceutical from $98.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Finally, Stifel Nicolaus set a $68.00 price target on BioMarin Pharmaceutical in a report on Tuesday, February 24th. Seventeen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $90.00.

BioMarin Pharmaceutical Stock Up 1.2%

BMRN opened at $54.78 on Tuesday. The company has a market capitalization of $10.54 billion, a PE ratio of 30.78, a price-to-earnings-growth ratio of 0.53 and a beta of 0.25. The firm has a 50-day simple moving average of $58.48 and a two-hundred day simple moving average of $56.20. The company has a quick ratio of 3.50, a current ratio of 5.21 and a debt-to-equity ratio of 0.10. BioMarin Pharmaceutical Inc. has a 52 week low of $50.76 and a 52 week high of $73.18.

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.